Stripe schmoozes developers by chugging down Tonic

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fintech insurtech wealthtech regtech ai cybertech esg news

Payments provider Stripe is broadening its appeal to developers with the acquisition of node prototyping service Tonic.

Financial terms of the deal were undisclosed. Tonic is rebranding to Runkit, which will reportedly operate as an independent entity following the buyout.

Stripe offers a set of APIs and tools that enable businesses to accept payments, and places an emphasis on serving developers.

It already has a range of developer tools such as Atlas, but believes adding RunKit to its service will allow developers to create prototypes more-easily.

RunKit is Stripe’s third acquisition to date, with it previously scooping up task-management app Kickoff and Instagram marketing suite Totems.

Having raised almost $300m in funding from high-profile investors including PayPal founders Elon Musk and Peter Thiel, as well as heavyweight VCs Kleiner Perkins and Andreessen Horowitz, Stripe is now valued at $5bn.

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