Stripe valued at $3.5 billion

The payments startup Stripe, created by Irish brothers Patrick (pictured) and John Collison, has been valued at $3.5 billion following a cash injection of $70 million from venture capitalists.

The latest round of funding comes from investors including Sequoia, General Catalyst, Founders Fund, Khosla Ventures and Thrive Capital. The company has raised $210m in total.

Based in San Francisco, Stripe is a payments processor that facilitates online and mobile transactions and has been billed as a possible rival to PayPal, which issued a failed takeover bid last year. Merchants are able to get set up on the system in a matter of minutes in order to run credit card payments and bank transfers in 139 currencies, as well as Bitcoin. Stripe software can also be built into payment apps by developers.

The company has recently entered into a string of high profile partnerships with technology companies. It was selected to power Facebooks’s “Buy” button and joining Visa and First Data to become one of the first Apple Pay partners in September.


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