Stripe (company)
Stripe is an American financial services and software as a service (SaaS) company headquartered in San Francisco, California, United States. The company primarily offers payment processing software and application programming interfaces (APIs) for e-commerce websites and mobile applications.[2]
![]() | |
Private | |
Industry | |
Founded | 2010 |
Founders | |
Headquarters | , US |
Area served | European Union, Australia, Canada, Hong Kong, India, Japan, Malaysia, Malta, Mexico, New Zealand, Norway, Singapore, Switzerland, United Kingdom, United States Private beta Brazil |
Services |
|
Number of employees | 2,500+[1] (June 2020) |
Website | stripe |
![](../I/m/Stripe_headquarters_(San_Francisco%2C_2019)_-2.jpg)
History
Irish entrepreneur brothers John and Patrick Collison founded Stripe in 2010, initially using the name /dev/payments.[3][4][5]
In 2012, the company moved from Palo Alto to San Francisco.[5]
In March 2013, Stripe made its first acquisition, Kickoff, a chat and task-management application.[6]
In October 2019, the company announced that it would be moving from the South of Market area to Oyster Point in the neighboring city of South San Francisco in 2021.[5]
Services
Payment processing
Stripe provides APIs that web developers can use to integrate payment processing into their websites and mobile applications.[7]
In April 2018, the company released anti-fraud tools, branded "Radar", that block fraudulent transactions.[8]
In 2018, the company expanded its services to include a billing product for online businesses. The service operates within the Stripe platform, allowing businesses to manage subscription recurring revenue and invoicing.[9]
Connect
In 2012, Stripe launched Connect, a service allowing businesses to create platforms, such as marketplaces, where Stripe handles the payment processing between buyers and sellers.[10]
Atlas
On February 24, 2016, the company launched the Atlas platform to register U.S. companies for startups. The platform originally launched as invite-only.[11] In March 2016, Cuba was added to the list of countries covered under the program.[12] Atlas was relaunched with improvements the following year. As of April 2017, Atlas had signed more than 200 international startups.[13] As of March 2019, startups from 120 countries have used Stripe Atlas to start their business.[14]
Companies registered using Atlas can be Delaware-based C corporations, or, as of April 30, 2018, limited liability companies.[15]
Issuing
In July 2018, Stripe began a platform for companies to issue Mastercard and Visa credit cards, available in private beta.[16]
Terminal
On September 17, 2018, Stripe announced a new point of sale solution called Terminal, initially launched as an invite-only beta. The service offers physical credit card readers designed to work with Stripe.[17] As of July 2020, Terminal supports two card readers: Verifone P400 and BBPOS Chipper 2X BT.[18] On June 11, 2019, Stripe made Terminal available to all U.S. users, ending the product's beta testing phase.[19][20]
Growth
In May 2011, Stripe received a $2 million investment from venture capitalists Peter Thiel, Sequoia Capital, and Andreessen Horowitz.[22] Stripe launched publicly in September 2011 after an extensive private beta.[23]
In May 2020, Stripe expanded its services in 5 new markets in Europe: the Czech Republic, Romania, Bulgaria, Cyprus, and Malta.[24]
Date | Funding Type | Number of Investors | Money Raised | Lead Investor | Valuation |
---|---|---|---|---|---|
Aug 2, 2010 | Seed Round | 1 | — | Y Combinator | —[25] |
Mar 28, 2011 | Seed Round | 4 | $2M | — | — |
Feb 9, 2012 | Series A | 1 | $18M | Sequoia Capital | $100M[26][27] |
Jul 9, 2012 | Series B | 9 | $20M | General Catalyst | —[28] |
Jan 22, 2014 | Series C | 4 | $80M | Founders Fund | $1.75bn |
Dec 2, 2014 | Series C | 7 | $70M | Thrive Capital | $3.5bn |
Jul 31, 2015 | Series C | 7 | $100M | — | — |
Nov 25, 2016 | Series D | 3 | $150M | CapitalG, General Catalyst | $9bn[29] |
Sep 27, 2018 | Series E | 5 | $245M | Tiger Global Management | $20bn[30] |
Jan 29, 2019 | Series F | 1 | $100M | Tiger Global Management | $22.5bn[31] |
Sep 19, 2019 | Series G | 3+ | $250M | Sequoia Capital, General Catalyst and Andreessen Horowitz | $35B |
Apr 16, 2020 | Series G Extension | 3+ | $600M | Sequoia Capital, General Catalyst, GV and Andreessen Horowitz | $36B[32] |
Investments
Stripe is reported to have participated in two funding rounds for Monzo, a "challenger bank" based in the U.K. Stripe's first investment in Monzo was reported on November 6, 2017,[33] with a second investment in Monzo's Series E fundraising round reported on October 10, 2018.[34] Monzo's valuation grew from approximately $350 million[33] to $1.27 billion[34] through these two rounds of fundraising. Stripe participated in a third round of funding for Monzo on June 24, 2019, which raised approximately $144 million in funding for Monzo at a valuation of approximately $2.5 billion.[35][36]
Stripe has invested in companies offering similar services as themselves, but in different geographical regions. In August 2018, Stripe invested in Paystack, a Nigerian payment processor,[37] and, in September 2019, invested in PayMongo, a Philippine payment processor.[38]
On June 6, 2019, Stripe led a $22.5 million fundraising round for Step, a financial services startup offering fee-free money management (banking) accounts to teenagers.[39]
On March 26th, 2020, Stripe led a $20m Series A fundraising round for Fast, a company creating a universal, one-click checkout service.[40]
See also
References
- "Stripe: About page". stripe.com.
