Payment services provider Stripe raised $600 million in a new funding round at a $95 billion valuation, making it one of the most valuable start-up companies today.
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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 to support surging demand from enterprise heavyweights across Europe and expand its Global Payments and Treasury Network.
Investing in Europe
Of the 42 countries in which Stripe powers businesses today, 31 are in Europe. And many of the continent’s largest and fastest-growing companies are building on the platform.
Axel Springer, Jaguar Land Rover, Maersk, Metro, Mountain Warehouse and Waitrose have all recently turned to Stripe to grow and diversify their online revenue or move faster on their transformation projects.
Meanwhile, Europe’s hypergrowth companies such as 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.
“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
Reinforcing Enterprise Leadership
Stripe now counts more than 50 category leaders—companies processing each more than $1 billion annually—as customers. Enterprise revenue is now both Stripe’s largest and fastest-growing segment, more than doubling year over year.
Recently, Stripe was also named a Leader in The Forrester Wave™: Merchant Payments Providers, Q3 2020, achieving the highest scores of any company ranked.
“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
Expanding Stripe’s Global Payments and Treasury Network
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.
“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
In 2021, Stripe will continue to build its Global Payments and Treasury Network, further expanding its software and services suite to help ambitious businesses drive more revenue. 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. Stripe’s mission is to grow the GDP of the internet, making it easy for ambitious companies everywhere to grow their business.
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