Stripe Inc. ranks as one of the highest-priced U.S. startups after a new fundraising gave it a tag of $35 billion.

Venture-capital firms Sequoia Capital, General Catalyst and Andreessen Horowitz were the major players behind a round that raised a total of $250 million. The $35 billion valuation is a 50% increase in value from a round completed just early this year. The new valuation gives Stripe bragging rights above Silicon Valley darlings Airbnb Inc. and Palantir Technologies Inc.

“Stripe is more than ever a bet on the internet as an economic engine,” said Will Gaybrick, Stripe’s chief product officer.

Stripe at a decade old is middle-aged by Silicon Valley standards, but Mr. Gaybrick and Stripe president John Collison said it had no plans to go public. It has raised around $1.2 billion over the past nine years.

Mr. Gaybrick said that the vast majority of users rely on Stripe to handle all of their payments, and it is adding 8 new countries to its network to help businesses grow internationally. Additionally, Stripe announced it would start issuing corporate credit cards with cash-back rewards and lending money to businesses that process payments through Stripe, using signals such as the percentage of sales coming from repeat customers to determine creditworthiness.

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Economics, Finance and Investing