Stripe, Inc.

Stripe, Inc.
Founded2009; 14 years ago (2009)
FoundersPatrick and John Collison
  • Payments
  • Billing
  • Connect
  • Sigma
  • Atlas
  • Radar (fraud prevention)
  • Issuing
  • Terminal
RevenueIncrease US$12 billion (2021)[1]
Number of employees
8,000 (2022)[2]

Stripe, Inc. is an Irish-American financial services and software as a service (SaaS) company dual-headquartered in South San Francisco, California, United States and Dublin, Ireland.[3][4] The company primarily offers payment processing software and application programming interfaces (APIs) for e-commerce websites and mobile applications.[5]


Irish entrepreneur brothers John and Patrick Collison founded Stripe in Palo Alto, California, in 2009. In 2011, the company received investment of $2 million including from PayPal co-founders Elon Musk and Peter Thiel, Irish entrepreneur Liam Casey,[6] and venture capital firms Sequoia Capital, Andreessen Horowitz, and SV Angel.[7]

In March 2013, Stripe made its first acquisition, Kickoff, a chat and task-management application.[8]

In 2012, the company moved from Palo Alto to San Francisco.[9] In October 2019, the company announced that it would be moving from the South of Market area to Oyster Point in the neighbouring city of South San Francisco in 2021.[9]

In February 2021, former Governor of the Bank of England, Mark Carney, was appointed to the Stripe board.[7]

On October 20, 2021, Stripe acquired accountancy platform Recko; Recko’s solution will be added to Stripe’s existing suite of financial tools.[10]

In January 2022, Stripe entered a five-year partnership with Ford Motor Company; through this deal, Stripe will handle transactions for consumer vehicle orders and reservations.[11] That same month, Stripe partnered with Spotify to help creators monetize subscriptions, accept payments and launch recurring revenue streams.[12] In April 2022, Twitter announced that it will partner with Stripe Inc (digital payments' processor) for piloting cryptocurrency payouts for limited users in the platform. “The crypto payments will be routed through Stripe Connect, which will also handle KYC requirements”, Stripe said. The company announced it is also planning to add options for payment in other cryptocurrencies in the future.[13]

In April 2022, Stripe announced its strategic partnership with UK-based FinTech company ION.[14]

The Wall Street Journal reported in July 2022 that the company's internal share price had fallen, causing its implied valuation to drop from $95 billion to $74bn.[15] In November 2022, the company announced it intended to initiate layoffs, terminating some 14% of their workforce.[16]


Payment processing

Stripe provides APIs that web developers can use to integrate payment processing into their websites and mobile applications.[17] The company introduced Stripe Connect in 2012, a multiparty payments solution that lets software developers embed payments natively into their products.[18]

In April 2018, the company released anti-fraud tools, branded "Radar", that block fraudulent transactions.[19]

In 2018, the company expanded its services to include a billing product for online businesses, allowing businesses to manage subscription recurring revenue and invoicing.[20]

On June 11, 2019, Stripe's point of sale service, called Terminal, was made available to U.S. users. Terminal had previously been invite-only.[21] Terminal is currently available in Canada, France, Germany, Ireland, the Netherlands, Singapore, the United Kingdom. The service offers physical credit card readers designed to work with Stripe.[22][23]

In January 2022, Stripe agreed to acquire Terminal manufacturing partner BBPOS, allowing the company to bring the hardware development of Terminal readers in-house.[24] In February, Stripe was announced as Apple’s first partner on in-person Tap to Pay, which enables businesses to accept contactless payments using an iPhone and a partner-enabled iOS app.[25]

In June 2021, the company launched Stripe Tax, which lets businesses automatically calculate and collect sales tax, VAT, and GST in over 30 countries and all US states.[26]

In May 2021, Stripe introduced Payment Links, a no-code product allowing businesses to create a link to a checkout page and begin accepting payments on social platforms or direct channels.[27]

In May 2022, Stripe announced Data Pipeline, a tool for Stripe users who store data with Amazon Redshift or Snowflake Data Cloud. Data Pipeline syncs Stripe data and reports with Amazon Redshift or Snowflake Data Cloud, where they can be queried in combination with other business information.[28] That month, the company also introduced Stripe Financial Connections, enabling businesses to establish direct connections with their customers’ bank accounts to verify accounts for payments and payouts, check balances to reduce payment failures, and cut fraud by confirming bank account ownership.[29]

