Majority-owned global FinTech company Stripe has secured more than $6.5 billion in fresh capital at a value of $50 billion, or about half of its US $95 billion in 2021.
With the fresh fundraise, it welcomed new investors including GIC, Temasek, and Goldman Sachs Asset & Wealth Management. Previous funders including General Catalyst, Founders Fund, and Andreessen Horowitz also contributed to the round.
The news comes after rumours that Stripe may file for an IPO as early as January of the following year.
The FinTech giant increased its valuation to US $95 billion in March 2021 by raising US $600 million in a series H transaction. The company’s internal value, according to The Wall Street Journal, was cut by 28% to US $74 billion in July of last year, according to the publication.
Payments company Stripe was established in the US in 2010. Since then, it has developed into a company that manages $1 billion in transactions annually for clients like Amazon, Ford, and Salesforce.
The extra capital will be used by the firm to “give liquidity to present and past workers” as well as to pay tax liabilities related to stock awards. “Stripe does not need this capital to run its business,” the firm clarified.
