Fintech startup Stripe in talks for new funding at much higher valuation

US fintech startup Stripe Inc is in talks for a new funding round at a much higher valuation, Bloomberg News reported on Tuesday, citing people familiar with the matter.
 

The company could have a valuation of more than $70 billion or significantly higher, at as much as $100 billion, after the funding, the report said, citing one of the sources.
 

Stripe, which is currently valued at $36 billion, declined to comment on the report.
 

Consumer-facing fintechs have seen a boost to their businesses during the Covid-19 pandemic, as people have been staying at home to avoid catching the virus and have increasingly been managing their finances online.
 

Stripe, whose products let companies receive online payments and bill customers, raised $600 million in April in an extension of a Series G round.