Stripe Now Valued At $95B: Could SPAC Deal Or IPO Be Years Away?

Stripe, a fintech company with headquarters in Ireland and North America, has announced a new funding round of $600 million.

What Happened: Investors in the funding round including Allianz, Axa, Baillie Gifford, Fidelity, Squoia and the National Treasury Management Agency of Ireland.

The funding round values Stripe at $95 billion.

The capital raised will be used by Stripe to invest mainly in Europe, where the company said it's seeing surging demand for its enterprise business.

See also: How to Invest in SPACs 

The company counts Jaguar Land Rover, Maersk, Metro, Deliveroo and Klarna among its partners. Over 50 category leaders that process $1 billion in annual payments are Stripe customers.

The enterprise business line is now the largest and fastest-growing component for Stripe, with revenue more than doubling year-over-year, according to the company.

Stripe has business operations in 42 countries, including 31 European countries.

“We’re investing a ton more in Europe this year, particularly in Ireland, Stripe co-founder John Collison said in a statement. “Whether in fintech, mobility, retail or SaaS, the growth opportunity for the European digital economy is immense.”

Related Link: Pershing Square SPAC Discloses Bill Ackman’s Tweets, Could A Deal Announcement Be Coming?

Why It’s Important: Stripe has been a long-rumored IPO candidate given its huge valuation.

The company has also been the subject of rumors tied to Bill Ackman’s Pershing Square Tontine Holdings PSTH SPAC.

With the large amount raised and the new valuation, it seems unlikely that Stripe will go public in the near future.

Given the $95-billion valuation, a SPAC deal would own a small percentage of the company and seems unlikely at this time.

PSTH Price Action: Shares of Pershing Square Tontine Holdings are down 3.61% to $27.38 at last check on Monday.

Photo courtesy of Stripe. 

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: FintechNewsFinancingBill AckmanSPACSPACsStripe
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!
fintech-banner
Fintech Focus Newsletter

Your update on what’s going on in the Fintech space. Keep up-to-date with news, valuations, mergers, funding, and events. Sign up today!