Techiexpert.com
No Result
View All Result
  • Tech
  • Startup
  • Artificial Intelligence
  • IOT
  • Big Data
  • Cloud
  • Data Analytics
  • Machine Learning
  • Blockchain
No Result
View All Result
  • Tech
  • Startup
  • Artificial Intelligence
  • IOT
  • Big Data
  • Cloud
  • Data Analytics
  • Machine Learning
  • Blockchain
No Result
View All Result
Techiexpert.com
No Result
View All Result

Stripe Eyes India Expansion With Latest $245 Mn Fund Raise

Sony T by Sony T
September 30, 2018
in Startup news
0
Stripe Eyes India Expansion With Latest $245 Mn Fund Raise 1
9
SHARES
127
VIEWS
Share on FacebookShare on Twitter

San Francisco-based payments company Stripe has raised around ₹1,776 crores ($245 million), valuing the company at $20 billion. Stripe’s valuation jumped more than 2x from the previous valuation of $9 billion, two years back, during the previous fundraising.

The round was led by Tiger Global Management, other new backers included DST Global and Sequoia Capital, along with existing investors Andreessen Horowitz, Kleiner Perkins, Khosla Ventures, General Catalyst and Thrive Capital.

With the fresh funding, the company is looking to venture overseas into the Indian and the Southeast Asian market. The company is looking to tap into the growing e-commerce industry in these markets to expand its payment products. It is looking to target the 500 million users that are expected to become online users in the next three years in Southeast Asia and India.

Stripe was founded by John Collison and Patrick Collison in 2010. It provides a set of unified APIs and tools that instantly enable businesses to accept and manage online payments. The company made its first move in India in December 2017, announcing the launch of Stripe’s beta in India.

In a blog post stripe said, “With Stripe Atlas, we’ve already been able to help some Indian entrepreneurs build and scale global companies. However, we believe that by operating locally in India—with the ability for Indian companies to connect their local bank accounts to Stripe and get paid out in rupees—we can help support even more businesses and more types of business models (such as local marketplaces) in the years to come.”

According to an IBEF report, the Indian e-commerce market was pegged at $38 billion in 2017, it is further expected to grow to $200 billion by 2026. The growing smartphone penetration and the lowering internet costs are expected to drive the growth of e-commerce in India.

Along with other global giants, Stripe is also looking to leverage the growing opportunity in India.

Tags: digital paymentseCommerce
Share4Tweet2Share1Pin1

Popular this week

  • Renesas Expands IoT Footprint with Sequans Acquisition

    Renesas Expands IoT Footprint with Sequans Acquisition

    2351 shares
    Share 940 Tweet 588
  • Y2Mate.com 2023: How to Download Videos and Audios

    280 shares
    Share 112 Tweet 70
  • Top 10 Omegle Alternatives you might like

    346 shares
    Share 138 Tweet 87
  • Does God Play Dice? – A Quantum Perspective

    55 shares
    Share 22 Tweet 14
  • What is windows modules installer ? How to Enable/Disable

    132 shares
    Share 53 Tweet 33
  • Top 10 YouTube to MP3 Converter Platforms for Free

    103 shares
    Share 41 Tweet 26

Popular Sections On Techiexpert

Artificial Intelligence Big Data Blockchain Blogging Cloud Computing Data Analytics How to Internet Of Things Machine Learning Marketing Trends Social Media Startup news Tech news

Latest Stories on Techiexpert

Evolution of Drone Technologies and Adoption in India

Evolution of Drone Technologies and Adoption in India
Share4Tweet3Share1Pin1

Microsoft Unveils Unified AI Assistant ‘Copilot’ for Windows 11

Microsoft Unveils Unified AI Assistant 'Copilot' for Windows 11
Share4Tweet3Share1Pin1

Kerala Startup Mission’s ‘Huddle Global 2023’ Set to Ignite Thiruvananthapuram in November

Kerala Startup Mission's 'Huddle Global 2023' Set to Ignite Thiruvananthapuram in November
Share4Tweet3Share1Pin1
  • Privacy Policy
  • About Us
  • Contact us
  • Cookie Policy
  • Write For Us

© 2016-2022 All Rights Reserved

No Result
View All Result
  • Tech
  • Startup
  • Artificial Intelligence
  • IOT
  • Big Data
  • Cloud
  • Data Analytics
  • Machine Learning
  • Blockchain

© 2016-2022 All Rights Reserved

Cookie Law Notice
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
SAVE & ACCEPT
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.