Stripe Raises $6.5B at $50B Valuation, with Participation from a16z and Others

Payment infrastructure company Stripe announced it has signed agreements for a Series I fundraise of more than $6.5 billion at a $50 billion valuation. Primary investors include existing Stripe shareholders like a16z, Baillie Gifford and Founders Fund, as well as new investors including GIC, Goldman Sachs Asset and Wealth Management, and Temasek.

According to Stripe, the funds raised will not be used to run its business, but to "provide liquidity to current and former employees and address employee withholding tax obligations related to equity awards, resulting in the retirement of Stripe shares that will offset the issuance of new shares to Series I investors".

Last November, Stripe said it would cut more than 1,000 jobs.