One of the most noted payment methods in the mobile era in global standards Stripe, similar to PayPal (as per Fobes), the Silicon Valley start-up is all set to enter the Indian market with a whopping budget of US $5 Billion. With its first hiring in its hand, former Amazon executive Anand Balaji will take care of growth of the firm thus initiating its operations from Mumbai, Maharashtra.
The sole motto to enter India is to compete with payment solutions service providers such as PayU, Citrus Pay as well as RazorPay. As per reports from ET, the six-year-old digital payment firm confirmed its investors like Sequoia Capital, Visa, American Express, etc. as its initial round-off fundraisers. The not-so-old global competitor has managed to emerge as one of the busiest fin-tech startupsby offering software services to small and medium-sized enterprisesso as to build their payment infrastructure.
Stripe was founded in 2010 by Patrick and John Collison headquartered in Ireland. The sole reason of quick scattering of the business immensely simple and easy to use the platform. The payment getaway for flocking firms especially the international sellers such as Lyft, Pinterest, BrainTree, Slack, Klarna, among as many as 1,00,000 online startups.
The mobile payment solutions Stripe urges its customers to make payment in as almost 130 different currencies by setting up a merchant account thus start accepting payments within minutes of signing in. One can also sell through third-party apps without any hesitation. The facility provides customization option to its developers who are quite a unique idea comparative to its rivals. Moreover, merchants can even diversify and modify it according to their requirement, by accepting payments from varied sources like credit cards, bitcoins, Apple Pay, etc.
At present, Stripe is operating in 25 countries which include South East Asia, USA, Europe possessing more than 1,00,000 business setups as its customers. It has raised approximately 290 million USD through seven round of funding and recently valued at $5 billion in its latest round of fundraising.