Stripe, a payments processor, announced on Wednesday that they raked in USD 6.5 billion in a Series I funding round led by current and new investors at a USD 50B valuation.
The existing primary investors include General Catalyst, MSD Partners, Andreessen Horowitz, Baillie Gifford, Founders Fund, and Thrive Capital.
The new investors that led this funding round were Goldman Sachs Asset and Wealth Management, GIC, and Temasek. According to the report by Reuters, Stripe will utilize the cash to cover a large tax bill and offer liquidity to employees.
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