Fintech start-up Stripe is in talks to raise a new funding round valuing it higher than its last private valuation of US$36-billion, according to people familiar with the matter.
The valuation being discussed could be more than $70-billion or significantly higher, at as much as $100-billion, according to one of the people, who asked not be identified because the matter is private.
Talks are at an early stage and there’s no guarantee the funding round will be completed.
A representative for Stripe declined to comment.
During the pandemic, Stripe has benefited from an increase in shoppers turning to e-commerce, which led to more digital payments for it to process. Its software, which competes with offerings from Square and PayPal, is used by businesses to accept payments. It has more than 2 500 employees and 14 global offices, according to its website.
Irish brothers John and Patrick Collison founded Stripe in 2010. General Motors veteran Dhivya Suryadevara joined as chief financial officer earlier this year.
It’s backed by venture capital firms including Andreessen Horowitz, General Catalyst, Founders Fund, Khosla Ventures and Sequoia Capital. — Reported by Katie Roof and Scott Deveau, (c) 2020 Bloomberg LP