Stripe valuation hits $95 billion after latest fundraising
Dublin-based web payments company Stripe became more valuable than any bank in the euro zone and more valuable than Elon Musk’s SpaceX project after it raised $600 in Group H funding this week, valuing the company at $95 billion.
Stripe plans to hire 1,000 new staff in Dublin and ramp up its European operations over the next five years with the new funds from primary investors Allianz X, Axa, Baillie Gifford, Fidelity Management & Research Company, Sequoia Capital, and Ireland’s National Treasury Management Agency (NTMA).
The company was valued at $36 billion just last year when it had raised $600m.
“We’re investing a ton more in Europe this year, particularly in Ireland. Whether in fintech, mobility, retail or SaaS, the growth opportunity for the European digital economy is immense,” said John Collison, president and co-founder of Stripe.
Stripe’s list of customers includes Google, Uber and Zoom among others.
Momenta – $500 million
Chinese autonomous driving startup Momenta received $500 million from Toyota Motor, SAIC Motor, Daimler AG, Temasek, Tencent and auto parts supplier Bosch.
Led by Cao Xudong, a former Microsoft executive, the four-year-old firm has been in the news for progress made in testings in Beijing and Suzhou. The company also has a research centre in Stuttgart.
Momenta will expand its workforce and gather more data to improve future technologies, it said.
Squarespace – $300 million
Squarespace, the website building and hosting company, which is on the verge of being listed on the US stock market soon, raised almost $300 million in its latest funding round, raising the valuation of the company to $10 billion.
Dragoneer, Tiger Global and D1 Capital Partners were among the new investors, while existing investors such as General Atlantic and Accel also participated in the latest funding round.
PatSnap – $300 million
Singapore-based PatSnap’s valuation has gone beyond USD1 billion following an injection of $300 million in its latest funding round led by SoftBank Vision Fund 2 and Tencent Inm investment, joining a list of global technology unicorns.
Existing investors Sequoia China, Shun Wei Capital and Vertex Ventures Southeast Asia & India also participated in the round, said the intellectual property platform.
PatSnap plans to use the proceeds for product development, to acquire data and more domain expertise, and increase its sales globally.
Coalition – $175 million
With people becoming more aware of cyberthreats while working from home during the pandemic, cyber insurance company Coalition has used the opportunity to raise $175 million in its latest round of funding, raising the valuation of the company to $1.75 billion.
Coalition operates only in the US and Canada, where it provides up to $15 million and Canadian $20 million insurance for companies in respective countries.
The fresh funds will be used to set up new insurance products and expand overseas.
Fireblocks – $133 million
Fireblocks, the Tel Aviv-based platform that allows banks and other financial institutes to store, move and issue cryptocurrencies, saw fresh funding to the tune of $133 million from a group of investors that included Bank of New York Mellon.
BNY Mellon’s investment is being looked upon as a significant move by the world’s largest custodian bank into the world of digital assets.
The funding round also saw participation from hedge fund Coatue Management, Ribbit Capital, Stripes and SVB Capital and Fireblocks is now valued close to $1 billion.
Charge Amps – $15 million
Ahead of a planned IPO next year, Charge Amps, Sweden-based manufacturers of electric vehicle charging solutions, raised 130 million crowns ($15.3 million) in a funding round.
Charge Amps, which develops smart charging stations, cables, and cloud software, said Swedbank Robur had also bought shares worth 20 million crowns, bringing its total investment in the firm to 150 million.
Founded in 2012 by CEO Anders Bergtoft, the company has sold over 40,000 charge points to B2C and B2B customers in 15 countries.
