- General
- September 26, 2018
- 5 minutes read
Stripe raises $245 million Tiger Global led round at $20 billion valuation
Stripe co-founders John Collison and Patrick Collison who old the positions of President and CEO respectively at Stripe Stripe San…
 |
| Stripe co-founders John Collison and Patrick Collison who old the positions of President and CEO respectively at Stripe
Stripe
|
San Francisco based Stripe, a leading payments company whose service is used by over 100 thousand businesses worldwide spreading across millions of customers has now raised $245 million in a new round at a $20 billion valuation, More than double the previous $9.2 billion valuation it garnered from its most previous funding round which took place in 2016.
This round was led by Tiger Global with further participation from DST Global, Sequioa Capital, Kleiner Perkins and Thrive Capital. Stripe which counts major name customers such as Uber, Facebook, Lyft, Slack, Wish, Postmates, Expedia, Zillow, Deliveroo and Google has now raised $685 million in total across several rounds.
 |
| Stripe |
8 year old Stripe has now vaulted into the ranks of the world’s most valuable private tech companies with a $20 billion valuation placing it amongst the top ten ranks of most valuable unicorns.
Stripe is planning to make use of this funding to hire more people for what is says is a “distributed global engineering team.” with a plan to open a new hub in Singapore in addition to its already existing San Francisco, Seattle and Dublin hubs.
“We believe in the contingency of progress,” Stripe CEO and co-founder Patrick Collison said in a statement. “Better global payments infrastructure will increase economic output, encourage entrepreneurship, and help upstarts compete with incumbents. By bringing Stripe into more markets and building out our capabilities for companies of all sizes, we hope to accelerate innovation around the world.”
 |
| Stripe |
Stripe currently employs 1,300 people globally while counting a headquarters in San Francisco with this funding geared towards expansion of its team number.
While centered around online payments, Stripe has also expanded into other venues which include Point-of-Sale services, fraud detection, APIs for credit card issuing and several other fields. Estimating that there’ll be $4 trillion in global online sales by 2020, The company plans to gain more in an ever growing market with an expansion of its fintech reach and services.
