News: Stripe says raised $600 million in funding round at a $95 billion valuation.
(Reuters) – Payment processing company Stripe announced Sunday that its valuation hit $ 95 billion after raising $ 600 million in a new round of funding.
This makes Stripe the most valuable private company that Silicon Valley has produced, according to the Financial Times.
Stripe said in a statement that the main investors in the financing round are entities from Allianz SE, AXA SA, Baillie Gifford, Fidelity Management & Research Co., Sequoia Capital and Ireland’s National Treasury Management Agency (NTMA).
The company said it will use the capital to invest in its European operations, and in particular its Dublin headquarters, to support growing demand and to expand its global payments and treasury network.
Stripe has two headquarters, the other in San Francisco.
“We’re investing a ton more in Europe this year, particularly Ireland,” said John Collison, President and Co-Founder of Stripe.
Of the 42 countries Stripe operates in, 31 are in Europe.
“While Stripe is already processing hundreds of billions of dollars a year for millions of companies around the world, the opportunities are far greater … than 10 years ago when the company was founded,” said Dhivya Suryadevara, Stripe’s chief financial officer.
Source text: [ID:bit.ly/3qQTRq9]
Reporting by Scott DiSavino; Editing by Peter Cooney
Original Source © Reuters