Fintech startup Stripe raises $150M in latest funding

Stripe Inc., a fintech startup headquartered in San Francisco, has raised $150 million in a series D funding round, which will double its valuation to $9.2 billion, The Wall Street Journal reported.

The recent funding round is being co-led by CapitalG, an investing arm of Alphabet Inc., and General Catalyst Partners, one of Stripe’s earliest investors. In addition, it is also drawing support from existing investors including Sequoia Capital.

Stripe has also separately received a credit line from leading banks including J.P. Morgan Chase & Co., Goldman Sachs Group Inc., Morgan Stanley and Barclays PLC. The company has now raised nearly $460 million.

Will Gaybrick, Chief Financial Officer at Strip, said that the company intends to utilize the money to acquire companies and invest further in international expansion. Besides acquiring three firms, the startup has also set its foot in Japan, France, Singapore and Spain this year.

Founded in 2010 by Patrick and John Collison, Stripe is a digital payments company that builds powerful and flexible tools for internet commerce. It aims to make it easy to process transactions and manage an online business.

Stripe processes billions of dollars a year for thousands of businesses, from newly-launched start-ups to Fortune 500 companies. Web and mobile businesses around the world are using Stripe, which includes Twitter, Kickstarter, Shopify, Salesforce, Lyft, and several others.