Tuesday 6 December 2016

The Collisons have become Ireland's youngest billionaires

Published 29/11/2016 | 07:48

Patrick (left) and John Collison, founders of mobile payments giant Stripe.
Patrick (left) and John Collison, founders of mobile payments giant Stripe.

John and Patrick Collison, the Limerick brothers that set up micro-payments firm Stripe, have become Ireland's youngest billionaires after their latest funding round, which raised $150m at a $9bn valuation.

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The pair own just under 30pc of the business and according to the Bloomberg Billionaires Index the net worth of their stake in the firm is valued at $1.1bn each.

A report from the Wall Street Journal suggests CapitalG and General Catalyst Partners led the most recent round of investment. Previous investors include Tesla's Elon Musk, Sequoia Capital, and Peter Thiel.

Patrick, 28, and his younger brother John, 25, are now placed amongst the world's most-exciting young billionaire founders, including Snap's Evan Spiegel and Uber's Travis Kalanick.

The pair's business has developed software that allows companies to accept payments online from a range of services that include Bitcoin and Android and Apple Pay.

Set up six years ago the firm has soared in value to boast major US clients like Facebook and Target.

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