Stripe (company)

Stripe is an Irish-American financial services and software as a service (SaaS) company dual-headquartered in San Francisco, United States and Dublin, Ireland.[2][3] The company primarily offers payment processing software and application programming interfaces (APIs) for e-commerce websites and mobile applications.[4]

Stripe, Inc.
Founded2009; 12 years ago (2009)
FoundersPatrick and John Collison
San Francisco, California, US and Dublin, Ireland
  • Payments
  • Billing
  • Connect
  • Sigma
  • Atlas
  • Radar (fraud prevention)
  • Issuing
  • Terminal
RevenueIncrease $7.4 billion (2020)[1]
Number of employees
4,000+ (May 2021)
Footnotes / references


Irish entrepreneur brothers John and Patrick Collison founded Stripe in Palo Alto, CA, in 2009. In 2011, the company received investment of $2 million including from PayPal co-founders Elon Musk and Peter Thiel, Irish entrepreneur Liam Casey,[5] and venture capital firms Sequoia Capital, Andreessen Horowitz, and SV Angel.[6]

In March 2013, Stripe made its first acquisition, Kickoff, a chat and task-management application.[7] In 2012, the company moved from Palo Alto to San Francisco.[8] 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.[8]

In February 2021, former Governor of the Bank of England, Mark Carney, was appointed to the Stripe board.[6]


Payment processingEdit

Stripe provides APIs that web developers can use to integrate payment processing into their websites and mobile applications.[9]

In April 2018, the company released anti-fraud tools, branded "Radar", that block fraudulent transactions.[10]

In 2018, the company expanded its services to include a billing product for online businesses, allowing businesses to manage subscription recurring revenue and invoicing.[11]

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.[12] The service offers physical credit card readers designed to work with Stripe.[13][14] As of July 2020, Terminal supports two card readers: Verifone P400 and BBPOS Chipper 2X BT.[15]

Corporate financeEdit

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.[16] In March 2016, Cuba was added to the list of countries covered under the program.[17] Companies registered using Atlas can be Delaware-based C corporations, or, as of April 30, 2018, limited liability companies.[18]

In July 2018, Stripe began a platform for companies to issue Mastercard and Visa credit cards, and in April 2020, expanded the product's availability to include all U.S. users.[19][20]


In 2018, Stripe started a publishing company named Stripe Press to promote ideas that support innovative businesses.[21]

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.[22]

In October 2020, Stripe announced Stripe Climate, a service for businesses to fund atmospheric carbon research and capture.[23]


In May 2011, Stripe received a $2 million investment from venture capitalists Peter Thiel, Elon Musk, Sequoia Capital, SV Angel and Andreessen Horowitz.[24] Stripe launched publicly in September 2011 after an extensive private beta.[25]

In May 2020, Stripe expanded its services in 5 new markets in Europe: the Czech Republic, Romania, Bulgaria, Cyprus, and Malta.[26] And started working with the German-based company Piabo.[27]

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.[28][29][30][31]

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.[32]

In March 2021, Stripe raised another $600 million, reaching a valuation of $95 billion, aimed towards expanding their European HQ.[33]

In April 2021 Stripe acquired TaxJar, a provider of cloud-based tax services based in Massachusetts. Whilst details of the acquisition were not made public, the deal is thought to have been in the region of $200M.[34]

Funding History
Date Funding Type Number of Investors Money Raised Lead Investor Valuation
Aug 2, 2010 Seed Round 1 Y Combinator [35]
Mar 28, 2011 Seed Round 5 $2M Peter Thiel, Elon Musk, Sequoia Capital, Andreessen Horowitz, SV Angel
Feb 9, 2012 Series A 1 $18M Sequoia Capital $100M[36][37]
Jul 9, 2012 Series B 9 $20M General Catalyst [38]
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[39]
Sep 27, 2018 Series E 5 $245M Tiger Global Management $20bn[40]
Jan 29, 2019 Series F 1 $100M Tiger Global Management $22.5bn[41]
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[42]
Mar 14, 2021 Series H 3+ $600M Ireland's National Treasury Management Agency, Insurers Allianz SE and AXA SA, and investment managers Baillie Gifford & Co. and Fidelity Investments. $95B[33]


