Stripe is now valued at $35 billion after a $250 million funding round led by General Catalyst, Sequoia and Andreessen Horowitz.

The new valuation is up by $12.5 billion on its last funding round in January.

Founded in 2010 by Irish brothers Patrick and John Collison, the Silicon Valley-based FinTech has focused on making it easy for online sellers - from one-man-bands to Google - to accept card payments.

It has recently been building up a wider product suite, launching a corporate credit card and a lending service earlier this month.

The fresh investment will be used to continue this product diversification, as well as to extend its enterprise capabilities and accelerate international expansion.

Stripe recently launched in eight new countries and stated that it will arrive in more in the next few months, aiming for access to 70 per cent of the global economy.

“Even now, in 2019, less than eight per cent of commerce happens online,” said co-founder John Collison. “We’re investing now to build the infrastructure that’ll power internet commerce in 2030 and beyond - if we get it right, we can help the internet fulfill its potential as an engine for global economic progress."

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