California based payment platform has raised a $250m Series E by undisclosed investors . The valuation on the round was $1.9bn.
The company works with other FinTechs like Square, Affirm, Klarna and Kabbage, and it said that last year in October its volume for payments grew 100 percent. The company has also recently expanded into Europe, where there are a number of digital startup banks like N26 and Revolut, which have been successfully challenging traditional banks. These types of banks now account for 14 percent of bank market revenue in Europe, which amounts to $238 billion. In the U.S., challenger banks only make up 3.5 percent.