Bitcoin and cryptocurrency users are all too familiar with the name Stripe, as this company has been focusing on digital payments for quite some time now. News broke earlier today of how Stripe raised US$150m in Series D funding. This values the company at over US$9bn, which is quite a staggering amount.
Another Successful Round of Funding For Stripe
In this day and age of digital payments, any enterprise focusing their efforts on this sector is destined to attract a lot of attention from investors. For Stripe, that interest has been quite spectacular, as the company has gone through multiple successful rounds of funding so far. Moreover, the valuation of the company continues to increase and now sits at over US$9bn.
Their latest round of Series D funding raised a staggering US$150m and was backed by major partners. Alphabet, through its CapitalG unit, and General Catalyst Partners were leading the round. Existing investors, such as Sequoia Capital, added another pledge to Stripe, as they continually invest in this company.
Keeping in mind how Stripe was valued at just over US$5bn during their previous seed funding round, it is evident that something has changed for the company. In fact, their market presence only seems to get stronger, and a lot of banks are extending credit lines to the company as well. One could argue that everyone in the financial sector is keeping a close eye on what Stripe is doing right now.
Speaking of these credit lines, institutions such as Goldman Sachs, Morgan Stanley, and Barclays, among others, extended a line of credit to Stripe as a result of their Series D funding. This is quite a significant development for the company and another validation of how digital payments are indeed the future of finance.
As far as the new funds go, they will be used mainly to make acquisitions (additional staff, locations, and potentially smaller companies) as well as step up Stripe’s international expansion. In the world of digital payments, no region should be left behind. Moreover, the company has tried to focus on global payment solutions to accommodate customer and client needs.
Whether or not this news will be beneficial to Bitcoin usage through the Stripe platform remains to be seen. The company allows merchants to accept Bitcoin payments right away, and cryptocurrency is the only global payment solution in existence today. It would be in the company’s best interests not to overlook this option, as global demand for cryptocurrency is surging.
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