As per the Wall Street Journal, the round was raised on a valuation of USD 35 billion, up from a valuation USD 22 billion when Stripe raised USD 100 million from Tiger Global in January 2019. With the new funding, Stripe has raised USD 1.035 billion to date.
Stripe processes payments on the websites of its users and complementary services for ecommerce customers. Those services now include chargeback protection, a cash advance service, and a new corporate card offering launched on 10 September. The company said it’s investing in new markets, since most new internet users are coming online outside North American and Western Europe. As such, Stripe will be operating in 40 countries covering 70% of the global economy by the end of 2019.
Moreover, the company wants to extend its enterprise capabilities, in a bit to provide powerful functionalities to the youngest high-potential companies, and forward-thinking technologies to established businesses.
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