Stripe, an online payment processing company, announced today that it has raised $600 million in the latest funding round at a valuation of $95 billion. The recent funding round was led by Allianz X, Axa, Baillie Gifford, Fidelity Management & Research Company, Sequoia Capital and Ireland’s National Treasury Management Agency (NTMA).
According to the official announcement, the company is planning to invest in its European operations and the Dublin headquarters in particular. Stripe is currently offering services in 42 countries including 31 European nations.
The company mentioned that its Enterprise revenue has grown significantly in the last few years. Mark Carney, the former Governor of the Bank of England (BOE) and the Bank of Canada (BOC) recently joined Stripe’s Board of Directors.
Commenting on the latest announcement, John Collison, President and Co-Founder of Stripe, said: “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.”
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In addition, Stripe is planning to expand its Global Payments and Treasury Network with the latest capital.
The company recently expanded its services to 5 European countries including Czech Republic, Romania, Bulgaria, Cyprus and Malta. Stripe has more than 2,500 employees around the world.
“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,” the firm mentioned in the official announcement.
With a valuation of nearly $95 billion, Stripe is one of the most valuable companies around the world. “Most people underappreciate Stripe’s global scale and leading ability to serve the most complex enterprise customers,” said Timothy Chiodo, Head of Payments and Fintech Research at Credit Suisse.