Technology
Stripe, Digital Payments Start-Up, Raises New Funding and Partners With Visa
By MIKE ISAAC
Stripe is gaining more financial allies to help it take on the digital payments industry.
The start-up, based in San Francisco, said on Tuesday that it had raised new funding from investors like Visa, American Express and Sequoia Capital, among others, valuing the young company at $5 billion. That is a significant jump for Stripe, coming roughly six months after it garnered $70 million at a $3.5 billion valuation. Stripe declined to disclose the amount of new funding, except to say it was “less than $100 million.”
Founded five years ago, Stripe has quickly gained traction by offering simple software and services for online small and medium-size businesses. Similar to Square and PayPal, Stripe accepts credit and debit cards for merchants who have not taken them previously. Stripe charges a small fee per transaction.
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