San Francisco based payment processor raised a $245m venture financing from Tiger Global, valuing the startup at $20b.
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Stripe is now valued at $20B after raising another $245M led by Tiger
Led by Tiger Global Management, other new backers included DST Global and Sequoia, along with existing investors Andreessen, Kleiner, Khosla Ventures, General Catalyst and Thrive Capital. The company plans to use the funding to hire more people for what it describes as its “distributed global engineering team.” It now has hubs in San Francisco, Seattle and Dublin (its co-founders, John and Patrick Collison, hail from Ireland), and it’s also going to launch a new hub in Singapore. Engineering has been at the heart of the company’s growth from the start, up to now. Recall the famous essay by Paul Graham about Stripe that served as a mantra of sorts for how startups should grow. Fast forward to today, and Stripe boasts that “all told, the company deployed more than 3,200 new versions of its core API over the past year.”
