Financial technology company Stripe said today that it now has a valuation of €135 billion ($159 billion).
This compares to a reported $107 billion last year.
In its Annual Letter, issued today, Stripe outlined that businesses running on Stripe generated $1.9 trillion in total volume last year, up 34% from 2024.
"Our programmable financial services now power more than 5 million businesses directly or via platforms, including all of the top AI companies, many of the largest blue-chip companies (90% of the Dow Jones Industrial Average), most of the biggest tech companies (80% of the Nasdaq 100), and a significant fraction of freshly minted startups," the letter stated.
In its update, Stripe also highlighted concerns about a fall in the availability of capital for businesses.
"In Ireland, bank lending to small businesses dropped by more than 66% between 2011–2019," the letter stated.
Meanwhile, John Collison, the co-founder and president of financial technology company Stripe, has said he was "pleasantly surprised" by the widespread reaction to his thoughts on infrastructure bottlenecks in Ireland.
In an article Mr Collison wrote for The Irish Times last year, he said that the delivery of infrastructure projects has been hampered by red tape, as well as by too many regulators, government departments and agencies.
"I was pleasantly surprised it got a lot of pick up, I wasn't expecting that but I was happy to see it," Mr Collison told reporters at a media roundtable on the publication of Stripe's Annual Letter.
Asked if he thinks infrastructure delivery has improved since his remarks were published, Mr Collison said he was referring to a multi-decade phenomenon so "it's too soon judge because this stuff will play out over time."
He added that people should be feeling "fed up" about infrastructure delivery in Ireland.
Founded in 2010 by Irish brothers Patrick and John Collison, Stripe was first declared a "unicorn" - a privately-owned company that is valued at more than $1 billion - in 2014.
It has opted to remain private as its valuation soared since it was created.
