It is reported that stripe, a mobile payment startup, has received a 100 million-dollar investment in Tiger Global Management, the current round of financing has put the company’s valuation at more than $22 billion.
The round of financing is a follow-up to the $245 million in financing rounds that Tiger Global managers led last year, Stripe was valued at $20 billion last year. The money will be used for growth areas, including international expansion.
Stripe CEO Patrick Collison also announced on Twitter that former Google cloud CEO Diane Greene will join as the sixth board member.
Stripe was founded in 2010 by brothers Patrick and John Collison, both in their 20s, to provide online payment solutions. Stripe handles online payments for businesses, charging fees on each transaction through companies using Stripe’s services, and its valuation has risen rapidly as payments have moved broadly online.
Stripe’s biggest feature is that it has figured out the disadvantages of the payment market, such as complicated, lagging, low efficiency, high fees and complicated procedures. It aims at the global market with simple procedures, high efficiency and low fees.
Unlike programs as messy as a bank payment system, companies using Stripe’s services will only need to register a few lines of code on Stripe’s website to gain instant access to their payment infrastructure, and they’ll be able to use them forever.
For cross-border E-commerce platforms, these cash flow service providers greatly simplify the website payment process, and consumers can checkout as long as they fill in Email, credit card number and CVC credit card verification code.
This is similar to the simple and understandable operation process of Alipay and WeChat payment, which are popular in China.
Stripe partnered with Alipay and WeChat payments from China in July 2018, allowing business users around the world to accept payments from hundreds of millions of Chinese consumers. Currently, the company has offices in San Francisco, Seattle and Dublin.
The global Internet and mobile payment market pie is still large. Investors have flocked to payment companies in recent years as shopping volumes through the Internet and mobile payment devices are expected to soar.
The data shows that the Venture capital targeting mobile payment has shown a geometric growth trend since 2018. In particular, the European and American technology finance, including mobile payment, is just getting started. Capital targeting this field is the real growth and unicorn investment target!
Stripe Inc., the highest-valued Fintech startup in the U.S., is moving away from its competitors.