A promise to make it simple for merchants to accept credit card payments for online transactions has resulted in Stripe becoming the most valuable U.S.-based fintech startup after the company secured its most recent funding round. Stripe reportedly netted $150 million in a Series D raise that pegs its value just north of $9 billion—nearly double its $5 billion valuation set after its previous financing round in July 2015. In the year and a half between the two investment rounds, Stripe has grown from serving retailers in 25 countries to 110 countries. Its most recent valuation is a bet that online payments will continue to grow and continue to move toward mobile devices—a credible belief given that, on the day news of the round broke, Black Friday, online sales in the U.S. via mobile devices reached $1 billion in a single day for the first time.
The Series D round was co-led by CapitalG—the investment arm of Google parent company Alphabet—and General Catalyst Partners. Existing investor Sequoia Capital also participated in the round.