Stripe intends to use the funding to invest in its operations in Europe and expand its global payments and treasury network
Payment services company Stripe headquarters in San Francisco. (Credit: HaeB/Wikipedia.)
Irish-American financial services firm Stripe has raised $600m in a funding round to advance operations in Europe and expand its global payments and treasury network.
Investors including Allianz X, Axa, Baillie Gifford, Fidelity Management & Research Company, Sequoia Capital, and Ireland’s National Treasury Management Agency (NTMA) participated in the funding round.
Stripe intends to use the funding, which valued the company at $95bn, to invest in its operations in Europe, and expand its global payments and treasury network.
Stripe president and co-founder John Collison said: “We’re investing a ton more in Europe this year, particularly in Ireland. Whether in fintech, mobility, retail or SaaS, the growth opportunity for the European digital economy is immense.”
Stripe said that out of the total 42 countries it serves, 31 are in Europe, and it serves many of the large and fast-growing companies in the continent.
The company currently has more than 50 category leaders, the companies which process more than $1bn each per annum as its customers.
Stripe has created a programmable infrastructure for global money movement, dubbed Global Payments and Treasury Network.
The firm has developed several products and services, including Billing, Capital, Connect, Issuing, Radar, Terminal and Treasury, based on the network.
Stripe intends to continue building its Global Payments and Treasury Network, further expanding its suite of software and services to help businesses generate more revenue.
Stripe chief revenue officer Mike Clayville said: “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.
“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.”