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: