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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.

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
Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to ina@ecommercebytes.com. See disclosure at EcommerceBytes.com/disclosure/.