On September 5, 2019, Stripe launched a merchant cash advance scheme called Stripe Capital. The scheme allows Stripe merchants to request an advance on future payments they expect to process through their Stripe merchant account.[30]

Corporate finance

On February 24, 2016, the company launched the Atlas platform to help startups register as U.S. corporations. The platform originally launched as invite-only.[31] In March 2016, Cuba was added to the list of countries covered under the program.[32] Companies registered using Atlas can be Delaware-based C corporations, or, as of April 30, 2018, limited liability companies.[33]

In July 2018, Stripe the company introduced Stripe Issuing, a product that allows online businesses and platforms to create their own physical and digital credit and debit cards.[34][35]


In 2018, Stripe started a publishing company named Stripe Press to promote ideas that support businesses.[36][37]

In 2019, Stripe began offering loans and credit cards to businesses in the United States. The company stated that loans are approved automatically using machine learning models, with no human intervention.[38] The following year, the company introduced Stripe Treasury, which provides its platform users APIs to embed financial services, allowing their customers to send, receive, and store funds.[39]

In October 2020, Stripe announced Stripe Climate, a service for businesses to fund atmospheric carbon research and capture.[40] In 2022, Stripe started a new subsidiary called Frontier that would direct spending on carbon removal. It announced $925 million in funding from major silicon valley companies to fund start up companies performing carbon capture in order to kick start the industry.[41]

Stripe Identity, launched in June 2021, enables online businesses to verify user identities and is built on the same infrastructure used for Stripe’s own risk and compliance program.[42]


In May 2011, Stripe received a $2 million investment from venture capitalists Peter Thiel, Elon Musk, Sequoia Capital, SV Angel and Andreessen Horowitz.[43] Stripe launched publicly in September 2011 after an extensive private beta.[44]

In 2020 Stripe expanded its services to 5 new European markets: the Czech Republic, Romania, Bulgaria, Cyprus, and Malta.[45]

On October 15, 2020, Stripe acquired Paystack, a Nigerian payment processor, in a deal reportedly worth over $200 million with the aim of expanding its services into Africa.[46]

In December 2020, Stripe announced plans to expand in Southeast Asia (SEA), China, India, and Japan. It increased its staff in the region by 200 employees.[47]

In March 2021, Stripe raised another $600 million, reaching a valuation of $95 billion, aimed towards expanding their European HQ.[48]

In April 2021 Stripe acquired TaxJar, a provider of cloud-based tax services based in Massachusetts. Whilst details of the acquisition were not made public, the deal is thought to have been in the region of $200M.[49]

Funding history
Date Funding type Number of investors Money raised Lead investor Valuation
Aug 2, 2010 Seed round 1 Y Combinator [50]
Mar 28, 2011 Seed round 5 $2M Peter Thiel, Elon Musk, Sequoia Capital, Andreessen Horowitz, SV Angel
Feb 9, 2012 Series A 1 $18M Sequoia Capital $100M[51]
Jul 9, 2012 Series B 9 $20M General Catalyst [52]
Jan 22, 2014 Series C 4 $80M Founders Fund $1.75bn
Dec 2, 2014 Series C 7 $70M Thrive Capital $3.5bn
Jul 31, 2015 Series C 7 $100M
Nov 25, 2016 Series D 3 $150M CapitalG, General Catalyst $9bn[53]
Sep 27, 2018 Series E 5 $245M Tiger Global Management $20bn[54]
Jan 29, 2019 Series F 1 $100M Tiger Global Management $22.5bn[55]
Sep 19, 2019 Series G 3+ $250M Sequoia Capital, General Catalyst and Andreessen Horowitz $35bn
Apr 16, 2020 Series G Extension 3+ $600M Sequoia Capital, General Catalyst, GV and Andreessen Horowitz $36bn[56]
Mar 14, 2021 Series H 3+ $600M Ireland's National Treasury Management Agency, Insurers Allianz SE and AXA SA, and investment managers Baillie Gifford & Co. and Fidelity Investments. $95bn[48]


