Stripe in Talks to Raise Up to $3 Billion From Thrive Capital

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Stripe is moving quickly on a deal to raise up to $3 billion from its existing investors, less than a week after telling employees that it would evaluate a public offering over the next year.

According to reports, Thrive Capital has committed $1 billion in new capital to payments giant Stripe as part of a new investment that would value the fintech company between $55 billion and $60 billion.

Stripe’s new investment is thought to be led by Thrive Capital. Joshua Kushner’s New York-based firm also led the company’s $70 million Series C in 2014, when it was valued at $3.5 billion.

Stripe would go on to raise $600 million at a $95 billion valuation by 2021, the highest-ever valuation for a private company. Stripe, however, has not been immune to the global downturn: in November, it laid off 14% of its workforce, or approximately 1,120 people. In addition, the company has reduced its internal valuation several times in the last year. Stripe’s internal valuation was reduced to $63 billion earlier this month, according to TechCrunch. This 11% reduction followed an earlier internal valuation cut that valued the company at $74 billion.

According to The Information, In 2022, Stripe’s gross revenues totaled $14.2 billion.

Stripe was founded in 2010 by Irish brothers John and Patrick Collison (the CEO), and has raised over $2.2 billion in funding from investors including Allianz, Axa, Baillie Gifford, Fidelity Management & Research Company, Sequoia Capital, General Catalyst, Base Partners, GV, and an investor from the founders’ home country, Ireland’s National Treasury Management Agency (NTMA).

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