It is fitting that cutting-edge technology developed by two Irish brothers in Silicon Valley – and informally valued at US$1bn – is being deployed on the first e-commerce products back in Ireland by Drogheda-based web design agency MOR Solutions.
Stripe is an online payments engine built by John and Patrick Collison that simplifies the purchase of content and goods on websites.
The company raised its first round of funding of US$2m in March 2011 from investment veterans Peter Thiel, Elon Musk, Sequoia Capital and Andreesen Horowitz. This was followed by a further funding round of US$18m in February 2012 by Sequoia Capital that at the time valued their company at US$100m.
A report in May by SecondMarket.com listed Stripe as ranking alongside Pinterest as one of Silicon Valley’s rising stars, giving it an informal valuation of US$1bn.
MOR Solutions has been working with Stripe since it was launched in beta in Ireland earlier this year.
The company is the first to integrate Stripe’s Euro payments systems into its entire product line.
“We have added Stripe payments in our e-commerce products for clients such as Dental Medical Ireland (DMI),” said MOR founder Graham O’Rourke.
“DMI sell dental and medical equipment to the trade through their Intact WebShop e-commerce system. The system provides real-time stock, per customer pricing, promotional pricing, mobile support, invoicing and a host of features supporting their B2B/trade customers,” O’Rourke added.
The senior developer of the Intact Webshop product Mark Reilly said the company had early access to Stripe and was keen to add it as a standard option on its products.
“This gives our customers even more options for payments systems as we already include support for PayPal, SagePay and Realex Payments,” Reilly said.