Payments processor stripe has raised more than $6.5 billion in a new funding round which saw its valuation fall about 47% from 2021. Aoyon_A writes
on Wednesday that it doesn't need the capital to run its business; rather it will use the proceeds to provide employee liquidity."The funds raised will be used to provide liquidity to current and former employees and address employee withholding tax obligations related to equity awards, resulting in the retirement of Stripe shares that will offset the issuance of new shares to Series I investors," according to press release.
The investors for the new round included existing Stripe shareholders Andreessen Horowitz, Baillie Gifford, Founders Fund, General Catalyst, MSD Partners and Thrive Capital, and new investors GIC, Goldman Sachs Asset and Wealth Management and Temasek, the company said in the statement.citing macroeconomic factors such as inflation, rising energy prices and higher interest rates.
Goldman Sachs served as sole placement agent on the new funding round, and JP Morgan acted as financial advisor.
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