Main buyers reportedly up stakes in Stripe forward of public itemizing
The Stripe logo on a smartphone with U.S. dollar banknotes in the background.
Budrul Chukrut | SOPA Images | LightRocket via Getty Images
Major investment firms are upping their stakes in digital payments firm Stripe ahead of an eventual public listing, the Wall Street Journal reported Monday.
Capital Group, Sequoia Capital, Shopify and Silver Lake all bought shares from existing stakeholders, including current and former Stripe employees, the Journal reported, citing unnamed sources. The sales totaled about $1 billion, of a total $4 billion that was bid.
Representatives for Stripe and for the investment firms did not immediately respond to request for comment.
San Francisco-based Stripe, founded a decade ago, makes software that processes payments for e-commerce businesses and became the most valuable private fintech company after a round of fundraising in March that valued the company at $95 billion.
Stripe ranked No. 2 on the 2021 CNBC Disruptor 50 list.
Read more about the recent stock sale in the Wall Street Journal.
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