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PYMNTS Daily Data Dive: Stripe’s Ecosystem

FinTech and Brecit

The payments startup Stripe has been creating a lot of buzz this week after its founders John and Patrick Collison were interviewed on CBS’ “60 Minutes.”

While there was plenty to pick apart on what CBS’ report missed (which PYMNTS did here), we decided to use today’s Daily Data Dive to give you five quick facts about Stripe.

As explained in the interview, Stripe was born out of the frustration the Collison brothers faced trying to accept payments for their coding work back in school: tons of paperwork and lots of time lost waiting for the bank to approve them.

Of course, there were a lot more details that “60 Minutes” missed about Stripe’s roll in the FinTech world (see above link for more), but for those looking for the skinny on Stripe, here’s today’s 5-in-1:

$5 Billion | Stripe’s latest valuation, publicly provided after a $100M Series C-2 funding round was closed in the summer of 2015.

2010 | The year John and Patrick Collison founded Stripe, which was originally created as a startup called /dev/payments but was changed to a less confusing name.

2011 | The year Stripe launched to the public (September 2011) after it ran its private beta. Soon after, in May 2012, it closed a $20M Series B funding round.

410 | Number of employees Stripe had working for the mobile payments startup as of March 2016.

25 | The number of countries Stripe works with businesses in, which includes 10 global offices.

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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