Stripe is reported to have participated in two funding rounds for Monzo, a "challenger bank" based in the U.K. Stripe's first investment in Monzo was reported on November 6, 2017,[57] with a second investment in Monzo's Series E fundraising round reported on October 10, 2018.[58] Monzo's valuation grew from approximately $350 million[57] to $1.27 billion[58] through these two rounds of fundraising. Stripe participated in a third round of funding for Monzo on June 24, 2019, which raised approximately $144 million in funding for Monzo at a valuation of approximately $2.5 billion.[59][60]

Stripe has invested in companies offering similar services as themselves, but in different geographical regions. In August 2018, Stripe invested in PayStack, a Nigerian payment processor,[61] and, in September 2019, invested in PayMongo, a Philippine payment processor.[62] In February 2021, Stripe invested in Safepay, a Pakistani payment processor.[63]

On June 6, 2019, Stripe led a $22.5 million fundraising round for Step, a financial services startup offering fee-free bank accounts to teenagers.[64]

On March 26, 2020, Stripe led a $20 million Series A fundraising round for Fast, a company creating a universal, one-click checkout service.[65] Subsequently, Stripe led a $102 million Series B fundraising round for Fast on January 26, 2021.[66] Fast shut down in April 2022.[67]

See also


  1. ^ Konrad, Alex (26 May 2022). "The Collison Brothers Built Stripe Into A $95 Billion Unicorn With Eye-Popping Financials. Inside Their Plan To Stay On Top". Forbes.
  2. ^ "The Cloud 100 2022". Forbes.
  3. ^ "Stripe to add 1,000 jobs in Ireland over next five years". Silicon Republic. Retrieved 2021-05-13.
  4. ^ Surane, Jennifer (14 July 2022). "Stripe Tells Staffers Internal Valuation Dropped More Than 27%". Bloomberg News. Archived from the original on 21 August 2022. The South San Francisco-based firm told employees...
  5. ^ "Inside Stripe, The PayPal Competitor Backed By PayPal Founders Peter Thiel, Elon Musk". Fast Company. February 2012.{{cite web}}: CS1 maint: url-status (link)
  6. ^ "Stripe was smart spot for Irish tycoon Liam Casey". The Times. March 4, 2018.
  7. ^ a b Cogley, Michael; Field, Matthew (23 February 2021). "How two brothers from rural Ireland built a $115bn payments giant". The Daily Telegraph. Retrieved 25 February 2021.
  8. ^ Rao, Leena (11 March 2013). "Payments Company Stripe Makes First Acquisition, Buys Team Task Management And Collaboration App Kickoff". TechCrunch. Retrieved 16 January 2014.
  9. ^ a b Li, Roland (2019-10-24). "2nd most valuable U.S. startup to leave SF as city loses another headquarters". San Francisco Chronicle. Retrieved 2020-03-17.
  10. ^ Scott Carey; Charlotte Trueman (January 7, 2022). "Noteworthy technology acquisitions 2021". Computer World. Retrieved January 23, 2022.
  11. ^ Ryan Browne (January 17, 2022). "Ford signs five-year payments deal with Stripe for e-commerce drive". CNBC. Retrieved January 28, 2022.
  12. ^ "Stripe Teams With Spotify to Drive Subscription Monetization for Creators". PYMNTS. January 25, 2022. Retrieved January 28, 2022.
  13. ^ Mattackal, Lisa Pauline (2022-04-22). "Twitter, Stripe pilot cryptocurrency payments for creators". Reuters. Retrieved 2022-04-24.
  14. ^ "ION PARTNERS WITH GLOBAL TECH FIRM". Insider Media Limited. 28 April 2022. Retrieved 28 April 2022.{{cite journal}}: CS1 maint: url-status (link)
  15. ^ Rudegeair, Berber Jin and Peter (14 July 2022). "Stripe Cuts Internal Valuation by 28%". Wall Street Journal. Retrieved 14 July 2022.
