Stripe co-founder and CEO Patrick Collison on stage. Image: Stripe
A filing with the SEC shows that Stripe raised fresh funding by selling shares after being valued at $65bn in February.
Stripe, the Irish-founded global fintech giant, recently raised more than $694m in a stock sale that it first announced in February.
According to a regulatory filing published with the US Securities and Exchange Commission (SEC) on Friday (12 April), Stripe sold $694.16m in stocks amid growing investor interest in a potential IPO.
The latest funding comes less than two months since the company founded by Limerick brothers Patrick and John Collison in 2010 was valued at $65bn after signing agreements with investors to provide liquidity to its current and former employees in a tender offer, which allowed employees to cash out their stock – likely providing the fintech giant with more flexibility before going public.
Chief financial officer Steffan Tomlinson said at the time that the valuation came amid “strong momentum” with a range of clients, from newly formed start-ups to sophisticated enterprises such as Alaska Airlines, Best Buy, Lotus Cars, Microsoft, Uber and Zara.
“When we first partnered with Stripe in 2010, it was a scrappy payments innovator,” Roelof Botha, managing partner at Sequoia Capital, one of the company’s many investors, said then.
“More than a decade later, Stripe has evolved beyond payments to set a new standard for financial infrastructure – driving significant revenue growth for its users. The company’s attention to the most minuscule details delivers outsized results.”
Stripe describes itself as a financial infrastructure platform for businesses. It is one the world’s most well-known fintech companies and is widely regarded as the best example of an Irish start-up success story on the world stage.
Last year, as the company celebrated 10 years in Ireland, it revealed that Irish businesses had processed more than €20bn in payments through Stripe. Some of its Irish clients include Wayflyer, Glofox (which was acquired by a US tech group in 2022), Irish Life, Smyths Toys and the Gaelic Athletic Association.
Stripe experienced its busiest four-day period ever over the Black Friday weekend in November last year, claiming it processed more than 300m transactions. It processed more than $1trn of payments for its clients last year, a 25pc increase year-on-year.
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