Fintech revolution in online payments: Stripe has reached a market valuation of $22.5 Billion, after 8 years from launching

Payments startup Stripe has raised an additional $100 million from Tiger Global Management, boosting the firm’s valuation to $22.5 billion, according to a person close to the company.

The fundraising is a follow-on round to a $245 million round led by Tiger Global last year, which valued Stripe at $20 billion. The money will be used for growth areas including international expansion, the person said.

Founded in 2010 by Irish brothers Patrick and John Collison (photo), Silicon-Valley-based Stripe has built itself up into a multi-billion dollar company off the back of making it easy for online sellers to accept card payments.

The firm has built up an impressive list of clients, recently adding Google and Uber to its stable of users ranging from one-man web stores to commerce giants.

Recently it has begun branching out, launching a point-of-sale payments terminal package targeted at online retailers making the jump to offline. It is also trialing the cash advance service that rivals PayPal and Square offer users.

A company spokesperson told CNBC: „Stripe is rapidly scaling internationally, as well as extending our platform into issuing, global fraud prevention, and physical stores with Stripe Terminal. The follow-on funding gives us more leverage in these strategic areas.”

Stripe, which is by far the most valuable private fintech company in the world, has benefited from growth in online payments, attracting investments from Elon Musk, Peter Thiel, Sequoia Capital and Google’s venture arm Capital G, among others.