The largest US fintech company last raised cash at a staggering £95bn valuation meaning the firm could heading for one of the biggest tech IPOs in history.
In just ten years, Stripe has risen to become the most valuable US tech start-up with a valuation at its last fundraising of $95bn after it raised $600m from a host of existing investors including Allianz X, Baillie Gifford, Sequoia Capital and Ireland’s National Treasury Management Agency (NTMA) in March 2021.
The company helps process online payments as well as offering a host of other financial services such as card issuing. It counts customers from large global firms as well as thousands of small businesses.
According to the Reuters report this morning, Stripe has hired Cleary Gottlieb Steen & Hamilton LLP, a law firm based in New York. The firm will act as legal adviser to Stripe, which was also reported as not yet having instructed any investment banks, another crucial step in the IPO process.
The report also mentioned, citing two sources that Stripe could instead opt for a direct listing as it didn't need to raise new cash in the process. If so it would join the likes of Wise which also chose the direct listing route in an £8bn entry to the London market this week.