Payments platform Stripe announced on Thursday it secured $250 million through latest funding round at a new pre-money valuation of $35 billion. Investors involved in the funding round included General Catalyst, Sequoia, and Andreessen Horowitz.
The latest round of funding comes just days after Stripe announced new products, including Stripe Capital, to give businesses easier access to funds; the Stripe Corporate Card, to manage their corporate spending; instant payouts to all US Stripe accounts.
“Stripe processes hundreds of billions of dollars a year for millions of businesses worldwide, including now Wayfair, Twilio, GitHub, and The RealReal. Our user base is expanding to both ends of the spectrum: on one end, entrepreneurs continue to choose Stripe as the easiest way to start an internet business; and on the other, complex international enterprises are increasingly trusting Stripe with core payment processing.”
Speaking about the investment, John Collison, President and Co-Founder of Stripe, stated:
“Even now, in 2019, less than eight percent of commerce happens online. We’re investing now to build the infrastructure that’ll power internet commerce in 2030 and beyond. If we get it right, we can help the internet fulfill its potential as an engine for global economic progress.”
Stripe went on to add that the funds from the investment round will go towards accelerating its growth in three key areas, which are accelerating international expansion, growing its product suite, and extending its enterprise capabilities.