{"id":4857,"date":"2020-04-22T17:51:38","date_gmt":"2020-04-22T17:51:38","guid":{"rendered":"https:\/\/www.paymentfacilitator.com\/?p=4857"},"modified":"2021-06-15T17:33:20","modified_gmt":"2021-06-15T17:33:20","slug":"stripe-raises-fresh-600-million-continues-to-invest-in-growth-during-covid-19-crisis","status":"publish","type":"post","link":"http:\/\/infinicept.com\/payment-facilitator\/archive\/stripe-raises-fresh-600-million-continues-to-invest-in-growth-during-covid-19-crisis\/","title":{"rendered":"Stripe Raises Fresh $600 Million, Continues to Invest in Growth During COVID-19 Crisis"},"content":{"rendered":"\n<p><strong>Bucking the recent trend of declining funding levels,\nleading payment facilitator Stripe announced that it had raised an additional\n$600 million as an extension of its September Series G round. <\/strong><\/p>\n\n\n\n<p>In a <a href=\"https:\/\/stripe.com\/newsroom\/news\/stripe-extends-series-g-funding-round\">press\nrelease<\/a>, the company described itself as \u201cproviding an on-ramp to the\ndigital economy for businesses around the world.\u201d This function has become more\ncritical as small businesses have turned to online sales to survive during the\nCOVID-19 crisis. <\/p>\n\n\n\n<p>\u201cPeople who never dreamt of using the internet to see the\ndoctor or buy groceries are now doing so out of necessity. And businesses that\ndeferred moving online or had no reason to operate online have made the leap\npractically overnight,\u201d said John Collison, President and Co-founder of Stripe.\n<\/p>\n\n\n\n<p>\u201cWe believe now is not the time to pull back, but to invest\neven more heavily in Stripe\u2019s platform.\u201d <\/p>\n\n\n\n<p>Stripe plans to use its latest funds to support \u201cproduct\ndevelopment, global expansion and strategic initiatives,\u201d the company said.<\/p>\n\n\n\n<p>And during a time when businesses are struggling to stay\nafloat, Stripe emphasized its strength.<\/p>\n\n\n\n<p>\u201cWith more than $2 billion on its balance sheet, a\ncapital-efficient business model, and a highly-diversified, growing, global\nuser base, Stripe is in a position to both provide uninterrupted service to its\nusers in a time of stress and invest in long-term improvements,\u201d it said in its\nannouncement.<\/p>\n\n\n\n<p>Stripe <a href=\"https:\/\/www.cnbc.com\/2020\/04\/16\/stripe-raises-600-million-funding-round-at-36-billion-valuation.html\">told\nCNBC<\/a> that the new round increases its valuation to $36 billion. The outlet\ndescribed Stripe as \u201cby far\u201d the most valuable private company in the fintech\nsector. <\/p>\n\n\n\n<p>While some of its customers are certainly seeing decreased\ntransaction volumes, the company has benefitted from the shift many businesses\nhave made online as well as increases in demand for its customers like the\nubiquitous video conferencing company Zoom and food delivery companies like\nDoorDash and Instacart.<\/p>\n\n\n\n<p>&#8220;Stripe has been a huge beneficiary in the shift to\nonline commerce, which represented around 10% of total commerce before the\ncrisis,&#8221; tech analyst Robert Le told <a href=\"https:\/\/pitchbook.com\/news\/articles\/stripe-pockets-600m-as-business-and-consumer-confidence-plummets\">PitchBook<\/a>.<\/p>\n\n\n\n<p>Stripe raised its latest funds from existing investors\nincluding Andreessen Horowitz, General Catalyst, GV, and Sequoia.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bucking the recent trend of declining funding levels, leading payment facilitator Stripe announced that it had raised an additional $600 million as an extension of its September Series G round. <\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","footnotes":""},"categories":[1015],"tags":[129,333,420,643,846],"class_list":["post-4857","post","type-post","status-publish","format-standard","hentry","category-archive","tag-capital","tag-fundraise","tag-investment","tag-payment-facilitator","tag-stripe"],"acf":[],"_links":{"self":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts\/4857","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/comments?post=4857"}],"version-history":[{"count":1,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts\/4857\/revisions"}],"predecessor-version":[{"id":6958,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts\/4857\/revisions\/6958"}],"wp:attachment":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/media?parent=4857"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/categories?post=4857"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/tags?post=4857"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}