Funds processor agency Stripe mentioned it had signed agreements to lift greater than $6.5 billion at a valuation of $50 billion, which is about 47% lower than its 2021 valuation of $95 billion.
The corporate mentioned in a press release on Wednesday that it does not want the capital to run its enterprise; slightly it’s going to use the proceeds to offer worker liquidity. “The funds raised might be used to offer liquidity to present and former staff and handle worker withholding tax obligations associated to fairness awards, ensuing within the retirement of Stripe shares that may offset the issuance of latest shares to Sequence I buyers,” in line with press launch.
The buyers for the brand new spherical included current Stripe shareholders Andreessen Horowitz, Baillie Gifford, Founders Fund, Normal Catalyst, MSD Companions and Thrive Capital, and new buyers GIC, Goldman Sachs Asset and Wealth Administration and Temasek, the corporate mentioned within the assertion.
Goldman Sachs served as sole placement agent on the brand new funding spherical, and JP Morgan acted as monetary advisor.