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January 31, 2019

Paytech Stripe secures additional $100m funding

Payments technology firm Stripe has received $100m investment from hedge fund firm Tiger Global Management.

The latest investment will take the firm’s valuation to $22.5bn.

With the new capital, the firm aims to scale internationally and launch new services for larger clients.

Commenting on the latest fundraising, a company spokesman said: “Stripe is rapidly scaling internationally, as well as extending our platform into issuing, global fraud prevention and physical stores with Stripe Terminal.

“The follow-on funding gives us more leverage in these strategic areas.”

Tiger previously led the $245m funding round of Stripe last September.

That round also involved the participation of DST Global, Sequoia Capital, Andreessen Horowitz, Kleiner Perkins and Khosla Ventures.

Simultaneously, Stripe announced the appointment of Diane Greene to its board.

Greene joins from Google Cloud, where she was the CEO. Formerly, she was a member of the Intuit board.

Besides, she co-founded VMware and VXtreme, which were snapped up by Microsoft .

She also founded Diane Greene Bebop that was later acquired by Google.

At present, Greene is also a director of Alphabet and SAP.

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.”

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