Stripe plans 1,000 jobs for Dublin following latest funding round

Payments processor becomes most valuable Silicon Valley-produced company

Trade

Patrick and John Collison, Stripe

15 March 2021

Stripe has raised €600 million in a series-h funding round that values the payments processor at $95 billion, a record for a private company produced by Silicon Valley. The primary investors include Allianz X, Axa, Baillie Gifford, Fidelity Management & Research Company, Sequoia Capital, and Ireland’s National Treasury Management Agency (NTMA).

The company will use the capital to invest in its European operations, including the creation of 1,000 jobs at its Dublin headquarters.

“We’re investing a ton more in Europe this year, particularly in Ireland,” said John Collison, president and co-founder of Stripe. “Whether in fintech, mobility, retail or SaaS, the growth opportunity for the European digital economy is immense.“

“Stripe is an accelerator of global economic growth and a leader in sustainable finance. We are convinced that, despite making great progress over the last 10 years, most of Stripe’s success is yet to come” said Conor O’Kelly, CEO of NTMA. “We’re delighted to back Ireland’s and Europe’s most prominent success story, and, in doing so, to help millions of other ambitious companies become more competitive in the global economy.”

Stripe now counts more than 50 category leaders – companies processing each more than $1 billion annually – as customers. Enterprise revenue is now both Stripe’s largest and its fastest growing segment, more than doubling year over year.

Expanding Global Payments & Treasury Network

Stripe has built programmable infrastructure for global money movement, known as its Global Payments & Treasury Network, as well as a growing roster of products and services atop that foundation, including Billing, Capital, Connect, Issuing, Radar, Terminal and Treasury.

“We’re investing in the infrastructure that will power internet commerce in 2030 and beyond,” said Dhivya Suryadevara, Stripe’s chief financial officer. “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 helping ambitious businesses grow faster.

“While Stripe already processes hundreds of billions of dollars per year for millions of businesses worldwide, the opportunity ahead is much larger for Stripe than it was when the company was started 10 years ago.”

Stripe clients include Jaguar Land Rover, Maersk, Deliveroo, Doctolib, Glofox and N26. The Global Payments & Treasury Network will also soon be available in Brazil, India, Indonesia, Thailand and the UAE.

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