In April 2020, the company raised $600M from investors including Sequoia, GV, Andreessen Horowitz, and General Catalyst at a $36B valuation. Stripe has broadened its product offerings across the entire payments stack. And the rise in e-commerce sales due to the Covid-19 pandemic has only added to Stripe’s growth rate. Today, it works with companies in over 120 countries spanning every industry, company size, and business model.
Over the last decade, Stripe has expanded its platform beyond payments processing to handling more complex marketplace transactions through Stripe Connect, while also offering complementary services to help facilitate online commerce, drive growth for customers, and expand the funnel of internet businesses globally.Īs a result of its product innovation efforts, Stripe has seen explosive growth in product adoption and valuation. Stripe’s early success in acquiring customers was largely due to its mass appeal to the developer community. The company’s strategy also includes deference to developers, as well as a focus on directly serving developers who build websites and applications using Stripe’s product. In an interview at CB Insights’ 2019 Future of Fintech conference, Stripe CPO William Gaybrick indicated that businesses are more constrained by developer resources than by capital. Stripe is also pursuing some more unexpected offerings, including resources to help companies build their own internal analytics tools, and Stripe Atlas, which helps entrepreneurs create US-incorporated businesses in minutes. These APIs handle everything from acceptance and processing to settlement and reconciliation, while ensuring compliance and security. To help enable online commerce, Stripe is building a suite of APIs that allow developers to implement its payment capabilities. “Stripe really did come about because we were really appalled by how hard it was to charge for things online.” - John Collison Specifically, the Collisons aimed to more seamlessly connect online businesses and payment processors, allowing more businesses to accept online payments. This growth has created major opportunities in the payments space, and companies like Stripe - a payments unicorn valued at a massive $36B - are hungry to capitalize on them.īrothers Patrick and John Collison founded Stripe in 2010 in an attempt to gain share in online payments, a then-nascent market with seemingly boundless growth opportunities. As businesses and consumers become more comfortable using credit cards online, the proportion of US commerce that takes place online has steadily increased over the last 20 years.
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