Valued at $ 95 billion, Stripe becomes the most valuable startup in the U.S. ahead of a highly antecipated IPO
With a new round of $600 million, the fintech Stripe has seen its market valuation leverage to an impressive $95 billion. The contribution counted with the participation of Sequoia Capital and the National Treasury Management Agency, responsible for the investments of the government of Ireland.
Stripe’s value almost tripled in a single year, even exceeding $80 billion from Facebook and $72 billion from Uber before the two companies went public on the US stock exchange.
In 2019, the startup raised another $250 million. At that time, valued at $35 billion, it had joined the elite of Silicon Valley, leaving behind companies like Airbnb, then valued at $31 billion, and the big data company Palantir, valued at $20 billion. According to the Crunchbase website, the company already raised $ 2.2 billion.
The company’s CFO, Dhivya Suryadevara, told the Business Insider website that funding was more a matter of opportunity than necessity. With the resources, the company wants to expand its operations in Europe, considered a market as strategic as the United States.
The rapid growth in the last year also shows companies’ appetite for e-commerce. And the pandemic has accelerated this process. Since the stricter social isolation measures were adopted in Europe, more than 200 thousand new companies have started using the platform created by Stripe.
To the British newspaper Financial Times, co-founder John Collison said that 5,000 transactions per second were processed throughout 2020, including payments, returns, checking customer data and other activities recorded in the company’s programming interface.
Initially, Stripe’s focus was to offer its services to other startups, but in the last year, it has seen the demand of large companies for its platform soar. Today, Zoom, Salesforce, Shopify and delivery companies Instacart and Deliveroo are among their customers.