Stripe raises extra $250m for expansion push

Stripe raises extra $250m for expansion push
Stripe founders Patrick and John Collison

Irish-founded online payments company Stripe is raising $250m (€226m) in additional funding from a number of institutional investors.

The California-headquartered company - founded by Limerick-born brothers Patrick and John Collison - will use the funding to accelerate its growth in three key areas; growing its product line, international expansion and extending its enterprise capabilities.

The new funding values the company at $35bn.

"Even now, in 2019, less than 8% of commerce happens online," said John Collison. "We’re investing now to build the infrastructure that’ll power internet commerce in 2030 and beyond. If we get it right, we can help the internet fulfill its potential as an engine for global economic progress," he said.

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