Countries use Stripe start, run, and scale their businesses
Stripe has 40 companies processing $1 billion in payments annually
Stripe is an online-based, payment processing platform that gives online merchants the ability to securely accept credit card payments through the use of custom-built forms. Stripe has signed a new partnership with Salesforce that the company hopes will buff its credentials with big-business customers amid speculation that the $36 billion-valued payments company is approaching an IPO.
This year, Stripe has been riding a tailwind of demand for payments services as more businesses have been forced online and major companies have increasingly pursued sales in the cloud. Stripe now has 40 companies processing $1 billion in payments over its platform annually.
The move to
e-commerce in recent years has made Stripe the most valuable private fintech company in the U.S.
Like PayPal (NASDAQ:PYPL), Stripe charges a swipe fee of 2.9% plus 30 cents per transaction. It’s a volume business. Naturally, as Square has done, Stripe created Stripe Capital last September, so that it could lend money to its small business customers. The loans get repaid through a percentage of the small business’ daily sales.
Stripe offers four services: payments, payout, financial services, and business operations.
SALES & MARKETING
It serves market from ecommerce and retail, B2B platforms, and non-profits & fundraising. Some of its customers include Target, Under Armour, Glossier, Shopify, Digital Ocean, Splunk, Lyft, Doordash, Grab, instacart, and non-profits/fundraising such as Watsi, Unicef, RED, Human Rights Watch, Habitat for Humanity, and KhanAcademy.
Stripe is headquartered in San Francisco, with about 15 global offices which some are in Dublin, London, Paris, Singapore, and Tokyo, among others. Millions of companies in over 120 countries use Stripe to start, run, and scale their businesses.
Stripe and JCB have worked hand in hand to deepen the partnership, first announced in 2018, and offer industry-first features at a time when businesses need them the most: Automated onboarding on JCB, Fastest pay-out cycle in Japan, and Global JCB acceptance.
MOST VALUABLE STARTUP
When CNBC’s Disruptor 50 came out on June 16, the number one disruptor was the San Francisco-based digital payments platform, Stripe, up 12 spots from 2019. Founders Patrick and John Collison have secured $1.6 billion in funding for its global growth. That funding values the decade-old company at $36 billion.
THE LEAP TO ONLINE
"People who never dreamt of using the internet to see the doctor or buy groceries are now doing so out of necessity. And businesses that deferred moving online or had no reason to operate online have made the leap practically overnight. We believe now is not the time to pull back, but to invest even more heavily in Stripe’s platform.” - Collison said in a press release.
The company announced the addition of Zoom Video Communications to its list of customers benefiting from the shift to an online economy. It also counts DoorDash, Shopify, Instacart, Caviar and Postmates as clients.
Airbnb, the world leader in accommodations of the “sharing economy”, allows you to find places to stay directly from individuals in thousands of cities around the world.
Valued at $35 billion
Coupang is an ecommerce company, which aims to provide quick and efficient delivery of various consumer products to customers, via an intuitive and accessible mobile retail platform.
Valued at $9 billion
DoorDash is the fastest-growing third-party delivery app right now. DoorDash scores valuation of $16 billion as coronavirus pushes it to top of food-delivery chain.
Valued at $16 billion
Chime is an online-only bank that offers services on the go with no fees and the intention to disrupt and make a change in the fintech and banking industry. Chime is currently rated as the most valuable U.S. consumer fintech company.
Valued at $14.5 billion
Klarna is a banking company providing payment solutions for consumers and merchants. Direct payments, pay after delivery options and installment plans. Klarna has around 235,000 merchant partners and 85 million customers.
Valued at $10.65 billion
Stripe, the online payments company founded by Limerick-born brothers Patrick and John Collison. Stripe is Silicon Valley's most valuable start-up and raised new capital at $36 billion valuation.
Valued at $36 billion
Wish, an e-commerce platform known for selling goods from Asia at rock-bottom prices. Wish is aiming to raise roughly $1.1 billion in its upcoming initial public offering, giving it a valuation of up to $14.07 billion.
Valued at $14.07 billion