Three weeks after closing an $80 million series C round to finance its international expansion, payments startup Stripe announced Tuesday it will support 130 additional currencies, on top of its existing four.
"What that means now is that any business or any developer using Stripe, they can now accept payment in any world currency from their customers," cofounder John Collison told Fast Company. Stripe, which launched in 2011, is backed by PayPal founders Peter Thiel, Elon Musk, and Max Levchin, and sports a $1.75 billion valuation after its latest round of fundraising.
Beginning Tuesday, Stripe users in the U.S., U.K., and parts of Europe will be able to sell their products locally, and the funds deposited to their bank accounts will be in their preferred currency. Previously, accepting payments in different currencies required individuals and companies to know their way around merchant banking systems and create new accounts for each currency, Collison said. "This is really the first time that it's been this easy to accept in any currency," he added. "What we're trying to do with Stripe is give them all the control they might need, but to do all the heavy lifting for them."