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,[43] with a second investment in Monzo's Series E fundraising round reported on October 10, 2018.[44] Monzo's valuation grew from approximately $350 million[43] to $1.27 billion[44] 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.[45][46]

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,[47] and, in September 2019, invested in PayMongo, a Philippine payment processor.[48] In February 2021, Stripe invested in Safepay, a Pakistani payment processor.[49]

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.[50]

On March 26, 2020, Stripe led a $20 million Series A fundraising round for Fast, a company creating a universal, one-click checkout service.[51] Subsequently, Stripe led a $102 million Series B fundraising round for Fast on January 26, 2021.[52]

See alsoEdit


  1. ^ Rudegeair, Peter (13 April 2021). "How Payment Processor Stripe Became Silicon Valley's Hottest Startup". Wall Street Journal.
  2. ^ a b "Stripe: About page".
  3. ^ "Stripe to add 1,000 jobs in Ireland over next five years". Silicon Republic. Retrieved 2021-05-13.
  4. ^ "Inside Stripe, The PayPal Competitor Backed By PayPal Founders Peter Thiel, Elon Musk". February 2012.
  5. ^ "Stripe was smart spot for Irish tycoon Liam Casey". The Times. March 4, 2018.
  6. ^ a b Cogley, Michael; Field, Matthew (23 February 2021). "How two brothers from rural Ireland built a $115bn payments giant". The Daily Telegraph. Retrieved 25 February 2021.
  7. ^ Rao, Leena. "Payments Company Stripe Makes First Acquisition, Buys Team Task Management And Collaboration App Kickoff". TechCrunch. Retrieved 16 January 2014.
  8. ^ a b Li, Roland (2019-10-24). "2nd most valuable U.S. startup to leave SF as city loses another headquarters". San Francisco Chronicle. Retrieved 2020-03-17.
  9. ^ Carr, Austin (February 1, 2012). "Inside Stripe, The Paypal Competitor Backed By Paypal Founders Peter Thiel, Elon Musk". FastCompany. Retrieved April 2, 2014.
  10. ^ Lunden, Ingrid. "Stripe debuts Radar anti-fraud AI tools for big businesses, says it has halted $4B in fraud to date". Retrieved 2018-04-18.
  11. ^ "Stripe launches a new billing tool to tap demand from online businesses". Retrieved 2018-04-26.
  12. ^ "Stripe Terminal". Retrieved 2018-11-20.
  13. ^ "Stripe Makes Terminal Available Across The US". 2019-06-11. Retrieved 2019-06-14.
  14. ^ "Stripe Terminal is now generally available in the US". Retrieved 2019-06-14.
  15. ^ "Stripe Terminal Readers". Retrieved 2019-10-18.
  16. ^ "Stripe Expands Startup Tools With Atlas, For Foreign Companies To Incorporate In Delaware". TechCrunch. Retrieved 2018-05-01.
  17. ^ "Stripe's startup toolkit Atlas opens for business in Cuba". TechCrunch. Retrieved 2018-05-01.
  18. ^[bare URL]
  19. ^ Verhage, Julie; Huet, Ellen (26 July 2018). "Stripe Starts Issuing Credit Cards". Bloomberg News. Retrieved 28 July 2018.
  20. ^ "Payments Startup Stripe Rolls Out Card Issuing for U.S. Clients". 2020-04-23. Retrieved 2021-01-16.
  21. ^ "Stripe Blog: Stripe Press". Stripe Blog. Stripe. Retrieved 23 December 2020.
  22. ^ "Stripe launches Stripe Capital to make instant loan offers to customers on its platform". TechCrunch. Retrieved 2020-06-25.
  23. ^ "Stripe Climate is a new tool to let Stripe customers make carbon removal purchases". TechCrunch. Retrieved 2020-10-28.
