Stripe tech startup is valued at $ 35 billion in the latest funding round

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(Reuters) – Thursday, Stripe Inc said it is raising $ 250 million in its latest funding round, which gives a value for the startup payments at $ 35 billion, a significant 56% increase from a previous valuation at the start of the year.

The latest Stripe valuation in the same series adds to the giant rental giant Airbnb Inc, who said the planning was going on in public in 2020.

Sequoia Capital, Andreessen Horowitz and General Catalyst were part of the investors in the latest funding, Stripe said in a statement.

The San Francisco based company was valued at $ 22.5 billion in a funding round in January, according to the data provider PitchBook.

Stripe, whose company products are easier to accept with online payments and bill customers, said that they would use the money to expand their product range as well as looking abroad.

Five of six new internet users are coming online from areas outside North America and Western Europe, the company said.

Earlier this month, the company launched its capital venture Stripe Capital and last week he put in place a corporate credit card.

Stripe processes billions of dollars a year for millions of businesses around the world, including Wayfair, Airbnb, Twilio's high-tech company, and the RealReal online luxury reseller, the company said.

Reporting by Bharath Manjesh in Bengaluru; Edited by Arun Koyyur

Our Standards:The principles of Thomson Reuters Trust.

. (t) California (t) United States Private Equity Funds (t)

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