May 21, 2015
Stripe, a California-based online payments company, is in talks to raise a fresh round of funding of about $500 million. The investment round would raise the company’s valuation to $5 billion. The company had previously raised a total funding of $190 million from high-profile investors including PayPal co-founders, Sequoia Capital, Box CEO Aaron Levie, Khosla Ventures, Andreessen Horowitz and others.
Stripe has also entered the Asian market by launching an invitation-only private beta in Japan. Invited companies are asked to submit basic identity verification information like address and bank account details. Sign-up requests will be handled on a first-come, first-served basis. The new round of investment seems to fuel further expansion of Stripe globally.
Stripe provides varied products to facilitate online and mobile payments. The company’s unified set of APIs and tools enables businesses to accept and manage online payments instantly. Stripe is in a beta program to support Alipay, to allow customers to pay via the web and mobile device using SMS authentication. Stripe supports Apple Pay integration in iOS apps which enables one-touch credit card payments on iOS devices with a touch ID sensor.
Stripe has also partnered with Twitter and Facebook to power Buy buttons on their pages.
Stripe’s products include:
The product consists of an embeddable payment form that allows developers to integrate it into their websites without much technical implementations.
Connect is a tool that facilitates seamless payment-processing for the customers that operate payment platforms or marketplaces. A few notable clients for this service include Lyft, Postmates, OrderAhead, Instacart, Shopify and others.
Stripe supports bitcoin transactions, similar to an existing currency. Customers authorize payments using their bitcoin wallet or service of choice. Stripe charges 0.5% per successful bitcoin transaction.
Stripe is headquartered in San Francisco and has over 210 employees working for the company. It was founded by Irish brothers Patrick and John Collison. Stripe focuses on providing the technical, fraud prevention and banking infrastructure required to operate online payment systems. Stripe is available for business in about 20 countries with a few countries in private beta phase.