Worth 95 billion dollars: Stripe payment service becomes the most expensive US startup

Worth $ 95 billion
Payment service Stripe becomes the most expensive US startup

Internet commerce and delivery services are booming in the pandemic. Companies that process online payments benefit from this. From the perspective of investors, the startup Stripe has almost tripled its value within a year. The company is now more valuable than Facebook, for example, before it went public.

The Stripe payment platform achieved a valuation of $ 95 billion in its most recent financing round. The company has become the most valuable non-listed startup in the USA. Investors have now given Stripe another 600 million dollars (around 502 million euros). The overall rating results from the share in the company the investors got for their money. Stripe processes payments for companies, and its customers include numerous tech heavyweights such as Amazon, the transport operator Lyft and the delivery service Deliveroo.

The new valuation is also historically extremely high for an unlisted company. For comparison: Facebook had reached the mark of 80 billion dollars before its IPO in 2012, Uber reached a good 70 billion dollars before the share placement. The stock market valuation of most traditional financial service providers, including many major banks, is already overshadowing Stripe.

Stripe wants to use the cash injection, among other things, for accelerated expansion in other countries, as the company announced. Investors include insurers Allianz and Axa, venture capitalists Sequoia and the Irish government's investment arm. San Francisco-based Stripe was founded in 2010 by Irish brothers Patrick and John Collison. "We are investing a lot more in Europe this year, especially at our second headquarters in Dublin," said John Collison.

Stripe also plans to further expand its business in Germany this year. The company is currently active in 42 countries, including 31 in Europe. In the last round of funding in April 2020, Stripe was valued at $ 36 billion. But in the corona pandemic, online retail and delivery services have seen a major boost – and Stripe has also benefited from it. The growth potential is enormous, according to Stripe CFO Dhivya Suryadevara: "The Internet is still not the engine for global economic progress that it could be."

. (tagsToTranslate) start-ups (t) internet companies (t) Silicon Valley (t) investors