Online Payment Startup Stripe Boosts Valuation to $22.5 Billion

San Francisco-based online payment startup Stripe just upped its valuation to a staggering $22.5 billion after netting $100 million in funding from Tiger Global Management, according to a recent CNBC article. The news was first reported by the Information.

Stripe’s platform integrates electronic payments and secure transactions, attracting investments from the likes of Peter Thiel and Elon Musk, among others, the article says. The recent round of funding for Stripe follows a $245 million Series E investment in the fall of 2018, when the company’s valuation hit $20 billion. Stripe is “by far” the most valuable private financial technology company out there thanks to consumers’ increasing preference for online payments, the article says, citing CB Insights.

“Stripe is rapidly scaling internationally, as well as extending our platform into issuing, global fraud prevention, and physical stores with Stripe Terminal,” a Stripe spokesperson told CNBC in an emailed statement. “The follow-on funding gives us more leverage in these strategic areas.”