Stripe has nearly tripled in value in less than a year to reach $95 billion in its latest funding round to become the largest American startup by market capitalization, as the company added $600 million to its value in the latest funding round, bringing its valuation to the top.
As news networks reported last November that Stripe was in talks with several investors, who were supposed to raise the value of the company to more than $70 billion, with the possibility of raising its market value to about $100 billion, and it is reported that its evaluation exceeded that of the famous “Elon Musk” company, SpaceX and Instacart.
Stripe was founded in 2010 by Irish brothers Patrick Collison and John Collison, whose fortunes rose from $4.3 billion in their latest funding round to $11.4 billion.
The company’s software, which competes with the businesses of Square and PayPal, is used by businesses as a means of receiving payments electronically, and its main customers are Amazon, Salesforce and Lyft.
The group of major investors in the company includes big names such as Allianz Group Investments, Axa SA, Baillie Gifford, Fidelity Management & Research, Sequoia Capital and Ireland’s National Treasury Management Agency.
According to the company’s CEO, it is not currently focusing on an initial public offering and has chosen investors who share its long-term outlook.