Stripe Inc., the highest-valued U.S. financial technology company, reached a pre-money valuation of $35 billion after raising $250 million in its latest funding round.
The payments company raised money from investors including General Catalyst Partners, Sequoia and Andreessen Horowitz LLC. Stripe plans to use the additional capital to accelerate international expansion, grow its product suite and extend its enterprise capabilities.
Latest offering expansions from Stripe include a division dedicated to lending to small U.S. businesses and a corporate credit card for U.S. businesses, which is currently available in a beta program. The card features 2% cashback on a business's top two spending categories, built-in spending controls and real-time expense reporting, among other things.
The fintech firm recently launched in eight additional countries, expanding its presence to 40 countries overall, and it plans to launch in more countries in 2020.
