Online secure payment service company Stripe are one of the fabled Unicorn Companies which have a net worth of greater than a billion dollars. Stripe achieved this landmark fame back in 2014, nowadays having an estimated value of 20 billion dollars. Essentially an online software company that provides the backbone for most online payment systems used by organizations around the world; it is perhaps no difficult task to see how they make their money.
Founded by Patrick and John Collison Strike offers subscriptions to online payment software that companies use to process their orders. As a result of this Strike has to be as secure as it is possible to be, and so they do a lot of research and development in the online security industry. Preventing fraud is one of their highest priorities and their ability to do this time and again without major data breaches is what has kept them on top of the pack. We wanted to find out who financed them, how they make their billions and what it is that helps them stay in the lead.
Stripe began in 2010 when two Irish entrepreneurs engages Y Combinator for a start up project. With initial funding from Sequoia Capital, Peter Thiel and Andreesen Horowitz they turned their idea for a secure online payment system into reality. After registration in 2011 they quickly moved to buy out Kick-Off. After that their software development focus was on E-Commerce, Payment facilitation and payment gateway data. Through progressive developments they are now reputed as being one of the largest, and safest, online payment portals that exists.
With recent expansion into providing other companies the ability to issue their own credit cards, it seems that Stripe is a money making machine. By creating integrated payment software and selling to web developers they create a constant income stream. In a thriving digital marketplace that has global reach and is growing day by day – any other services they offer are like icing on a very wealthy cake. By facilitating a platform wherein business can create subscription payments, bill their clients and manage invoicing all in one place Stripe are providing a whole host of business based necessities all in one place.
List of Services
Stripe have various services that are all covered by the ‘payment services’ umbrella. Some of them are listed here:
- API development and roll out through Relay.
- Billing services that allow for online payment processes.
- Atlas – which helps new businesses become incorporated.
- Credit card issuing through B2B contract.
- Radar – their anti-fraud software product/program.
- Banking infrastructure for online payments
- A subscription payment system.
- Stripe Sigma – to properly analyze data on your behalf.
In only 7 years Stripe have grown to cover Australia, the US, the UK, Spain, Hong Kong – and a whole host of other companies. Further investments from names such as Fintech Kholsa Ventures, Lowercase Capitol and Capital G it is no wonder that they have made themselves into one of the 260 Unicorn companies. As long as they continue to remain flexible they should stay that way for the foreseeable future. If you wish to learn more you can visit their website, here.