(Reuters) – Payment processing firm Stripe said on Sunday its valuation hit $95 billion after it raised $600 million in a new funding round.
That makes Stripe the most valuable private company Silicon Valley has produced, according to the Financial Times.
Stripe said in a statement that primary investors in the funding round are units of Allianz SE, AXA SA, Baillie Gifford, Fidelity Management & Research Co, Sequoia Capital and Ireland’s National Treasury Management Agency (NTMA).
The company said it would use the capital to invest in its European operations, and its Dublin headquarters in particular, support surging demand and expand its Global Payments and Treasury Network.
Stripe has two headquarters, with the other in San Francisco.
“We’re investing a ton more in Europe this year, particularly in Ireland,” said John Collison, president and co-founder of Stripe.
Of the 42 countries in which Stripe is active, the company said 31 are in Europe.
“While Stripe already processes hundreds of billions of dollars per year for millions of businesses worldwide, the opportunity ahead is much larger … than it was when the company was started 10 years ago,” said Dhivya Suryadevara, Stripe’s chief financial officer.
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(Reporting by Scott DiSavino; Editing by Peter Cooney)
