Online payments vendor Stripe on Monday (Dec. 1) is seeing its valuation double in less than a year, to $3.5 billion, after it closed a $70 million fundraising round, according to a story in The Financial Times.
Stripe has been partnering with some of the world’s hottest payments players, including being one of the few launch partners for Apple Pay, as well as working with Facebook, Twitter and Alipay.
Stripe Co-Founder Patrick Collison said these deals are illustrating the potential of the Stripe concept. “People were previously being kind of unambitious about what was possible, and now through things like the buy buttons on Twitter and Facebook or enabling Alipay, I think people are starting to see what might be possible,” Collison said, the story noted.
Investors in the round include Sequoia Capital, General Catalyst, Founders Fund, and Khosla Ventures, as well as Thrive Capital.