€4.5bn valuation for Limerick brothers’ Stripe

An online payments start-up founded by Limerick brothers Patrick and John Collison is continuing its rapid Silicon Valley ascent with another round of funding that values the company at $5 billion (€4.52bn).

Credit card powerhouses Visa and American Express as well as venture capital fund, Sequoia Capital are among the investors involved in Stripe’s latest funding round.

Although Stripe declined to confirm the exact amount of funding they received on this occasion, the company indicated it was less than $100m.

The investment comes on the back of another major cash injection of $70m just eight months ago.

Much of its success has been based on its ability to strike partnerships with giants of commerce and technology such as Twitter, Facebook, American Express and now, Visa.

Stripe is to work with the global card giant to help develop payments security and software similar to the “buy buttons” it has helped Twitter roll out.

The buttons which allow customers to buy products direct from their Twitter feed is typical of its stated goal to expand internet commerce by making it easy to process transactions and manage online business.

Stripe now processes billions of dollars a year for thousands of businesses, from newly-launched start-ups to Fortune 500 companies.

The Visa tie-up will also allow the payments company founded in 2011 to utilise its partner’s extensive global network to expand its own international footprint beyond the 25 countries, including in which it operates.