- "Inside Stripe, The PayPal Competitor Backed By PayPal Founders Peter Thiel, Elon Musk".
- "The Collison Brothers and Story Behind The Founding Of Stripe". Startup Grind. February 9, 2012. Archived from the original on April 7, 2014. Retrieved April 2, 2014.
- Brockman, Greg (April 2, 2014). "How Did Stripe Come Up With Its Name?". Forbes. Retrieved April 2, 2014.
- Li, Roland (2019-10-24). "2nd most valuable U.S. startup to leave SF as city loses another headquarters". San Francisco Chronicle. Retrieved 2020-03-17.
- Rao, Leena. "Payments Company Stripe Makes First Acquisition, Buys Team Task Management And Collaboration App Kickoff". TechCrunch. Retrieved 16 January 2014.
- Carr, Austin (February 1, 2012). "Inside Stripe, The Paypal Competitor Backed By Paypal Founders Peter Thiel, Elon Musk". FastCompany. Retrieved April 2, 2014.
- Lunden, Ingrid. "Stripe debuts Radar anti-fraud AI tools for big businesses, says it has halted $4B in fraud to date". techcrunch.com. Retrieved 2018-04-18.
- "Stripe launches a new billing tool to tap demand from online businesses". techcrunch.com. Retrieved 2018-04-26.
- "Improving Connect to enable more platforms". stripe.com. Retrieved 2020-06-24.
- "Stripe Expands Startup Tools With Atlas, For Foreign Companies To Incorporate In Delaware". TechCrunch. Retrieved 2018-05-01.
- "Stripe's startup toolkit Atlas opens for business in Cuba". TechCrunch. Retrieved 2018-05-01.
- "Stripe Opens Up Atlas for U.S. Startups". Bank Innovation. 2017-04-06. Retrieved 2018-05-01.
- "Atlas Overview | Stripe Atlas". stripe.com. Retrieved 2019-03-27.
- https://stripe.com/blog/atlas-llc
- Verhage, Julie; Huet, Ellen (26 July 2018). "Stripe Starts Issuing Credit Cards". Bloomberg News. Retrieved 28 July 2018.
- "Stripe Terminal". stripe.com. Retrieved 2018-11-20.
- "Stripe Terminal Readers". Retrieved 2019-10-18.
- "Stripe Makes Terminal Available Across The US". PYMNTS.com. 2019-06-11. Retrieved 2019-06-14.
- "Stripe Terminal is now generally available in the US". stripe.com. Retrieved 2019-06-14.
- "Stripe launches Stripe Capital to make instant loan offers to customers on its platform". TechCrunch. Retrieved 2020-06-25.
- Arrington, Michael (March 28, 2011). "Stealth Payment Startup Stripe Backed By PayPal Founders". TechCrunch. Retrieved February 14, 2014.
- "Stripe: instant payment processing for developers". Hacker News. 29 September 2011. Retrieved 14 February 2014.
- "Stripe expands to 5 new markets". Ecommerce News Europe. Retrieved 2020-05-28.
- "Stripe Press resources".
- Mitroff, Sarah (9 February 2012). "Stripe attracts $18M in funding at $100M valuation". VentureBeat. Retrieved 14 February 2014.
- Warnimont, Joe (4 April 2018). "Stripe Review: Payment Processor with Advanced Development and Clear Pricing". Ecommerce Platforms. Retrieved 4 May 2018.
- Tsotsis, Alexia (9 July 2012). "Sexy Payments Startup Stripe Swipes $20M From General Catalyst, Sequoia, Thiel And More". TechCrunch. Retrieved 14 February 2014.
- "Stripe expands its Atlas startup kit to let founders form LLCs". TechCrunch. Retrieved 2018-05-01.
- Vance, Ashlee (September 26, 2018). "Payment Startup Stripe Is Now a $20 Billion Company". www.bloomberg.com. Retrieved 2018-09-27.
- Rooney, Ryan Browne,Kate (2019-01-30). "Stripe rides the online payments boom to a $22.5 billion valuation". CNBC. Retrieved 2019-08-06.
- Lunden, Ingrid. "Stripe raises $600M at $36B valuation in Series G extension, says it has $2B on its balance sheet". TechCrunch. Retrieved 16 April 2020.
- "Challenger bank Monzo raises another £71M from Goodwater Capital, Stripe and Michael Moritz". TechCrunch. Retrieved 2019-06-14.
- "Monzo, the UK challenger bank, raises £85M Series E at a £1B pre-money valuation". TechCrunch. Retrieved 2019-06-14.
- Cook, James (2019-06-25). "Monzo's valuation hits £2bn as the digital bank raises £113m in fresh funding". The Telegraph. ISSN 0307-1235. Retrieved 2019-07-16.
- "Monzo, the UK challenger bank, raises £113M Series F led by YC's Continuity fund at a £2B post-money valuation". TechCrunch. Retrieved 2019-07-16.
- "Paystack, with ambitions to become the Stripe of Africa, raises $8M from Visa, Tencent… and Stripe itself". TechCrunch. Retrieved 2019-06-14.
- "Manila-based payments processing startup PayMongo raises $2.7 million in seed funding". TechCrunch. Retrieved 2019-09-26.
- "Step raises $22.5 million to help teens manage their money". VentureBeat. 2019-06-06. Retrieved 2019-06-14.
- "Stripe leads $20M Series A into Fast, which is building a universal checkout service for e-commerce". TechCrunch. Retrieved 2020-04-16.
External links
- Official website
- How I Built This—Stripe: Patrick and John Collison (audio interview)