- Stripe recently announced it raised $600 million in Series H funding at a $95 billion valuation. These are the details.
Over the weekend, Stripe announced it raised $600 million in Series H funding. This round of funding valued the company at $95 billion. The new valuation is nearly three times its valuation from last year.
The primary investors include Allianz X, Axa, Baillie Gifford, Fidelity Management & Research Company, Sequoia Capital, and Ireland’s National Treasury Management Agency (NTMA). Stripe will use the capital to invest in its European operations (the Dublin headquarters in particular) in order to support surging demand from enterprise heavyweights across Europe. And the company will expand its Global Payments and Treasury Network.
Of the 42 countries in which Stripe powers businesses, 31 are in Europe. Axel Springer, Jaguar Land Rover, Maersk, Metro, Mountain Warehouse, and Waitrose all recently turned to Stripe to grow and diversify online revenues or move faster on their transformation projects. And Europe’s hypergrowth companies like Deliveroo (UK), Doctolib (France), Glofox (Ireland), Klarna (Sweden), ManoMano (France), N26 (Germany), UiPath (Romania), and Vinted (Lithuania) all build on Stripe to compete on the global stage.
Stripe now counts over 50 category leaders—companies processing more than $1 billion annually as customers. And enterprise revenue is now both Stripe’s largest and its fastest-growing segment, more than doubling year over year.
Stripe has built a programmable infrastructure for global money movement, known as its Global Payments and Treasury Network as well as a growing roster of products and services atop that foundation, including Billing, Capital, Connect, Issuing, Radar, Terminal and Treasury.
This year, Stripe will continue to build its Global Payments and Treasury Network, further expanding its suite of software and services to help ambitious businesses drive more revenue. And Stripe will also soon be available to millions of more businesses in Brazil, India, Indonesia, Thailand, and the UAE.
Only 14% of commerce takes place online today despite the global economy accelerating its shift to online in 2020. And Stripe’s mission is to “grow the GDP of the internet,’ making it easy for ambitious companies everywhere to grow their business.
KEY QUOTES:
“We’re investing a ton more in Europe this year, particularly in Ireland. Whether in fintech, mobility, retail or SaaS, the growth opportunity for the European digital economy is immense.“
— John Collison, President and co-founder of Stripe
“Stripe is an accelerator of global economic growth and a leader in sustainable finance. We are convinced that, despite making great progress over the last 10 years, most of Stripe’s success is yet to come. We’re delighted to back Ireland’s and Europe’s most prominent success story, and, in doing so, to help millions of other ambitious companies become more competitive in the global economy.”
— Conor O’Kelly, CEO of NTMA
“Most people underappreciate Stripe’s global scale and leading ability to serve the most complex enterprise customers. Stripe’s global scale and market reach continues to expand and they are a now a leader (and gaining meaningful share) in the enterprise segment.”
— Timothy Chiodo Head of Payments and Fintech Research at Crédit Suisse
“In 2021, we will double down on our enterprise capabilities, particularly our customer success teams, to help even more large businesses like Twilio or Zapier significantly increase their revenue. We will also invest in our global expansion to help companies such as Glofox or MATCHESFASHION increase their market opportunity. And through partnerships with enterprise solutions like Salesforce Commerce Cloud we will make it even easier for large multinationals around the world to switch to Stripe.”
— Mike Clayville, Stripe’s Chief Revenue Officer
“We’re investing in the infrastructure that will power internet commerce in 2030 and beyond. The pandemic taught us many things about society, including how much can be achieved—and paid for—online, but the internet still isn’t the engine for global economic progress that it could be. We’re laser-focused on helping ambitious businesses grow faster. While Stripe already processes hundreds of billions of dollars per year for millions of businesses worldwide, the opportunity ahead is much larger for Stripe than it was when the company was started 10 years ago.”
— Dhivya Suryadevara, Stripe’s Chief Financial Officer
