The billion-dollar Collison brothers

Two Limerick brothers are set to join the world’s mega-wealthy after having their company valued at $1.75bn (€1.3bn).

Silicon Valley company Stripe was founded by Patrick, 25, and John Collison, 23, in 2010 with the goal of making it easier to bill a business on the internet. Its value rocketed after it raised $80m from investors.

Patrick said the latest valuation reflected the promise shown by his company, which processed billions of dollars in payments last year for businesses from ranging from small companies to the Museum of Modern Art in New York.