Stripe becomes top US startup as valuation jumps to $95 bn

The company's software, which competes with Square Inc. and Paypal Holdings Inc., is used by businesses to accept payments

Stripe Inc.’s valuation almost tripled in less than a year to $95 billion with its latest funding round, making it the most valuable U.S. startup.

The online payments processing company drew $600 million in its latest fundraising, Stripe said in a statement.
 

The valuation figure is at the top of the range Bloomberg News reported in November, when Stripe was in talks with investors that would boost its value to more than $70 billion, with the possibility of pushing it to as high as $100 billion. The valuation also overtook billionaire Elon Musk’s SpaceX and Instacart Inc., according to CBInsights