Payment startup Stripe bags USD20 million funding

Plans to expand to Europe

Online payments firm Stripe has raised USD20 million in a Series B round of financing, led by General Catalyst. Current investors Sequoia, Peter Thiel and Elad Gil also contributed. Redpoint will also be joining as an investor alongside angels Chris Dixon and Aaron Levie.

Founded in 2010, Stripe provides infrastructure to developers, rather than a payments service as such. The firm attempts to make it easier for developers to implement payments systems. Co-founder Patrick Collison tells TechCrunch that there are currently 100,000 developer accounts in Stripe, with some “major” e-commerce players to follow. Collison plans to use the funding for new hires as the company scales up. Stripe has just launched in beta in Canada, and plans to expand to Europe.

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