Stripe Inc. plans to hire hundreds of additional staff for its London office next year as part of a larger expansion in Europe ahead of a possible IPO.
In an interview, Matt Henderson, the firm’s business head for Europe, the Middle East, and Africa, stated that the company plans to open a fintech office in London. “We’ve always had European origins as a firm, but they’re becoming increasingly important.”
Stripe, which was founded by Irish entrepreneurs and has offices in Dublin and San Francisco, was recently valued at $95 billion and might go public as early as next year. It began hiring engineers in London about a year ago and currently employs roughly 200 people there. It has employed hundreds of people in the city in the previous year and expects to keep up that pace in the future year, according to Henderson.
The East London startup hub office will also concentrate on growing non-financial company offerings, bank integrations such as transfers, and open banking. Next month, engineers in London intend to test a “pay-by-bank” option.
Stripe has also stated that it intends to hire hundreds of software engineers in Dublin over the next few years. Stripe has also stated that it intends to hire hundreds of software engineers in Dublin over the next few years.
Valuation and Owners
According to sources familiar with the situation, Stripe Inc., the digital payments firm last valued at almost $100 billion, is in early talks with investment banks about going public as soon as next year.
The 11-year-old firm is exploring a direct listing or an initial public offering (IPO), according to the sources, who asked not to be identified because the material is confidential. According to the sources, the company’s intentions, including the timeframe, might yet alter.
Stripe, founded by brothers John and Patrick Collison, is one of the most highly anticipated IPOs in recent years and one of the most valuable private firms to ever go public. According to the Bloomberg Billionaires Index, the Collisions have a combined net worth of $11.4 billion.
Stripe raised $600 million in March for a $95 billion value. According to data source CB Insights, this makes it the most valued US startup and one of the most valuable internationally, alongside TikTok parent ByteDance Ltd.
Stripe is owned by a number of people, including the Collison brothers, who established the company, as well as investment firms including Sequoia Capital and General Catalyst, which contributed to fundraising rounds. The specific equity split is presently unavailable to the public.
Is Stripe Profitable?
Stripe’s recent EBITDA statistics of $120 million indicate that the company is profitable. The firm, on the other hand, does not offer thorough financials that may be compared to previous years’ records.