Stripe With a $95B Valuation May Be the Best Company You Ever Heard of Says Yahoo! Editor

Stripe, a payment processing platform startup, has raised another $600 million in financing, giving the company a valuation of $95 billion now.

Yahoo Finance’s tech editor Dan Howley has described the company as “the biggest company you’ve never heard of” who “pretty much power every back end transaction, many back end transactions that you are having or you know, conducting online.”

According to Howley, Striple’s goal is to “increase the GDP” of the internet.

The company was founded in 2010 by two siblings and has a software that competes with both Square Inc. and PayPal Holdings. The software is used by businesses to accept payments and customers include Salesforce, Amazon, and Lyft.

It was this past November that Bloomberg News had reported a valuation range and the $95 billion is at the top of it. At the time Stripe was in discussions with investors to increase its value to over $70 billion with the potential of hitting $100 billion.

The company’s CFO Dhivya Suryadevara has said Stripe didn’t really need the money in the fundraising. He remarked this past weekend, “I view this as a bit more opportunistic.” The company “is highly capital efficient,” he said.

“It will just sit on the balance sheet,” Mike Moritz, partner at Sequoia Capital and a Stripe board member, said as well. It will just be a “a rainy day fund — it pays to have a little more insurance.”

Stripe will invest in its European operations, in particular its headquarters in Dublin.

Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.