Stripe, the San Francisco-based payments technology provider, has raised a new round of financing, valuing the startup at $35 billion, according to a report by The Wall Street Journal. The firm was last valued at $22.5 billion.
Investors including Sequoia Capital, General Catalyst, and Andreessen Horowitz participated in the new $250 million round. “Stripe is more than ever a bet on the internet as an economic engine,” Will Gaybrick, Stripe’s chief product officer, told The Wall Street Journal.
Stripe's primary product is an API that businesses can integrate into their website to accept online payments. The startup was founded in 2009 by brothers Patrick Collison and John Collison. The startup recently announced two new product launches: Stripe Capital, an online service for businesses, and Stripe Card, a corporate credit card.