Payments platform Stripe has filed a Reg D 506b with the Securities and Exchange Commission. The filing indicated the company has issued stock in the amount of $38.6 million during the first week of March. According to the document, 36 investors participated in the equity offering. The document also indicated the issuance was being made in connection with a business combination transaction, such as a merger, acquisition or exchange offer.
Just last week, it was announced that Stripe has acquired Index, a startup founded in 2012. The San Francisco-based company builds software for in-store terminals and point-of-sale systems. Index has received backing from former Google exec Eric Schmidt. Index reportedly raised $26 million in early stage funding. While no terms were disclosed regarding the acquisition of Index the timing appears to fit.
Stripe is the most prominent payments platform utilized on the internet today. Its valuation stands at over $9 billion dollars having jumped into Fintech unicorn status. Stripe has previously received approximately $450 million in funding from Sequoia Capital, Visa, American Express, Peter Thiel, and Elon Musk.
Update: A Stripe representative clarified that no money was raised and the stock was issued as part of a recent acquisition.