Stripe is on a Funding Hot Streak
The fresh round of funding comes just two years after Stripe closed a $150 million Series D which at the time valued the company north of $9 billion. The year before that, also Stripe closed a $100 million Series C. The most recent round was led by Tiger Global Management.
Two Great Founders
To date, Stripe has served as a model for the way tech startups should grow. In fact, legendary VC Paul Graham even wrote an essay about just that. In his essay, Mr. Graham asserts startups take-off because their founders make them take-off. To that end, Stripe is a great example. Founded in 2010 by Irish brothers, John and Patrick Collison, Stripe has grown from a mom-and-pop tech startup shop, to a company with offices in San Francisco, Seattle, Dublin, and soon in Singapore.
Technology Makes All the Difference
The heart of Stripe’s business has been its ability to allow companies to collect funds based on Stripe’s code. Stripe then provides the technical, fraud prevention, and banking infrastructure to operate its online payment systems. And the company is constantly advancing said technology. According to Stripe, “All told, the company deployed more than 3,200 new versions of its core API over the past year.”
Investors Are Eager to Be Involved
While the most recent round was lead by Tiger Global Management, the company has attracted no shortcoming of suitors. Also included in this round were Sequoia Capital, Thrive Capital, Kleiner Perkins, and DST Global. Other previous investors have also include Andreesen Horowitz, Peter Thiel, American Express, and Y-Combinator among many others. To date, Stripe has raised over $685 million in funding.
Changing the Way the World Does Business
According to Stripe, only about 3% of global commerce happens online today. As such, it is Stripe’s aim to eliminate the barriers to online commerce and to allow more new businesses to get started, to increase economic output, and to increase global trade. To date, Stripe is currently used by some of the top Fortune 500 companies including Amazon, Google, Microsoft, and Facebook.