Stripe Raises $600M in Extended Series G to Fuel Its Global Expansion

The new infusion of capital brings the payments unicorn’s private valuation to a reported $36 billion.

Written by Jeremy Porr
Published on Apr. 17, 2020
Stripe Raises $600M in Extended Series G to Fuel Its Global Expansion
Stripe engineers collaborate during a meeting.
Photo: Stripe

San Francisco-based payment software company Stripe announced the closure of its Series G funding round on Thursday. The company raised a total of $600 million from key investors including Andreessen Horowitz, General Catalyst, GV and Sequoia.

The company, originally launched in 2011, helps clients manage their business finances, payments and billing. Stripe specifically plans on using the additional funding to speed up support for telemedicine providers during the global pandemic.

Stripe has seen nearly $1 billion in sales for businesses that launched on its platform since the onset of COVID-19, according to the company. Its varied list of clients include Google, Salesforce, NBC, Caviar and, most recently, Zoom Video Communications.

“People who never dreamt of using the internet to see the doctor or buy groceries are now doing so out of necessity ... businesses that deferred moving online or had no reason to operate online have made the leap practically overnight,” John Collison, president and co-founder of Stripe, said in a news release.

The new funding concluded a Series G round that began with $250 million in funding announced last September and brings the unicorn’s private valuation to about $36 billion, MarketWatch reports.

The company plans on continuing to hire in positions available around the world in addition to opening additional offices in Bulgaria, Hungary, the Czech Republic, Malta and Romania.

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