Thursday 8 December 2016

Stripe worth $5bn: Collison brothers company gets new round of funding

Published 28/07/2015 | 08:59

'I will be very unhappy if Stripe does not get us to a place where it is appreciably easier for money to move online,' says John Collison Photo: David Paul Morris
'I will be very unhappy if Stripe does not get us to a place where it is appreciably easier for money to move online,' says John Collison Photo: David Paul Morris
Patrick Collison, chief executive officer and co-founder of Stripe Inc., stands for a photograph in San Francisco, California, U.S., on Friday, Mar. 2, 2012. Stripe Inc. is a new payment company that provides payment services software and solutions to process online credit and debit card payments. Photographer: David Paul
The Collison brothers, John (L) and Patrick (R), who founded online payments firm Stripe
John (right) and Patrick Collison created online payment business Stripe

Stripe, the online payments company founded by Limerick brothers Patrick and John Collison, has raised fresh funding that values the startup at €4.6bn ($5bn).

  • Go To

Chief executive Patrick Collison told The New York Times that the five-year-old firm has taken new investment from Visa, American Express and venture capital company Sequoia Capital. The new investment round, which the company says is "less than $100m", brings Stripe's overall funding to over €200m since it was started in 2010.

Stripe makes it easier for companies to accept credit and debit card payments online, particularly for merchants who have not engaged in online payments before.

The company has also announced a new partnership with credit card giant Visa, a move described as "huge" by investors.

“Stripe is not competing with the card networks,” Michael Moritz, Sequoia Capital partner said. “The fact that Visa has chosen to invest in Stripe, not in PayPal, is of absolutely huge significance."

Online Editors

Read More

Promoted articles

Editors Choice

Also in Business