TechFlow news — According to official announcements, payments giant Stripe has closed a $6.5 billion Series I funding round at a $50 billion valuation. The round was backed by a16z, Baillie Gifford, Founders Fund, General Catalyst, MSD Partners, Thrive Capital, GIC, Goldman Sachs, and Temasek. Goldman Sachs acted as the exclusive placement agent for the transaction, while JPMorgan served as financial advisor. This valuation is approximately 47% lower than Stripe's peak valuation of $95 billion in 2021.
Stripe stated that the funds will be used to provide liquidity for current and former employees and to cover employee withholding tax obligations related to equity compensation. Stripe does not require this capital for operating its business.Original link
