Latest News

Stripe ‘in talks’ over $3 billion funding raise

By Alexandra Leonards

Stripe is reportedly in talks with existing investors about a new funding raise worth billions.

According to US tech publication The Information, the payments business–which recently told employees it was considering a public offering over the coming 12-months–is “moving quickly” on a deal to raise up to $3 billion.

The move would value the company at $55 billion to $60 billion, said the report. The valuation would represent a $35 billion to $40 billion decline after the business was valued at $95 billion following a $600 million funding round in 2021.

The news comes several months after Stripe announced it would cut more than 1,000 staff from its workforce.

Stripe boss Patrick Collison sent a note to employees notifying them of its plans to axe around 14 per cent of its team.

The chief executive blamed the move on “stubborn inflation”, energy price increases, higher interest rates, reduced investment budgets and “sparser start-up funding”.

Following this, Stripe announced it was expanding its existing partnership with Amazon to improve the tech giant's online payment infrastructure.

The new global agreement will see Amazon “significantly” expand its use of Stripe’s core payments platform to handle payments volume across its businesses including Prime, Audible, and Amazon Pay in the US, Europe, and Canada.

    Share Story:

Recent Stories

UK government sets out regulation plans for crypto

Stripe ‘in talks’ over $3 billion funding raise

PayPal to cut 7% of workforce


The human firewall: Activating employees to safeguard financial data
As financial services increasingly embrace SaaS and cloud-based technologies, they face emerging threats to safeguard sensitive customer data. While comprehensive IT security measures are essential, the active involvement of employees across organisations is pivotal in ensuring the protection of sensitive data.

BANNER

BANNER

Building a secure financial future for instant payments: The convergence of ISO 20022 and fraud detection
The financial landscape is rapidly evolving its approach to real-time transactions under the ISO 20022 standard, and financial institutions must take note. With examples such as the accelerated adoption of SEPA Instant Credit Transfers in Europe and proposed New Payment Architecture (NPA) programme in the UK, the need for swift and effective fraud detection is more crucial than ever.

Data Streaming and Consumer Duty: Transforming customer experience in banking
Introduced at the end of July, the Consumer Duty is a game-changing new set of rules and guidance for financial services institutions in the UK, and companies must look to modernise their systems in adherence with it in mind to create the best customer experience possible.

From insight to action: Empowering financial institutions through advanced technology and collaborative information sharing
The use of Information sharing in enhancing financial crime prevention has been universally agreed as being beneficial. However no-one has been able to agree on how information can be shared safely without breaching data protection laws or having the right systems to facilitate this, Information sharing has re-emerged as a major consideration for financial institutions (FIs) ahead of the Economic Crime and Corporate Transparency Bill being made into law in the UK.

© 2019 Perspective Publishing     Privacy & Cookies