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Stripe Latest Round €80bn Valuation


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CategoryBusiness
DateTuesday, March 16, 2021
AuthorNewsdesk@IrishDev.com

Stripe Latest Round €80bn Valuation

Payments Company to Expand European Operations with 1000 New Jobs Over Next Five Years to Support Surging Demand

Eileen O’Mara, Head of EMEA Revenue & Growth at Stripe. Europe is home to many of the world’s most exciting and dynamic tech companies, and also to century-old brands intelligently adapting to the internet economy.

Payments company, Stripe, has announced plans to significantly expand its operations in Ireland, on the back of its latest funding round of $600 million (€500 million) with investors Allianz X, Axa, Baillie Gifford, Fidelity Management & Research Company, Sequoia Capital and the Ireland Strategic Investment Fund (ISIF).

 

The company will use the capital to invest in its European operations to support surging demand driven by companies such as Axel Springer, Jaguar Land Rover, Maersk, Metro, Mountain Warehouse and Waitrose, all of who have chosen Stripe in their journeys to diversify online or accelerate their digital transformation.

 

Additionally, enterprise across 31 European countries such as Deliveroo (UK), Doctolib (France), Klarna (Sweden), ManoMano (France), N26 (Germany), UiPath (Romania) and Vinted (Lithuania), along with Glofox, DoneDeal, Intercom and LetsGetChecked in Ireland, all build on Stripe to compete on the global stage.

 

Eileen O’Mara (pictured), Head of EMEA Revenue & Growth at Stripe, said; “Europe is home to many of the world’s most exciting and dynamic tech companies, and also to century-old brands who are  intelligently adapting to the internet economy. We are hugely excited by the opportunities ahead for European businesses.”  

 

Stripe says it also plans to expand its Global Payments and Treasury Network further expanding its suite of software and services to help businesses drive more revenue. Only 14% of commerce takes place online today, despite the global economy accelerating its shift to online in 2020. Stripe’s mission is to grow the GDP of the internet, making it easy for ambitious companies everywhere to grow their business.

 

 

Dhivya Suryadevara, Stripe’s Chief Financial Officer, said; “We’re investing in building the infrastructure that will power internet commerce in 2030 and beyond. The pandemic taught us many things about society, including how much can be achieved and paid for online. But the internet still isn’t the engine for global economic progress that it could be. We’re laser focused on accelerating the growth of ambitious businesses. The opportunity ahead is much larger for Stripe than it was when the company was started 10 years ago”.

 

The new funding round values Stripe at $95B (€80B). Conor O'Kelly, CEO of NTMA, which manages the ISIF, said; “Stripe is an accelerator of global economic growth and a leader in sustainable finance. Despite making great progress over the last 10 years, we are convinced that most of Stripe’s success is yet to come, and we’re delighted to back Ireland’s and Europe’s most prominent success story."

 

Today, Stripe employs over 3000 people globally, 300 of which are located in its European HQ in Dublin. It says it will add an additional 1000 people over the next five years.

 

 

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