San Francisco-based payment software giant Stripe announced Monday that it raised $600 million in a Series H round that included participation from Fidelity Management and Sequoia Capital.
The latest round matches the company’s Series G, announced less than 12 months ago, and places the decacorn’s valuation at an astounding $95 billion. The company’s updated financial numbers make it the most valuable startup in the United States, according to CNN Business.
The fintech company’s new valuation places it higher than other tech giants like Instacart and SpaceX, valued at $39 billion and $74 billion, respectively.
Founded in 2010, Stripe helps enterprise clients manage their finances, payments and billing processes.
The company will use the capital to invest in expanding its European operations, particularly its Dublin headquarters. This is a worthy move considering the fact that 31 of the 42 countries that Stripe serves are in Europe.
“Whether in fintech, mobility, retail or SaaS, the growth opportunity for the European digital economy is immense,” John Collison, president and co-founder of Stripe, said in a statement.
In addition to its European expansion plans, the company will extend its services to Brazil, India, Indonesia, Thailand and the United Arab Emirates.
The company will expedite hiring processes for its global team as it continues to scale. Over 200 open tech positions are currently up for grabs at Stripe’s San Francisco headquarters.
Hundreds of remote roles are on the table as well. The company plans to hire for its engineering, sales, marketing, data science and finance teams, just to name a few.
“The pandemic taught us many things about society, including how much can be achieved and paid for online, but the internet still isn’t the engine for global economic progress that it could be.” Stripe CFO Dhivya Suryadevara said in a statement. “We’re investing in the infrastructure that will power internet commerce in 2030 and beyond.”
