Varo and Stripe are reportedly raising new capital at significantly lower valuations

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According to The Information, the world’s largest payments company Stripe is still seeking funding and is now reportedly aiming for a valuation of about USD 50 billion, or USD 20 per share, after encountering some difficulties.

As part of a new investment that was in the works and would have valued the FinTech company between USD 55 billion and USD 60 billion, TechCrunch earlier this year reported that Thrive Capital had reportedly committed USD 1 billion in new capital to Stripe. Initially, it was believed that Stripe was looking to raise USD 2 billion, but according to reports from The New York Times and The Information, the actual amount is likely closer to USD 2.5 billion to USD 3 billion.

In an unexpected turn of events, Stripe is reportedly seeking new funding to “address the issue of expiring restricted stock units for some of its veteran employees — and a massive employee tax bill that will likely come with it,” according to The Information.

Read More: Varo, Stripe said to be raising new funds at much lower valuations

TalkFintech Bureau
TalkFintech Bureauhttps://talkfintech.com
TalkFintech is focused on the latest financial sector technologies and tools- covering all tech used by banks, investors, insurance, and wealth management sectors- and also conversations on retail financial management tools.

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