Payments processor Stripe has announced that it has signed agreements to raise more than $6.5B at a valuation of $50B.
On Wednesday, Stripe said, “The funds raised will be used to provide liquidity to current and former employees and address employee withholding tax obligations related to equity awards, resulting in the retirement of Stripe shares that will offset the issuance of new shares to Series I investors. Stripe does not need this capital to run its business.”
The company has announced that the primary investors include existing Stripe shareholders—Andreessen Horowitz, Baillie Gifford, Founders Fund, General Catalyst, MSD Partners, and Thrive Capital—and new investors including GIC, Goldman Sachs Asset and Wealth Management, and Temasek.
In Nov. 2022, Stripe laid off more than 1,000 employees, citing macroeconomic factors such as inflation, rising energy prices and high interest rates.
In Dec. 2022, Stripe announced the launch of a project to facilitate fiat-cryptocurrency payments for companies in many countries. This project allows customers to instantly purchase cryptocurrencies on Web3 applications. 11 of the company’s first 16 projects were built on the Solana blockchain.
