Online payments company Stripe expands to eastern Europe

Online payments company Stripe expands to eastern Europe
Patrick and John Collison

Stripe, the €19.8bn-valued online payments company founded by Limerick brothers Patrick and John Collison, is set to expand into eight European countries, primarily on the eastern side of the continent.

The Silicon Valley-based company will be expanding into Poland, Estonia, Latvia, Lithuania, Slovakia, Greece, and Portugal, it said, with that move being driven from its Dublin office, which doubles as its international engineering hub. The company, which offers payment processing services for web and mobile transactions, said that today’s announcement is indicative of its “strong growth overall”.

Stripe currently has more than 2,000 employees serving more than a million users worldwide.

“Central and eastern Europe has a lot of entrepreneurial and technological talent, and we believe even more of its companies could be expanding globally,” said Felix Huber, Stripe’s head of central and eastern Europe, Middle East, and Africa.

“Stripe aims to empower more companies from this region to export their creativity and ambition to the rest of the world,” he added.

Beginning from today, businesses in the eight countries covered by the expansion will be able to accept payments in 130 currencies using Stripe’s payments and treasury network. The region is “home to vast amounts of entrepreneurial and software engineering talent,” the company said.

Stripe was set up in 2010 by the Collison brothers, with Patrick (30, elder brother to 28-year-old John) now serving as its chief executive. Previously, Mr Collison had said that the company had chosen Dublin as its engineering hub due to the city’s talent pool.

In the nine years the company has been in existence, the brothers have become two of the world’s youngest self-made billionaires. Their net worth was estimated as being $2.1 bn (€1.9bn) apiece by Forbes magazine last June.

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