Multi-billion dollar payments start-up Stripe just got a new cash injection and a bit more valuable.
The company said this week that it raised an additional $100 million from Tiger Global Management, boosting its valuation to $22.5 billion. This round, first reported by the Information, follows a $245 million Series E fundraise announced last fall that put its valuation at $20 billion.
Jamie Dimon has never been shy about his envy for Silicon Valley.
The CEO of J.P. Morgan Chase frequently travels west to meet with venture capitalists and entrepreneurs, touts his bank’s hefty investments in technology and famously warned in 2015 that “Silicon Valley is coming,” thanks to “hundreds of startups with a lot of brains and money working on various alternatives to traditional banking.”...
This could be a banner year for fintech, according to one of the industry’s most dialed-in CEOs.
Zach Perret runs Plaid, which links more than 20 million customer bank accounts to financial technology apps like Robinhood, Venmo and Coinbase. The start-up recently raised $250 million at a $2.7 billion valuation and added Kleiner Perkins partner Mary Meeker to its board.
Square is making another attempt to break into banking.
Approval of the plan would allow the payments company to operate without going through outside banks and intermediaries. If approved, Square would also get access to a coveted feature of the banking world — deposit insurance.
San Francisco-based Square is well-known in the payments sector for its credit card processor, payment hardware and Cash...