Digital payment company Stripe said on Sunday that it had closed a $ 600 million round of financing, valuing the company at $ 95 billion – more than double its valuation a year ago.
Stripe said it would use the money to strengthen its European operations – particularly for its Dublin co-headquarters – and “to support growing demand from heavy businesses across Europe and expand its global payments and treasury network.” ”
Thirty-one of the 42 countries in which Stripe operates are in Europe.
“We are investing another tonne in Europe this year, especially in Ireland,” Stripe co-founder and president John Collison said in a statement. “Whether it’s fintech, mobility, retail or SaaS, the growth opportunity for the European digital economy is huge.”
Last month, Barron’s reported that Stripe is seeking additional funding, with a valuation target of about $ 100 billion.
In April last year, Stripe received about $ 600 million in funding at a valuation of $ 36 billion.
The San Francisco-based company had a total of about $ 1.6 billion in 14 rounds of funding ahead of Sunday’s announcement, according to Crunchbase.
Stripe said the main investors for the latest round of funding include Allianz X, Axis, Baillie Gifford, Fidelity Management & Research Company, Sequoia Capital and the National Treasury Management Agency of Ireland.
Stripe is one of the largest so-called unicorn companies and is a perennial candidate for a massive initial public offering.