Stripe, a company whose tools allow merchants to accept payments, says it’s growing its European operations amid a $600M Series H fund raise.

Why should we care?
Stripe has tripled its valuation in a year, and at $95B, is the world’s most valuable private fintech company. But despite its market position, it’s reportedly not focusing on going public at this time. CFO Dhivya Suryadevara calls the fund raise “opportunistic” as the company eyes acquisition targets. Stripe says it will dedicate resources (reportedly 1,000 staff members) toward its Dublin headquarters (Stripe is headquartered in both San Francisco and Dublin). It also recognizes ongoing opportunities in European markets, particularly in fintech, mobility, retail, and software-as-a-service. Stripe’s APIs – which include elements such as acceptance, processing, settlement and reconciliation – allow developers to build payment capabilities. The company says it serves more than 50 industry “category leaders,” each of which processes more than $1B annually. It generates revenue from transaction-based fees, along with add-on services like payouts, billing, fraud prevention, and point-of-sale systems. Its opportunity continues to grow in a digital-fueled pandemic e-commerce environment, and it’s adding new product offerings, including checking accounts for businesses that operate through e-commerce platforms. In February, it added former governor of the Bank of England and the Bank of Canada Mark Carney to its board.