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Collisons all set to roll out Stripe in Ireland

Stripe, the US payments company started by multimillionaire Limerick brothers, is set to open for business in Ireland.

"Ireland is our first euro market," Patrick Collison told the Sunday Independent on Friday. "We started testing there a couple of days ago."

The firm, whose investors include early Twitter, Facebook and Paypal backers, has been subject to value speculations ranging from €500m to €1bn, and should go live within months, all being well.

"We also launched beta testing in the UK last month," Collison said. "We've always said we wanted to expand everywhere, including Ireland."

Stripe's easy transaction system has been a hit with start-ups and small businesses. In 24 hours in early April, Stripe processed more money than in its previous two years, a pick up Collison said was just due to "ordinary growth – a boring answer, I know". But it caused a sensation on Twitter.

Founding siblings Patrick and John Collison are thought to be worth at least €120m jointly, according to Rich List estimates. They sold their first technology company for €3.2m in 2007 while still in their teens, then set up Stripe.

Stripe's investors include PayPal founder and early Facebook investor Peter Theil, Tesla Motors' Elon Musk and Twitter backer Andreessen Horowitz. Collison has said he wants to see the company go to IPO. Competition from the likes of a revamped Google Wallet and other easy pay firms is hotting up, however.

Irish Independent