Profits and revenues surge at Stripe's UK arm

In March, Stripe Inc announced that it had raised an additional $6.5bn in funding

Patrick Collison, chief executive officer of Stripe Inc. (left) and John Collison, president of Stripe Inc. are estimated by Forbes to each have a net worth of $5.5bn.

Pre-tax profits at the UK arm of the Collison brothers’ Stripe online payments business last year increased more than fivefold to £14.56m (€16.76m).

New accounts show that pre-tax profits surged at the London-registered Stripe Payments UK Ltd after revenues increased by 42% or £156.67m from £371.1m to £527.8m (€607.8m) in the 12 months to the end of December last.