Financial services and software firm Stripe announced over the weekend that it raised $600 million at a $95 billion valuation in its latest round of funding.
- According the the release, Stripe plans on using the money “to invest in its European operations, and its Dublin headquarters in particular, support surging demand from enterprise heavyweights across Europe, and expand its Global Payments and Treasury Network.”
- Of the 42 countries Stripe does business in, 31 are in Europe.
- Also, president and co-founder John Collison mentioned Ireland specifically as a focus point for this investment. This is where the company has part of its headquarters.
- “Whether in fintech, mobility, retail or SaaS, the growth opportunity for the European digital economy is immense,” Collison added.
- The company “now counts more than 50 category leaders — companies processing each more than $1 billion annually — as customers.” This comes after its launch in 2011.
- The firm possesses a wide variety of offerings. These range from payments and financial services to fraud and risk management for businesses and people.
- After this news, Stripe is now the most valuable U.S.-based startup.
- During its last round of funding in April 2020, Stripe’s valuation stood at just $36 billion.
On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Nick Clarkson is a web editor at InvestorPlace.