Stripe is a US technology company, operating in over 25 countries, that allows both private individuals and businesses to accept payments over the Internet. Stripe focuses on providing the technical, fraud prevention, and banking infrastructure required to operate on-line payment systems.
Using Stripe, web developers can integrate payment processing into their websites without having to register and maintain a merchant account. Stripe has a two-day waiting period for initial transactions, during which time it profiles the businesses involved to protect against potential fraud. Stripe then transfers the funds directly into the bank account linked to the payee.
Irish entrepreneurs John and Patrick Collison founded Stripe in 2010. Stripe began as a start-up called /dev/payments. The name resulted in misspellings and confusion to those outside the company, so the company renamed itself Stripe. In June 2010, Stripe received seed funding from Y Combinator, a start-up accelerator. In May 2011, Stripe received a $2 million investment from venture capitalists Peter Thiel, Sequoia Capital, and Andreessen Horowitz. In February 2012, Stripe received an $18 million Series A investment led by Sequoia Capital at a $100 million valuation. Stripe launched publicly in September 2011 after an extensive private beta. Less than a year after its public launch, Stripe received a $20 million Series B investment from General Catalyst, Sequoia Capital, Peter Thiel, Redpoint Ventures, Chris Dixon, and Aaron Levie. In March, 2013, Stripe acquired chat and task-management application Kick-off.
In March 2014, CEO Patrick Collison announced that Stripe would support bitcoin transactions. In January 2015, Stripe introduced a machine learning based fraud detection system.
In 2016, Stripe was ranked #4 on the ForbesCloud 100 list.