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What's a few billion between brothers? Stripe's valuation doubles to $3.5bn

The e-payments service was set up by the John and Patrick Collison in 2010.

Patrick Collison at the 2013 Web Summit.
Patrick Collison at the 2013 Web Summit.
Image: Mark Stedman/Photocall Ireland

THE ONLINE PAYMENTS company founded by two Limerick brothers has received a fresh investment of $70 million (€57 million), valuing the four-year-old start-up at $3.5 billion (€2.8 billion).

The Financial Times reports that Stripe has finished a fundraising round that shows a doubling in the valuation of the company since last January.

Back then, a $80 million (€65 million) injection saw the company valued at $1.75 billion (€1.4 billion).

John and Patrick Collison’s e-payments service Stripe is designed around making online credit card payments easier for developers.

The progress of the San Francisco-based firm has been followed very closely this year with significant announcements involving two of the internet’s biggest companies

Stripe has been working closely with Twitter as the site officially started testing its long-awaited function for users to buy products directly from their timeline.

Facebook is also going in a similar direction and has been testing its own Stripe-powered ‘Buy’ button.

Read: Stripe goes global by letting users get paid in any currency >

Read: Twitter could soon let you buy goods directly from tweets >

About the author:

Rónán Duffy

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