Stripe, US-based startup, offering payment services to India's merchants following its raise

CioreviewIndia team | Monday, 15 March 2021, 04:25 IST

StripeUS-based payments startup Stripe is making headlines all around the world after its latest fundraise of $600 million at an appraisal of a whopping $95 billion. The 11-year old firm is now the most valued startup in the US.

Stripe offers payments processing services for businesses and individuals and has been one of the hottest fintech firms in the world. The startup raised its latest round from investors Allianz X, Axa, Baillie Gifford, Fidelity Management & Research Company, Sequoia Capital, and Ireland’s National Treasury Management Agency (NTMA).

While it highlights that with the latest round it will double down on its operations in Europe, where it has the most presence (35 of the 41 countries where Stripe is present are in Europe), the startup also said that it will look to present its payment services to merchants in India soon.

“In 2021, Stripe will continue to build its Global Payments and Treasury Network, further expanding its suite of software and services to help ambitious businesses drive more revenue. Stripe will also soon be available to millions more businesses in Brazil, India, Indonesia, Thailand and the UAE,” said the company in its official statement announcing the funding.

But this won’t be the first time the company is toying with an India entry. In 2016, Stripe had set up its initial base in India by hiring former Amazon India executive Anand Balaji as its country head.

In 2017, the company kicked off an “invite-only beta for Stripe in India with a small group of companies”. Though, the company hasn’t made any significant progress in India’s payments ecosystem yet.

According to the recruitment page on its website, the company is also presently hiring in India for various engineering roles.

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