Stripe is opening a fintech development office in London that will focus on open banking, embedded finance and bank partner integrations.
The move represents another investment in the European market for the San Francisco-headquartered payments giant, coming just a week after it outlined plans to recruit hundreds more engineers in Dublin over the next three years.
Led by Emma Burrows, Stripe’s head of engineering in London, the fintech development office will report to the Dublin engineering hub.
It will lead the company’s work on open banking in Europe, including a pay-by-bank feature being piloted next month, which will enable Stripe users to accept payments over open banking PIS rails.
The office will also work on Stripe products in the embedded finance space across Europe, as well as build the bank partner integrations for features such as a bank transfer product, which is already in beta.
Says Burrows: “London is a global leader in fintech with a strong engineering community deeply committed to driving better financial services for consumers and businesses. Stripe engineers in London are already helping build the future of financial services, and we’re excited to do even more with our Fintech Development Office.”
Founded by Irish brothers John and Patrick Collison, Stripe is the most valuable private company in Silicon Valley, valued at $95 billion in its last funding round n March.
The European expansion comes as the firm is reportedly preparing for a stock market debut next year after appointing a law firm to explore a listing.