Payment processor Stripe raises $600M in funding round for global expansion

LatamList – Stripe, a global payments infrastructure, raised a $600M funding round from Allianz X, Axa, Baillie Gifford, Fidelity Management & Research Company, Sequoia Capital, and Ireland’s National Treasury Management Agency (NTMA).

Stripe builds programmable economic infrastructure for global money movement. The company also provides other financial services such as Billing, Capital, and Connect, among others.

The company arrived in Mexico in August 2019 with its first office in Latin America. Stripe has opened up Mexico’s e-commerce market to global buyers and now the country receives payments in more than 135 currencies.

“We’re investing in the infrastructure that will power the internet commerce in 2030 and beyond. The pandemic taught us things about society, including how much can be achieved – and paid for – online, but the internet still isn’t the engine for global economic progress that it could be,” said Dhivya Suryadevara, Chief Financial Officer for Stripe.

The funding will enable Stripe to continue to build its Global Payments and Treasury Network, with launches in new countries including Brazil. Stripe aims to grow the GDP of the Internet and facilitate e-commerce and online payments across the world.