The valuation of Stripe Inc. has tripled in a short duration of less than a year to $95 million in its latest funding round. It is one of the most valuable startups in the US. In the latest fundraising, the company got $600 million.
The valuation figure of Stripe inc which was reported by Bloomberg News that the company spoke to its investors would boost its value to more than $70 billion, with the possibility of pushing it to as high as $100 billion. According to CBInsights data, this valuation of the company overtook Elon Musk’s SpaceX and Instacart Inc.
The competitors of the software are Square Inc. and Paypal Holdings Inc., which are used by businesses to accept payments. The customers of the company are Amazon.com Inc., Salesforce.com Inc., and Lyft Inc. The company will invest in its European operations from its headquarters in Dublin, in order to support the increasing demand and expand the payment. It also plans to expand its treasury network. It also has two headquarters in San Francisco.
The primary investors of the company are Allianz Group, Axa SA, Baillie Gifford, Fidelity Management & Research Co., Sequoia Capital, and Ireland’s National Treasury Management Agency. Stripe was valued at $36 billion in April when it raised $600 million from investors including Andreessen Horowitz and Sequoia Capital.