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HomeeCommerce NewsPayment platform Stripe raises $600 million at a valuation of $36 billion: Report

Payment platform Stripe raises $600 million at a valuation of $36 billion: Report

Stripe

If you are aware of e-commerce platforms other than the likes of Amazon, Walmart and such major platforms, you would not know that payments are handled differently on those platforms. While we have a unified payment system on major e-commerce portals, the other e-commerce portals use payment providers who handle the payment process on their behalf. One of those platforms that handle payments for other platforms is called Stripe and it is one of the most used ones as well. Now, it is known that Stripe has just raised a lot of money and it is surprising because of the current COVID-19 pandemic situation.

Anyways, we are here to tell you that Stripe has raised a $600 million round of funding and this funding was raised at a valuation of $36 billion which has been informed by their co-founder and president John Collison to Axios. It is also known that Stripe’s funding is an extension of the Series G round they did earlier and not a new round of funding. Now, it makes perfect sense for investors who want to invest their money put them in a payments portal because it will be needed even during times of a pandemic when people pay online.

It is also said that Stripe, which was already the most valuable start-up in Silicon Valley, becomes even more valuable with this new funding. Stripe’s president also reveals that a big change has been seen due to the COVID-19 pandemic. He reveals that “Businesses that deferred moving online or had no reason to operate online have made the leap practically overnight,”. Now, this goes in line with the report from yesterday where 7 Eleven Australia said they are now taking orders online and also claimed to have made the portal ready in just a fortnight due to the surge in demand.

James Miller
Author: James Miller

I am passionate about technology and writing. I have 10+ years of experience in working with different digital media companies. If you have an interesting story, please feel free to send a mail to [email protected]

Author

I am passionate about technology and writing. I have 10+ years of experience in working with different digital media companies. If you have an interesting story, please feel free to send a mail to [email protected]