Payments startup Stripe has raised $245 million at a $20 billion valuation, the company said Wednesday. Tiger Global Management led the round, joined by Sequoia Capital and DST Global. News of the the fundraising was first reported by Bloomberg.
Stripe said it would use the cash to expand globally and build out operations and enterprise features. Its valuation boost, from $9.2 billion in 2016, comes amid investor enthusiasm for payments firms including Shopify and Square, which have both risen sharply on public markets this year.