Stripe Nets $80 million in New Funding
Jan. 27, 2014
San Francisco-based online payments provider Stripe believes that “enabling more transactions is a problem rooted in code and design, not finance”—and it seems a lot of people are buying it. Stripe recently announced an $80 million Series C investment at a $1.75 billion valuation—this thanks to investors Sequoia Capital, Founders Fund, Khosla Ventures and Allen & Company. Stripe’s total funding now sits at $130 million.
Ireland-born founding brothers John and Patrick Collison had an outside-the-box approach to payment processing from the get-go. In their words, “We had experienced first-hand the difficulty of accepting online payments. On almost every front, it was becoming easier to build and launch an online business. Payments, however, remained dominated by clunky legacy players. It seemed clear that there should be a developer-focused, instant-setup payment platform that would scale to any size.”
Between September and December of 2013, Stripe rolled out betas in seven new countries, making the total number of nations it currently supports 12, and according to Stripe’s Head of Communications Kelly Sims, more international growth is planned for 2014. As for developing more business partnerships, Sims had this to say: “It’s definitely a space to watch.”