Pictured L-R: Patrick Collison, CEO and co-founder and John Collison, co-founder, Stripe.
Stripe, the payments provider started by Limerick brothers Patrick and John Collison, is valued at $22.5bn as Tiger Global invest $100m in latest funding round.
Stripe has previously picked up capital from PayPal co-founders Elon Musk and Peter Thiel, and Google’s venture arm Capital G, among others.
Stripe has now become one of the most sought after payment start-ups in Silicon Valley. It as achieved the mythical “unicorn” status—a private firm worth more than $1 billion — in the U.S., and surpassed data analytics firm Palantir’s $20 billion water mark.
This new deal makes Stripe by far the most valuable privately-held FinTech business in the world, with cryptocurrency exchange Coinbase trailing behind in second place at about $8bn. Stripe’s competitors include Square, which was founded by Twitter CEO Jack Dorsey, and the Netherlands-based Adyen.
The company is rapidly scaling internationally, and extending its platform into issuing, global fraud prevention, and physical stores with Stripe Terminal.
Stripe co-founder and CEO Patrick Collison said:
We’re building Stripe for the long-term.We’re lucky to do so alongside a roster of detail-oriented directors who believe that infrastructure revolutions can compound for decades, and that operational excellence can be a durable competitive advantage.”
Founded in 2010, Stripe’s online platform integrates electronic payments and secure transactions, and has become an attractive bet for venture capital as consumers overwhelmingly move to online payments. The Collison brothers, now aged 30 and 28, became two of the world’s youngest self-made billionaires.
Headquartered in San Francisco with hubs in Seattle, Singapore and Dublin, Stripe employs more than 1,000 people worldwide and handles billions of dollars in transactions each year. Millions of companies— including household names like GE, Adidas and the NFL—in over 120 countries use Stripe.
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