Payment app Stripe just raised $600 million bringing its total valuation to a whopping $95 billion.
Participation for the round came from Allianz X, AXA, Baillie Gifford, Fidelity Management & Research Company, Sequoia Capital, and Ireland’s National Treasury Management Agency.
Stripe will use the injection to expand its European business. Among notable partners in Europe are Axel Springer, Jaguar Land Rover, Maersk, Metro, Mountain Warehouse and Waitrose.
“In 2021, we will double down on our enterprise capabilities, particularly our customer success teams, to help even more large businesses like Twilio or Zapier significantly increase their revenue,” said Mike Clayville, Stripe’s Chief Revenue Officer.
“We will also invest in our global expansion to help companies such as Glofox or MatchesFashion increase their market opportunity. And through partnerships with enterprise solutions like Salesforce Commerce Cloud we will make it even easier for large multinationals around the world to switch to Stripe.”
Enterprise revenues mark some of the fastest growing business for Stripe.
In addition, the company will be expanding its global payments and treasury network.
“We’re investing in the infrastructure that will power internet commerce in 2030 and beyond. The pandemic taught us many things about society, including how much can be achieved – and paid for – online, but the internet still isn’t the engine for global economic progress that it could be. We’re laser focused on helping ambitious businesses grow faster,” said Dhivya Suryadevara, Stripe’s Chief Financial Officer.
“While Stripe already processes hundreds of billions of dollars per year for millions of businesses worldwide, the opportunity ahead is much larger for Stripe than it was when the company was started 10 years ago.”