San Francisco based online payment platform stripe recently struck a deal worth Ninety five billion dollars to officially make stripe the most valuable private owned company.
There seems to be no stopping the payment provider who recently acquired Paystack two hundred million dollars as they were able to raise six hundred million American dollars in new equity. This will see the company’s value double in less than a year.
This rise in the company’s value and growth can be tied t the recent rise in e-commerce activities and its very beneficial.
It is estimated that from Europe alone a staggering twenty thousand companies rely on stripe to process payment. The payment platform is believed to process payments valued at more than three hundred and three billion in a year.
The latest funding will enable stripe who has seen steady growth since its inception to execute earlier plans of expanding its services into new markets in Europe.
The company started by the Collison brothers after they sold their first company for five million dollars in 2008.
Stripe was birthed at a time when the internet and developers alike were in need of a payment solution that would provide solution to the issues faced with the PayPal platform at that time. Early investors in stripe included Elon musk.
What this new funding means and the opportunities it presents for the Africa fintech ecosystem remains to be seen.
What are your thoughts on Stripe’s new achievement? At this pace, where do you see Stripe in few year from now? Do let us know in the comment section below, we would love to hear from you.