Online payments company Stripe has raised $100 million in funding at a $22.5 billion valuation, according to The Information. This funding round was provided by Tiger Global Management.
Back in September 2018, Stripe had a $20 billion valuation based on a $245 million Series E round. Some of Stripe’s additional investors include Andreessen Horowitz, Peter Thiel, Elon Musk, Capital G, Sequoia Capital, and Kleiner Perkins, according to Pitchbook.
On Twitter, Stripe CEO Patrick Collison also announced that former Google Cloud CEO Diane Greene is being added to the company’s board. Greene also previously co-founded VMware.
They're now joined by Diane Greene. @bhorowitz famously summed her up as a "god level CEO". As founder of VMWare, she helped usher in the cloud revolution, which she then returned to as CEO of Google Cloud. https://t.co/1EDVbOpbMI
— Patrick Collison (@patrickc) January 29, 2019
Some of Stripe’s other board members include Jonathan Chadwick (former VMware CFO/COO and Skype CFO), Michael Moritz (Sequoia Capital partner), and Michelle Wilson (former SVP and General Counsel of Amazon).
Founded by brothers Patrick Collison and John Collison in 2010 — who came up with the idea for the company while attending the Massachusetts Institute of Technology (MIT) — Stripe has become one of the most valuable fintech companies. Stripe’s platform has become a standard for electronic payment integration. And Stripe competes against companies like Square and Adyen.
“Stripe is rapidly scaling internationally, as well as extending our platform into issuing, global fraud prevention and physical stores with Stripe Terminal,” said a Stripe spokesperson via CNBC. “The follow-on funding gives us more leverage in these strategic areas.”
In July 2018, Stripe launched Stripe Issuing — which enables businesses to create their own debit cards and credit cards. And the company also launched its own payment terminal device called Stripe Terminal.
Plus Stripe signed a new partnership with Funding Circle. Through the partnership, Stripe can link small and medium-sized business customers to financing options provided by Funding Circle. This deal will also enable Stripe to integrate their sales data with Funding Circle. And it will enable them to receive faster decisions on loan applications.