  16. ^ Surane, Jennifer (3 November 2022). "Stripe Cuts Headcount by 14%, Prepares for 'Leaner Times'". Bloomberg. Retrieved 3 November 2022.
  17. ^ Carr, Austin (February 1, 2012). "Inside Stripe, The Paypal Competitor Backed By Paypal Founders Peter Thiel, Elon Musk". FastCompany. Retrieved April 2, 2014.
  18. ^ Geron, Tomio (October 10, 2012). "Stripe Launches Stripe Connect To Let Users Accept Online Payments". Forbes. Retrieved December 21, 2022.
  19. ^ Lunden, Ingrid (18 April 2018). "Stripe debuts Radar anti-fraud AI tools for big businesses, says it has halted $4B in fraud to date". Retrieved 2018-04-18.
  20. ^ "Stripe launches a new billing tool to tap demand from online businesses". Techcrunch. 5 April 2018. Retrieved 2018-04-26.{{cite web}}: CS1 maint: url-status (link)
  21. ^ "Stripe Terminal". Retrieved 2018-11-20.
  22. ^ "Stripe Makes Terminal Available Across The US". 2019-06-11. Retrieved 2019-06-14.
  23. ^ "Stripe Terminal is now generally available in the US". Retrieved 2019-06-14.
  24. ^ "Stripe Terminal's In-Person Payment Volume Grows 'Sixfold' as Shoppers Return to Stores". PYMNTS. 21 January 2022. Retrieved 2023-01-29.
  25. ^ "Stripe will be first to enable Tap to Pay on iPhone". PYMNTS. 9 February 2022. Retrieved 2023-01-29.
  26. ^ "Digital payments giant Stripe launches new software to simplify how companies work out sales taxes". CNBC. 6 June 2021. Retrieved 2023-01-29.
  27. ^ "Stripe unveils Payment Links to sell online without a website". IBS Intelligence. 28 May 2021. Retrieved 2023-01-29.
  28. ^ "Stripe Debuts Data Pipeline Tool for Data Synchronization". PYMTS. 18 May 2022. Retrieved 2023-01-29.
  29. ^ "Stripe flexes its fintech muscle with Financial Connections to pull banking data automatically". TechCrunch. 4 May 2022. Retrieved 2023-01-29.
  30. ^ "Stripe launches Stripe Capital to make instant loan offers to customers on its platform". 2019-09-05. Retrieved 2022-07-08.
  31. ^ "Stripe Expands Startup Tools With Atlas, For Foreign Companies To Incorporate In Delaware". TechCrunch. 24 February 2016. Retrieved 2018-05-01.
  32. ^ "Stripe's startup toolkit Atlas opens for business in Cuba". TechCrunch. 18 March 2016. Retrieved 2018-05-01.
  33. ^ "Stripe Atlas for LLCs".
  34. ^ Verhage, Julie; Huet, Ellen (26 July 2018). "Stripe Starts Issuing Credit Cards". Bloomberg News. Retrieved 28 July 2018.
  35. ^ "Payments Startup Stripe Rolls Out Card Issuing for U.S. Clients". 2020-04-23. Retrieved 2021-01-16.
  36. ^ Kokalitcheva, Kia (2018-07-17). "Payments company Stripe is getting into book publishing". Axios.
  37. ^ Pier Luigi Pisa (2022-06-20). "La storia di Patrick Collison: nove linee di codice per conquistare il mondo" [Patrick Collison's Story: Nine Lines of Code to Conquer the World]. la Repubblica (in Italian).
  38. ^ "Stripe launches Stripe Capital to make instant loan offers to customers on its platform". TechCrunch. 5 September 2019. Retrieved 2020-06-25.
  39. ^ "Stripe to Offer Banking Services in Deal With Goldman Sachs, Citigroup". Wall Street Journal. 3 December 2020. Retrieved 2023-01-29.
  40. ^ "Stripe Climate is a new tool to let Stripe customers make carbon removal purchases". TechCrunch. 28 October 2020. Retrieved 2020-10-28.
  41. ^ Meyer, Robinson (2022-04-13). "We've Never Seen a Carbon-Removal Plan Like This Before". The Atlantic. Retrieved 2022-04-18.
  42. ^ "Stripe goes beyond payments with Stripe Identity to provide AI-based ID verification for transactions and much more". TechCrunch. 14 June 2021. Retrieved 2023-01-29.
  43. ^ Arrington, Michael (March 28, 2011). "Stealth Payment Startup Stripe Backed By PayPal Founders". TechCrunch. Retrieved February 14, 2014.
