Stripe, which provides a super-fast payment system to companies, has reached a valuation of 20 billion dollars with the new investment of 245 million dollars in the new investment tour led by Tiger Global. With the last investment tour that was completed 2 years ago, we can say that this is a big leap for a company that has reached a valuation of $ 9 billion.
In addition to new investors such as DST Global and Sequoia, current investors Andreessen Horowitz, Kleiner Perkins, Khosla Ventures, General Catalyst and Thrive Capital took part in this investment tour led by Tiger Global Management.
The company has announced that it is planning to spend this new investment on the engineers they will hire in order to establish a new model called “distributed global engineering team”. Currently, Stripe, with offices in San Francisco, Seattle and Dublin, plans to establish a new center in Singapore.
The engineering team has been positioned as the heart of the company since the day Stripe was founded. The fact that 3200 deployments were made in the Stripe API last year is an indication of how important engineering is for Stripe.
”We have no IPO plan” John Collison said in an interview. “The Stripe business model is very big and we believe that in the years to come, we can offer a much smarter share structure. Strong businesses are not always dependent on external financing.”
Stripe, serving in 130 different areas in 25 countries, has thousands of customers, including Google, Didi, Mindbody, Spotify and Uber, and millions of indirect users. For this reason, they rank high in the ranking of companies that investors want to invest their money in.
Stripe, that gives companies the opportunity to have a payment system by adding a few lines of code, gives them the chance not to work with the banks. It seems that its value will continue to increase day by day because it precludes a laborious and costly action.
Globally, we see e-commerce technologies developing rapidly, but we can still call it a relatively small market compared to traditional methods. This means that companies like Stripe are on their way to greater opportunities. “We believe in the possibility of progress” says Patrick Collison, CEO and co-founder of Stripe.