San Francisco-Based Stripe Secures $245 million to Fuel Growth
US fintech startup Stripe has reportedly raised funds amounting to $245 million in a financing round. The funding round has valued the company at $20.25 billion, a dramatic surge from its most recent $9.2 billion valuation in 2016.
The funding round was led by billionaire investor Chase Coleman's hedge fund Tiger Global Management, and also saw participation from DST Global and Sequoia.
The funds raised through this round are being planned to be used to fuel growth in key overseas markets such as Southeast Asia and India, where it plans to tap into the growth of the e-commerce industry to expand its payments products.
The company also claimed that more than 500 million people in Southeast Asia and India are expected to become online customers in the next three years. Along with th...