San-Francisco, California-based an e-commerce start-up, Stripe has secured USD 70 million in series D at a valuation of USD 3.5 billion, led by Sequoia Capital with participation from Thrive Capital, General Catalyst Partners, Founders Funds and Khosla Ventures.
As per a New York Times report, the new funding will be used to grow the team and for expansion into international markets. It also plans to enhance the tools it offers to developers who use Stripe to process payments for their businesses.
The company had also made a partnership with Facebook and Twitter to put a ‘Buy’ button inside of these social platforms, and has recently announced a deal with China’s e-commerce platform Alipay. Stripe has teamed up with Apple to bring Apple Pay to makers of smartphone applications that allows users to pay for items with their smartphones.
Stripe is expected to be valued at USD 100 billion after it is split from Ebay, its parent company, next year. It was launched in 2010, as a venture of Co-Founder John Collison and Co-Founder & CEO Patrick Collison. It is known for providing a way to accept payments online with an aims to expand internet commerce by making process transactions and manage an online business. The company claims to billions of dollars a year for thousands of businesses from newly launched start-ups to Fortune 500 companies.
Including this round, Stripe has secured a total funding of USD 190 million in 6 rounds from 15 investors. Last year, Stripe had acquired soccer magazine, Kickoff, which providing information on South African soccer.