Sunday, 14th March 2021, Stripe announced a fundraising round of $600 million from Allianz X, Axa, Baillie Gifford, Fidelity Management & Research Company, Sequoia Capital, and Ireland’s National Treasury Management Agency (NTMA).
This means that the company is now valued at $95 billion and has officially become the most valuable startup in the United States.
With its dual headquarters in San Francisco and Dublin, Stripe operates across 42 countries, of which 31 are European, where there is a huge growth potential amongst the SME and Tech segment.
Due to this, Stripe is using this newly raised $600 million in capital to expand into Europe and acquire more market share. “We’re investing a ton more in Europe this year, particularly in Ireland,” said John Collison, President and co-founder of Stripe. “Whether in fintech, mobility, retail or SaaS, the growth opportunity for the European digital economy is immense.“
“Most people underappreciate Stripe’s global scale and leading ability to serve the most complex enterprise customers,” said Timothy Chiodo Head of Payments and Fintech Research at Crédit Suisse. ”Stripe’s global scale and market reach continue to expand and they are a now a leader (and gaining meaningful share) in the enterprise segment.”
“In 2021, we will double down on our enterprise capabilities, particularly our customer success teams, to help even more large businesses like Twilio or Zapier significantly increase their revenue,” said Mike Clayville, Stripe’s Chief Revenue Officer.
“We will also invest in our global expansion to help companies such as Glofox or MATCHESFASHION increase their market opportunity. And through partnerships with enterprise solutions like Salesforce Commerce Cloud, we will make it even easier for large multinationals around the world to switch to Stripe.”, added Mike Clayville.
In 2021, Stripe will keep on building its Global Payments and Treasury Network, further extending its set-up of programming and administrations to help businesses drive more sales. Stripe will be accessible to a larger pool of enterprises and businesses in Brazil, India, Indonesia, Thailand and the UAE.
Just 14% of trade happens online today, in spite of the worldwide economy speeding up its transition to online in 2020. Stripe’s central goal is to develop the GDP of the web, making it simple for aspiring teams to develop their business.
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