Payments platform Stripe announced on Thursday the extension of its Series G funding round. The company reported it is raising an additional $600 million from investors, which includes Andreessen Horowitz, General Catalyst, GV, and Sequoia. Founded in 2010, Stripe describes itself as a technology company that builds “economic infrastructure” for the internet. The platform revealed:
“Stripe helps new companies get started and grow their revenues, and established businesses accelerate into new markets and launch new business models. Over the long term, Stripe aims to increase the GDP of the internet.”
Stripe further reported that the funds from the Series G round will to invest further in growing its platform, which also includes continuing to hire around the world; deepening its stack of software functionality to simplify online business; accelerating its geographic expansion (with upcoming launches in Bulgaria, Cyprus, the Czech Republic, Hungary, Malta, and Romania), and pursuing strategic initiatives or acquisitions. Speaking about the extension, John Collison, President and Co-founder of Stripe, stated:
“People who never dreamt of using the internet to see the doctor or buy groceries are now doing so out of necessity. And businesses that deferred moving online or had no reason to operate online have made the leap practically overnight. We believe now is not the time to pull back, but to invest even more heavily in Stripe’s platform.”