Stripe To Receive Funding From American Express, Visa and Sequoia Capital

Stripe To Receive Funding From American Express, Visa and Sequoia Capital
28.07.2015 01:00 am

Stripe To Receive Funding From American Express, Visa and Sequoia Capital

Payments

Hot payments startup Stripe has landed a new round of funding from investors including American Express, Visa and Sequoia Capital, valuing the San Francisco-based company at $5 billion.

Eye watering valuations aside, the most interesting aspect of the deal is the recruitment of Visa to the Stripe fanbase. The startup says it has signed an agreement with the card scheme to work on digital transactions like website 'buy buttons' and payments security. 

Stripe last month released code for e-commerce merchants to add American Express 'buy button' signage to the checkout - a move which enables the card scheme to compete on a more even footing with PayPal.

With Visa onboard, Stripe will not only gain access to a much larger merchant base, it will also be able to grow its business internationally, expanding beyond the 25 countries currently serviced by the company.

The value of the funding was not confirmed, but speculation suggests it is near the $100 million mark.

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