Stripe, a financial tech firm that facilitates transactions for merchants, has seen its valuation increase to £50 billion (~€64 billion) due to Sequoia Capital’s proposal to acquire shares from investors looking to liquidate their stake. This proposition came with a share price value of £19.81 ($27.51), a figure disclosed by anonymous sources who did not want to reveal their identity as the specifics have not been made public yet. The American venture capital firm laid out this offer to limited associates in funds that were amassed from 2009 through 2011 who were considering turning their shares into liquid cash, as per a report by Axios on Monday. Sequoia intends to acquire up to £620 million ($861 million) worth of shares. Both Stripe and Sequoia have chosen not to provide any commentary on this matter.
Stripe, ranked among the most valuable privately-owned tech companies, was established and continues to be steered by Irish siblings, John and Patrick Collison. Until recently, it had a valuation of £46.77 billion ($65 billion), following a deal that permitted existing and ex-staff members to liquidate a portion of their shares. This figure marks an increase from its prior £36 billion valuation and falls slightly short of its £68.39 billion ($95 billion) worth noted during a funding round in 2021. Since its inception over a decade ago, Stripe has experienced considerable growth. Its market rivals consist of PayPal Holdings and Adyen.