Financial technology startup Stripe has been valued at $35 billion, making it the third-highest valued in the field, according to a report.
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The only two startups that have been valued higher are WeWork and Juul, Axios reported. In January, WeWork was valued at $47 billion, according to Reuters, while the e-cigarette maker was worth $38 billion in December, according to TechCrunch.
Stripe’s valuation came after a new round of fundraising for the San Francisco-based company, which brought in $250 million, according to The Wall Street Journal.
Investors included venture capital firms Andreessen Horowitz, Sequoia Capital and General Catalyst, the newspaper reported.
The round of fundraising isn’t closed yet, but according to TechCrunch, Stripe’s president and co-founder John Collison said it's unlikely the investment will change from $250 million.
Collison also told the website that the company isn’t planning on going public soon.
“We are still very happy as a private company,” Collison reportedly said. “Our emphasis remains on the long-term opportunities.”
Stripe was founded in 2010 and has raised about $1.2 billion since then, according to the Journal.
It creates software for businesses to accept payments and manage their companies, according to its website.