  44. ^ "Stripe: instant payment processing for developers". Hacker News. 29 September 2011. Retrieved 14 February 2014.
  45. ^ "Stripe expands to 5 new markets". Ecommerce News Europe. 28 May 2020. Retrieved 2020-05-28.
  46. ^ "Stripe acquires Nigeria's Paystack for $200M+ to expand into the African continent". TechCrunch. 15 October 2020. Retrieved 2020-10-15.
  47. ^ Nunez, Adriana. "Stripe is planning to expand its business in Southeast Asia, China, India, and Japan". Business Insider. Retrieved 2020-12-14.
  48. ^ a b "Stripe closes $600M round at a $95B valuation". TechCrunch. 14 March 2021. Retrieved 2021-03-15.
  49. ^ Lunden, Ingrid. "Stripe acquires TaxJar to add cloud-based, automated sales tax tools into its payments platform".
  50. ^ "Stripe Press resources".
  51. ^ Mitroff, Sarah (9 February 2012). "Stripe attracts $18M in funding at $100M valuation". VentureBeat. Retrieved 14 February 2014.
  52. ^ Tsotsis, Alexia (9 July 2012). "Sexy Payments Startup Stripe Swipes $20M From General Catalyst, Sequoia, Thiel And More". TechCrunch. Retrieved 14 February 2014.
  53. ^ "Stripe expands its Atlas startup kit to let founders form LLCs". TechCrunch. 30 April 2018. Retrieved 2018-05-01.
  54. ^ Vance, Ashlee (September 26, 2018). "Payment Startup Stripe Is Now a $20 Billion Company". Retrieved 2018-09-27.
  55. ^ Rooney, Ryan Browne,Kate (2019-01-30). "Stripe rides the online payments boom to a $22.5 billion valuation". CNBC. Retrieved 2019-08-06.
  56. ^ Lunden, Ingrid (16 April 2020). "Stripe raises $600M at $36B valuation in Series G extension, says it has $2B on its balance sheet". TechCrunch. Retrieved 16 April 2020.
  57. ^ a b "Challenger bank Monzo raises another £71M from Goodwater Capital, Stripe and Michael Moritz". TechCrunch. 7 November 2017. Retrieved 2019-06-14.
  58. ^ a b "Monzo, the UK challenger bank, raises £85M Series E at a £1B pre-money valuation". TechCrunch. 31 October 2018. Retrieved 2019-06-14.
  59. ^ Cook, James (2019-06-25). "Monzo's valuation hits £2bn as the digital bank raises £113m in fresh funding". The Telegraph. ISSN 0307-1235. Retrieved 2019-07-16.
  60. ^ "Monzo, the UK challenger bank, raises £113M Series F led by YC's Continuity fund at a £2B post-money valuation". TechCrunch. 24 June 2019. Retrieved 2019-07-16.
  61. ^ "Paystack, with ambitions to become the Stripe of Africa, raises $8M from Visa, Tencent… and Stripe itself". TechCrunch. 28 August 2018. Retrieved 2019-06-14.
  62. ^ "Manila-based payments processing startup PayMongo raises $2.7 million in seed funding". TechCrunch. 25 September 2019. Retrieved 2019-09-26.
  63. ^ "Pakistani fintech Safepay raises seed funding from Stripe, others". MENAbytes. 2021-02-11. Retrieved 2021-07-14.
  64. ^ "Step raises $22.5 million to help teens manage their money". VentureBeat. 2019-06-06. Retrieved 2019-06-14.
  65. ^ "Stripe leads $20M Series A into Fast, which is building a universal checkout service for e-commerce". TechCrunch. 26 March 2020. Retrieved 2020-04-16.
  66. ^ "Fast raises $102M as the online checkout wars continue to attract huge investment". TechCrunch. 26 January 2021. Retrieved 2021-01-26.
  67. ^ "Fast shuts doors after slow growth, high burn precluded fundraising options". TechCrunch. 5 April 2022. Retrieved 2022-10-23.

Further reading

  • Rudegeair, Peter (April 13, 2021). "How Payment Processor Stripe Became Silicon Valley's Hottest Startup". Wall Street Journal. ISSN 0099-9660.

External links

  • Official website
  • How I Built This—Stripe: Patrick and John Collison (audio interview)
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