Stripe lands $20bn valuation with new $245m funding

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Payments technology company Stripe gains a $20bn (£15bn) valuation after the $245 million funding round led by Tiger Global Management.

With investors like DST Global and Sequoia along with existing investors Andreessen Horowitz, Kleiner Perkins, Khosla Ventures, General Catalyst, and Thrive Capital, the San Francisco-based group makes its way to the list of top fintech platforms, with an impressive list of clients including the recently added Google and Uber.

After the recent jump into the offline by launching a point-of-sale payments terminal package targeted at online retailers, the firm is looking into the cash advance service, creating competition for Paypal and Square.

However, John Collison, CEO and co-founder of Stripe says that the company has no plans to follow the lead of European rival Adyen and take their company public with the new funding.

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