San Francisco payments startup stripe has apparently gotten more funding.
The funding round raised $18 million, according to the people, who asked not to be named because the deal isn’t public. Menlo Park, California-based Sequoia, which also invested in Stripe’s previous funding, contributed $17 million to the round.
This puts the company valuation at $100m, which is an astonishing number given the age and size of the company. However, it’s one of those rare start-ups where I reckon a lot of people can look at the pitch and think “I would absolutely use this”.
The point of it is to cut out the banks in transactions and allow anyone to take mobile payments in an easy way. This means it’s more flexible for developers, designers, small retailers, coffee stand companies and so on. I have felt the personal wrath of dealing with merchant bank accounts, so cutting that bit out would be phenomenal.
It’s nice to see Irish people doing so well in the current technology era, but it says a lot that they did so well by leaving for America. I would do the same. Although it is difficult to be happy for people from Limerick (I jest…!).