SAN FRANCISCO — Online payment processor Stripe has become one of the most valuable venture-backed companies in the world with a new $250 million round, giving Stripe a valuation of $35 billion.
Investors include General Catalyst, Sequoia, and Andreessen Horowitz, among others. Stripe plans to use the capital to accelerate its growth in three key areas: accelerating international expansion; growing its product suite; and extending its enterprise capabilities.
Stripe recently launched in eight additional European countries: Estonia, Greece, Latvia, Lithuania, Poland, Portugal, Slovakia, and Slovenia. The company says it will be expanding to more nations in the coming months; bringing the total to 40 countries covering 70% of the global economy, with many more launches planned for 2020.
Stripe processes hundreds of billions of dollars a year in online transactions for millions of businesses worldwide, including Wayfair, Twilio, GitHub, and The RealReal.
“Even now, in 2019, less than eight percent of commerce happens online,” said John Collison, President and Co-founder of Stripe. “We’re investing now to build the infrastructure that’ll power internet commerce in 2030 and beyond. If we get it right, we can help the internet fulfill its potential as an engine for global economic progress.”
Stripe was launched in 2011 and has over 2,000 employees. It is based out of San Francisco.