Stripe, a California-based online payments company, has raised new investments which have raised the company valuation to $5 billion from $3.57 billion in December 2014. The funding was led by financial giant Visa and experts believe this is a huge endorsement for Stripe. 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 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 and 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. At Let’s Talk Payments, we trust Stripe as well for our payment processing needs.
The firm declined to disclose the funding but is said to have raised approximately <$100 million. Other investors who participated in the funding were venture capital firm Kleiner Perkins Caufield & Byers and existing investors such as Sequoia Capital and American Express Co. It is said that the motive behind the investment made by Visa is to expand its digital payments horizon.
The new investment raised by the company will certainly fuel further expansion of Stripe globally. Stripe customers want it to be available in Asian countries as an example. Stripe recently expanded its geographical reach by entering the Japanese market by launching as 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.
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. For more information, visit.