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Stripe Raises $70 Million to Fund Ecommerce Payments Expansion

Stripe raised $70 million in funding this week according to the Financial Times, which said the company is now valued at $3.5 billion.

“It follows an $80m fundraising in January that valued the company at $1.75bn and will help with expanding into more countries and new areas of online commerce.”

Recently one of Stripe’s investors, General Catalyst, created the GC Stripe Platform Fundto invest $10 million in venture capital for businesses and applications built on the Stripe Connect platform to help in the creation of some “killer apps” for the online payment service.

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EcommerceBytes profiled Stripe in January in which company cofounder and president John Collison explained merchants liked Stripe for the control it provides them.

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Ina Steiner

Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. Send news tips to ina@ecommercebytes.com.


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