Venture capital-backed payments startup Stripe has scored a spectacular valuation of more than $22.5bn through its latest investment round.
Tiger Global has invested $100m in the US payments infra business, which has previously picked up capital from Sequoia Capital as well as PayPal co-founders Elon Musk and Peter Thiel.
The deal makes Stipe easily the most valuable privately-held FinTech business in the world, with crytocurrency exchange Coinbase holding second place at about $8bn.
Stripe’s latest investment capital comes about four months after Tiger joined DST Global and Sequoia for a $245m Series E round for the business, which valued it at about $20bn.
Stripe co-founder and CEO Patrick Collison said, “We’re building Stripe for the long-term.
“We’re lucky to do so alongside a roster of detail-oriented directors who believe that infrastructure revolutions can compound for decades, and that operational excellence can be a durable competitive advantage.”
Stripe’s competitors include Square, which was founded by Twitter CEO Jack Dorsey, and the Netherlands-based Adyen.
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