Stripe, the online payment firm founded by Irish brothers Patrick and John Collison, is now valued at $20bn after it raised another $245 million in funding.
The company said it would use the money to accelerate its international expansion and product development.
In particular the San Francisco headquartered firm said it will rapidly expand its international reach and add to its engineering talent around the world by opening a new hub in Singapore.
It will also grow the capabilities of its global payments and treasury network and expand its operations and enterprise features to accommodate larger customers.
Founded by the Collison brothers in 2010, Stripe initially built a service to enable businesses to sell and customers to buy easily online and is now live in 25 countries.
However, in recent years it has expanded its operations into other areas including a service that helps businesses incorporate more easily called Atlas, businesses operations software called Sigma, an in-person payments service called Terminal and a fraud detection system called Radar.
In February of this year it announced it was expanding its engineering team in Dublin, adding dozens of jobs to the 100 already there.
In a statement the firm said while only 3% of global commerce is online today, the number is expected to grow to $4 trillion in the next two years, driven by large numbers of people in Southeast Asia and India coming online.
"We believe in the contingency of progress," said Patrick Collison, the company's Chief Executive Officer, in a statement.
"Better global payments infrastructure will increase economic output, encourage entrepreneurship, and help upstarts compete with incumbents."
"By bringing Stripe into more markets and building out our capabilities for companies of all sizes, we hope to accelerate innovation around the world."
The company's products are used by some of the biggest names in the technology industry, including Facebook, Microsoft, Salesforce and Amazon, and it recently added Google, Spotify and Uber to its customer list.
Tiger Global Management led the round, with DST Global and Sequoia. They join existing Stripe investors, including Andreessen Horowitz, Kleiner Perkins, Khosla Ventures, General Catalyst, and Thrive Capital.
In total the company has raised $685 million since it was founded.
Prior to today's announcement the company had last been valued at $9.1bn.
