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November 25, 2020   FinTech and Alternative Finance, Fintech International, Fundraising, Investing, Trading, Marketplace Lending/P2P, Lending, Digital Bonds, BNPL, Payments, Transfers, Rewards, Stories, Venture Funding and Building   No comments

Payments Startup Stripe in Talks for Funding at $70 Billion Valuation or More

Bloomberg | Katie Roof and Scott Deveau | Nov 24, 2020

stripe founders John and patrick - Payments Startup Stripe in Talks for Funding at $70 Billion Valuation or MorePrivate financial technology business Stripe Inc. is in talks to raise a new funding round valuing it higher than its last private valuation of $36 billion, according to people familiar with the matter.

The valuation being discussed could be more than $70 billion or significantly higher, at as much as $100 billion, said one of the people, who asked not be identified because the matter is private. That would make it currently the most valuable venture-backed startup in the U.S., according to CB Insights.

Stripe’s software, which competes with Square Inc. and Paypal Holdings Inc., is used by businesses to accept payments. According to its website, Stripe’s customers include Amazon.com Inc., Salesforce.com Inc., Lyft Inc. and Instacart Inc.

See: 

Lightspeed and Stripe Partner to Launch New Payments Feature

Stripe, the world’s most valuable private fintech company, is getting into lending

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The company has benefited during the pandemic with more shoppers turning to e-commerce. It’s gone on offense during the downturn this year, starting a card-issuing service for U.S. clients and agreeing to acquire a Nigerian startup to expand in Africa.

Brother Founders

Irish brothers John and Patrick Collison founded Stripe in 2010. The duo sold their first company for $5 million when they were teenagers and are now worth about $4.3 billion each, according to the Bloomberg Billionaires Index.

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