Temasek, GIC help payment startup Stripe to raise $8.7b funding round

The Series I funding round will support liquidity of its employees.

Investment firms, Temasek and GIC, are new investors in fintech firm, Stripe’s, Series I funding round of $8.7b (US$6.5b) with a $67b (US$50b) valuation.

According to Stripe, the funding will be used to provide liquidity to its employees and resolve “employee withholding tax obligations related to equity awards, resulting in the retirement of Stripe shares that will offset the issuance of new shares to Series I investors.”

“Over the last 12 years, current and former Stripes have helped build foundational economic infrastructure for millions of businesses around the world, and this transaction gives them the opportunity to access the value they’ve helped create,” Stripe co-founder and president John Collison said in a statement.

Those that signed agreements for the fund are Stripe’s primary investors, Andreessen Horowitz, Baillie Gifford, Founders Fund, General Catalyst, MSD Partners, and Thrive Capital.

Aside from GIC and Temasek, new investors of Series I include Goldman Sachs Asset and Wealth Management.

Stripe’s user base now has some of the biggest global enterprises such as Amazon, Ford, Salesforce, BMW, and Maersk. Currently, 100 businesses transact more than $1.3b (US$1b) on Stripe annually.

$1 = US$0.74

Follow the link s for more news on

GIC

Temasek Holdings

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia