Mobile Payments Start-Up Valued at $1.75 Billion

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A USA based mobile payments start up has raised USD80 million from investors valuing the company at around USD1.75 billion.

In an interview with the Wall Street Journal, but not confirmed yet on their own announcements page, the company said that it has raised the funds from venture-capital investors including Khosla Ventures, Sequoia Capital, and Founders Fund.

Stripe has now raised more than $120 million from investors and has 90 staff.

The company provides a simplified method for smaller businesses to accept payments through mobile websites by providing them easy to use code that can be inserted into their existing websites.

The company, which operates in 12 countries does not provide revenue figures, but said that turnover through its payments platform had doubled since last September.

The company, founded by two brothers was set up just three years ago and is one of a small number of start-ups to have secured valuations in excess of a billion dollars.

On the web: Wall Street Journal - Stripe

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Tags: mobile commerce  stripe  USA 

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