Stripe raises new round of financing at a $35B valuation

Startups • September 19, 2019, 3:03PM EDT
The Block

Stripe, the San Francisco-based payments technology provider, has raised a new round of financing, valuing the startup at $35 billion, according to a report by The Wall Street Journal. The firm was last valued at $22.5 billion.

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Investors including Sequoia Capital, General Catalyst, and Andreessen Horowitz participated in the new $250 million round. “Stripe is more than ever a bet on the internet as an economic engine,” Will Gaybrick, Stripe’s chief product officer, told The Wall Street Journal.

Stripe's primary product is an API that businesses can integrate into their website to accept online payments. The startup was founded in 2009 by brothers Patrick Collison and John Collison. The startup recently announced two new product launches: Stripe Capital, an online service for businesses, and Stripe Card, a corporate credit card.

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Steven Zheng is a researcher for The Block. He joined The Block in August 2018. Steven graduated from St. John’s University with a degree in economics. Previously, he covered blockchain and crypto at Radicle, a startup analytics firm. He also had brief stints at Cheddar, a media startup, and Bowery Capital, a venture capital firm. He owns bitcoin. Follow Steven on Twitter at: @Dogetoshi

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