Stripe Payments, founded by Irish brothers, is now worth $95 billion or 68 billion pounds after raising $600 million from investors, according to Yahoo! Finance. The deal means Stripe has almost tripled its valuation in under a year for a company valued at $36 billion last April.
- Stripe’s surging valuation comes after the COVID-19 pandemic forced more spending online.
- The company’s co-founder brothers, John 30 and Patrick, 32, were both worth $3.2 billion before the latest funding round.
- John Collison, president and co-founder of Stripe, hinted at the company’s further investment in Europe, particularly Ireland, focusing on fintech, mobility, retail, or SaaS.
- Stripe’s original focus was making products that made it simple for small businesses and artisans to accept payments online.
- The company has recently expanded into finance, launching products covering fraud, card issuing, subscriptions, and managing cash flow.
- Currently, Stripe works with more than 50 businesses that process over $1 billion each year, and its customers include Jaguar Land Rover, Waitrose, and Deliveroo.
- The sky-high valuation of Stripe makes it Silicon Valley’s most valuable private business.