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Payment Startup Stripe Raises Its Valuation To $3.5 Billion After New Funding Round

Payment Startup Stripe Raises Its Valuation To $3.5 Billion After New Funding Round
[Photo: Flickr user LOST X SPACE]

It’s been a whirlwind 2014 for the payment startup Stripe. The company partnered with Apple for the new Apple Pay program in September. Over the summer, Facebook and Twitter announced that they were partnering with Stripe on new buy buttons that let users make purchases directly within the social media networks. In January, the company announced it had raised its valuation to $1.75 billion after a round of funding and would be looking at adding both staff and support for different payment options like bitcoin. Now the company is headed into 2015 with yet another huge valuation.

After another round of funding brought in another $70 million, Stripe is now valued at $3.5 billion. Thrive Capital joined previous investors Sequoia Capital, General Catalyst, Founders Fund, and Khosla Ventures in the just-finished round. The new funding round was first reported by The Financial Times.

Cofounder Patrick Collison told the FT the company had plenty of cash in reserve, but wanted to “err on the side of being really well-capitalised” in the event the markets slow down. But Stripe is just the latest startup to receive a multi-billion-dollar valuation in 2014.

Read a brief interview with Stripe cofounder John Collison Fast Company conducted after its previous round of funding in which he explains the company’s direction here.DM