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The SF based payments startup continues to make waves. The company secured its latest round of financing at a $5b valuation. That is a significant increase in valuation nearly six months after the company raised $70m on a $3.5b valuation. Stripe did not disclose the amount of capital raised in this round, but the company did confirm that the round raised less than $100m.
On Tuesday Stripe also announced a partnership with Visa, one of the world's largest credit card companies, in which the two will work on ways to improve digital transactions. The companies said they expected to collaborate on initiatives like payments security, as well as software like website "buy buttons." Stripe said it would rely on Visa's global footprint to expand its international availability. Stripe is currently available to businesses in more than 25 countries, and hopes to expand further with help from Visa. "As Stripe thinks about the best ways to move the overall payments ecosystem forward, the biggest determinants on the financial side are the credit card networks," Patrick Collison, co-founder and chief executive of Stripe, said in an interview. "We hope to continue working closely with them."
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