Stripe Seeks to Raise $2 Billion with “No Comment”
Stripe, the American technology company that powers digital payments and user experiences for businesses, has remained tight-lipped when asked for comment about a recent report that it is seeking to raise a new round of funding of up to $2 billion.
The company, which was founded in 2010, has responded with a terse “no comment” when asked to respond to the report. Stripe has seen tremendous success in the past decade, and its valuation has grown to over $36 billion.
What the Report Says
According to the report, Stripe is looking to raise upwards of $2 billion in a new funding round. The company has tapped Goldman Sachs to coordinate the funding round. The report indicates that the company is likely to receive significant investment and possibly extend its current valuation.
What This Could Mean for Stripe
The additional capital could hold many benefits for Stripe, including:
- Accelerating Growth – Stripe could use the additional capital to accelerate its growth and capture new markets
- Invest in New Technologies – The company could use the funding to invest in new technologies such as AI, machine learning, and blockchain
- Expand International Reach – Stripe could use the funding to expand its international reach and become a global provider of payment solutions
While the company has yet to comment on the report, the potential benefits of the new funding round are clear. It could be a major boost to Stripe’s growth and presence on the international stage. Fintech giant Stripe has responded to reports that it is looking to raise $2 billion in new funding with a terse “no comment”, sources told The Daily Crunch today.
This follows reports from Techcrunch that the company was in talks with existing investors and exploring other funding options.
Stripe settled into 2019 as one of Silicon Valley’s most valuable companies, with a valuation of $23.8 billion. It has raised $1.3 billion to date, including a $245 million round in April. It is unknown what specific goals the company is looking to pursue with a new round of funding.
As one of the leading companies in the digital payments industry, Stripe’s services have grown to encompass other parts of the online retail industry, such as fraud detection, tax payments and e-commerce. Their product has extended to businesses in over 40 countries, including China and India.
It will be interesting to follow Stripe’s development as the company looks to expand its operations. While the company’s silence on the matter suggests that no official deal has been announced, speculation in the industry suggests that Stripe may soon be handing out a significant sum of new capital.
It remains to be seen when and to what purpose this new capital will be put to use, but if the company continues to remain on the cutting edge in the digital payments and e-commerce space, we could be in for a major update soon.