One of the largest fintech groups in the United States has secured a substantial financial investment, with digital payments venue Stripe raising $150 million in a Series D funding round, bringing its valuation to over $9 billion, according to a Wall Street Journal report.
Stripe is a provider of payment processing tools for websites and mobile apps backed by several companies and known investors including Sequoia Capital, Andreessen Horowitz, Peter Thiel and Elon Musk. Just last year, Stripe was valued at $5 billion, during its last funding round, which at the time justified its presence as one of the largest fintech firms in the US.
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Since then, its valuation has nearly doubled, attracting $460 million in investments since its launch back in 2010. In addition to a growth in valuation, the group has also expanded its operations, including most recently to France, where it built a local team and now provides support for users in French from an office in Paris.
Moreover, Stripe’s latest capital raise has also culminated in the reception of a line of credit from a group of banks including JPMorgan Chase, Goldman Sachs, Morgan Stanley and Barclays. The new funds will be instrumental to Stripe’s new growth, namely in terms of an international expansion.
The group’s Chief Financial Officer Will Gaybrick also alluded to the prospect of future acquisitions.