Stripe is an American financial services and software as a service (SaaS) company dual-headquartered in San Francisco, California and Dublin, Ireland. The company primarily offers payment processing software and application programming interfaces (APIs) for e-commerce websites and mobile applications.
Irish entrepreneur brothers John and Patrick Collison founded Stripe in 2010, initially using the name /dev/payments. In March 2013, Stripe made its first acquisition, Kickoff, a chat and task-management application. In 2012, the company moved from Palo Alto to San Francisco. In October 2019, the company announced that it would be moving from the South of Market area to Oyster Point in the neighboring city of South San Francisco in 2021.
Stripe provides APIs that web developers can use to integrate payment processing into their websites and mobile applications.
In April 2018, the company released anti-fraud tools, branded “Radar”, that block fraudulent transactions.
In 2018, the company expanded its services to include a billing product for online businesses, allowing businesses to manage subscription recurring revenue and invoicing.
On June 11, 2019, Stripe’s point of sale service, called Terminal, was made available to U.S. users. Terminal had previously been invite-only. The service offers physical credit card readers designed to work with Stripe. As of July 2020, Terminal supports two card readers: Verifone P400 and BBPOS Chipper 2X BT.
On February 24, 2016, the company launched the Atlas platform to help startups register as U.S. corporations. The platform originally launched as invite-only. In March 2016, Cuba was added to the list of countries covered under the program. Companies registered using Atlas can be Delaware-based C corporations, or, as of April 30, 2018, limited liability companies.
In July 2018, Stripe began a platform for companies to issue Mastercard and Visa credit cards, available in private beta.
In 2018, Stripe started a publishing company named Stripe Press to promote ideas that support innovative businesses.
In 2019, Stripe began offering loans and credit cards to businesses in the United States. The company stated that loans are approved automatically using machine learning models, with no human intervention.
In October 2020, Stripe announced Stripe Climate, a service for businesses to fund atmospheric carbon research and capture.
In May 2011, Stripe received a $2 million investment from venture capitalists Peter Thiel, Sequoia Capital, and Andreessen Horowitz. Stripe launched publicly in September 2011 after an extensive private beta.
In May 2020, Stripe expanded its services in 5 new markets in Europe: the Czech Republic, Romania, Bulgaria, Cyprus, and Malta.
On October 15, 2020, Stripe acquired Paystack, a Nigerian payment processor, in a deal reportedly worth over $200 million with the aim of expanding its services into Africa.
In December 2020, Stripe announced plans to expand in Southeast Asia (SEA), China, India, and Japan. It increased its staff in the region by 200 employees.
|Date||Funding Type||Number of Investors||Money Raised||Lead Investor||Valuation|
|Aug 2, 2010||Seed Round||1||—||Y Combinator||—|
|Mar 28, 2011||Seed Round||4||$2M||—||—|
|Feb 9, 2012||Series A||1||$18M||Sequoia Capital||$100M|
|Jul 9, 2012||Series B||9||$20M||General Catalyst||—|
|Jan 22, 2014||Series C||4||$80M||Founders Fund||$1.75bn|
|Dec 2, 2014||Series C||7||$70M||Thrive Capital||$3.5bn|
|Jul 31, 2015||Series C||7||$100M||—||—|
|Nov 25, 2016||Series D||3||$150M||CapitalG, General Catalyst||$9bn|
|Sep 27, 2018||Series E||5||$245M||Tiger Global Management||$20bn|
|Jan 29, 2019||Series F||1||$100M||Tiger Global Management||$22.5bn|
|Sep 19, 2019||Series G||3+||$250M||Sequoia Capital, General Catalyst and Andreessen Horowitz||$35B|
|Apr 16, 2020||Series G Extension||3+||$600M||Sequoia Capital, General Catalyst, GV and Andreessen Horowitz||$36B|
Stripe is reported to have participated in two funding rounds for Monzo, a “challenger bank” based in the U.K. Stripe’s first investment in Monzo was reported on November 6, 2017, with a second investment in Monzo’s Series E fundraising round reported on October 10, 2018. Monzo’s valuation grew from approximately $350 million to $1.27 billion through these two rounds of fundraising. Stripe participated in a third round of funding for Monzo on June 24, 2019, which raised approximately $144 million in funding for Monzo at a valuation of approximately $2.5 billion.
Stripe has invested in companies offering similar services as themselves, but in different geographical regions. In August 2018, Stripe invested in Paystack, a Nigerian payment processor, and, in September 2019, invested in PayMongo, a Philippine payment processor.
On June 6, 2019, Stripe led a $22.5 million fundraising round for Step, a financial services startup offering fee-free bank accounts to teenagers.
On March 26th, 2020, Stripe led a $20 million Series A fundraising round for Fast, a company creating a universal, one-click checkout service.
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- ^Tsotsis, Alexia (9 July 2012). “Sexy Payments Startup Stripe Swipes $20M From General Catalyst, Sequoia, Thiel And More”. TechCrunch. Retrieved 14 February 2014.
- ^“Stripe expands its Atlas startup kit to let founders form LLCs”. TechCrunch. Retrieved 2018-05-01.
- ^Vance, Ashlee (September 26, 2018). “Payment Startup Stripe Is Now a $20 Billion Company”. www.bloomberg.com. Retrieved 2018-09-27.
- ^Rooney, Ryan Browne,Kate (2019-01-30). “Stripe rides the online payments boom to a $22.5 billion valuation”. CNBC. Retrieved 2019-08-06.
- ^Lunden, Ingrid. “Stripe raises $600M at $36B valuation in Series G extension, says it has $2B on its balance sheet”. TechCrunch. Retrieved 16 April 2020.
- ^ Jump up to:ab“Challenger bank Monzo raises another £71M from Goodwater Capital, Stripe and Michael Moritz”. TechCrunch. Retrieved 2019-06-14.
- ^ Jump up to:ab“Monzo, the UK challenger bank, raises £85M Series E at a £1B pre-money valuation”. TechCrunch. Retrieved 2019-06-14.
- ^Cook, James (2019-06-25). “Monzo’s valuation hits £2bn as the digital bank raises £113m in fresh funding”. The Telegraph. ISSN 0307-1235. Retrieved 2019-07-16.
- ^“Monzo, the UK challenger bank, raises £113M Series F led by YC’s Continuity fund at a £2B post-money valuation”. TechCrunch. Retrieved 2019-07-16.
- ^“Paystack, with ambitions to become the Stripe of Africa, raises $8M from Visa, Tencent… and Stripe itself”. TechCrunch. Retrieved 2019-06-14.
- ^“Manila-based payments processing startup PayMongo raises $2.7 million in seed funding”. TechCrunch. Retrieved 2019-09-26.
- ^“Step raises $22.5 million to help teens manage their money”. VentureBeat. 2019-06-06. Retrieved 2019-06-14.
- ^“Stripe leads $20M Series A into Fast, which is building a universal checkout service for e-commerce”. TechCrunch. Retrieved 2020-04-16.