  24. ^ Arrington, Michael (March 28, 2011). "Stealth Payment Startup Stripe Backed By PayPal Founders". TechCrunch. Retrieved February 14, 2014.
  25. ^ "Stripe: instant payment processing for developers". Hacker News. 29 September 2011. Retrieved 14 February 2014.
  26. ^ "Stripe expands to 5 new markets". Ecommerce News Europe. Retrieved 2020-05-28.
  27. ^ "portfolio". PIABO. Retrieved 2021-03-03.
  28. ^ "Stripe acquires Nigeria's Paystack for $200M+ to expand into the African continent". TechCrunch. Retrieved 2020-10-15.
  29. ^ Kene-Okafor, Tage (2020-10-15). "Paystack has been acquired by Stripe in a deal rumoured to be around $200m". Techpoint Africa. Retrieved 2020-10-15.
  30. ^ "Stripe buys Nigeria's Paystack". Techcabal. 2020-10-15. Retrieved 2020-10-15.
  31. ^ "Stripe acquires Nigerian fintech startup, Paystack for over $200 million". Techcabal. 2020-10-15. Retrieved 2020-10-15.
  32. ^ Nunez, Adriana. "Stripe is planning to expand its business in Southeast Asia, China, India, and Japan". Business Insider. Retrieved 2020-12-14.
  33. ^ a b "Stripe closes $600M round at a $95B valuation". TechCrunch. Retrieved 2021-03-15.
  34. ^ Lunden, Ingrid. "Stripe acquires TaxJar to add cloud-based, automated sales tax tools into its payments platform".
  35. ^ "Stripe Press resources".
  36. ^ Mitroff, Sarah (9 February 2012). "Stripe attracts $18M in funding at $100M valuation". VentureBeat. Retrieved 14 February 2014.
  37. ^ Warnimont, Joe (4 April 2018). "Stripe Review: Payment Processor with Advanced Development and Clear Pricing". Ecommerce Platforms. Retrieved 4 May 2018.
  38. ^ Tsotsis, Alexia (9 July 2012). "Sexy Payments Startup Stripe Swipes $20M From General Catalyst, Sequoia, Thiel And More". TechCrunch. Retrieved 14 February 2014.
  39. ^ "Stripe expands its Atlas startup kit to let founders form LLCs". TechCrunch. Retrieved 2018-05-01.
  40. ^ Vance, Ashlee (September 26, 2018). "Payment Startup Stripe Is Now a $20 Billion Company". Retrieved 2018-09-27.
  41. ^ Rooney, Ryan Browne,Kate (2019-01-30). "Stripe rides the online payments boom to a $22.5 billion valuation". CNBC. Retrieved 2019-08-06.
  42. ^ 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.
  43. ^ a b "Challenger bank Monzo raises another £71M from Goodwater Capital, Stripe and Michael Moritz". TechCrunch. Retrieved 2019-06-14.
  44. ^ a b "Monzo, the UK challenger bank, raises £85M Series E at a £1B pre-money valuation". TechCrunch. Retrieved 2019-06-14.
  45. ^ 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.
  46. ^ "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.
  47. ^ "Paystack, with ambitions to become the Stripe of Africa, raises $8M from Visa, Tencent… and Stripe itself". TechCrunch. Retrieved 2019-06-14.
  48. ^ "Manila-based payments processing startup PayMongo raises $2.7 million in seed funding". TechCrunch. Retrieved 2019-09-26.
  49. ^ "Pakistani fintech Safepay raises seed funding from Stripe, others". MENAbytes. 2021-02-11. Retrieved 2021-07-14.
  50. ^ "Step raises $22.5 million to help teens manage their money". VentureBeat. 2019-06-06. Retrieved 2019-06-14.
  51. ^ "Stripe leads $20M Series A into Fast, which is building a universal checkout service for e-commerce". TechCrunch. Retrieved 2020-04-16.
  52. ^ "Fast raises $102M as the online checkout wars continue to attract huge investment". TechCrunch. Retrieved 2021-01-26.

Further readingEdit

External linksEdit