Payment processing company Stripe is now valued at $5 billion following its latest round of financing. Beyond adding more money to its coffers, the five-year-old company inked a deal with Visa which will see the duo work together on a range of projects, including digital transactions and security.
Investors that participated in this round included KPCB, Visa, Amex and Sequoia. Stripe didn’t confirm exactly how much money it raised — other than that it is below $100 million — but its new valuation represents a large jump on the $3.5 billion valuation it held when it closed its most recent $70 million round in December. (That valuation, incidentally, was double its previous one.)
The company has been focused on growing its international footprint for some time, which is another reason it is teaming up with Visa. CEO and co-founder Patrick Collison told The New York Times that Stripe will lean on the payment giant’s international presence and know-how to expand its current coverage of 20 countries.