Stripe said to be eyeing funding round that could see its valuation reach between $70bn and $100bn

Payments giant Stripe is reportedly looking to raise a funding round which could see its valuation reach somewhere between $70bn and $100bn.

Talks are still in their early stages and a funding round might never take form, according to a report from Bloomberg which cites people familiar with the matter.

The FinTech is already the second highest valued FinTech in the world. It currently has a valuation of $36bn, which it received earlier this year after closing a $600m extension to its Series G.

Stripe is a digital payments processor which provides business with the technology to complete transactions, implement billing and spend management services, and connect multi-party payments. Its product suite also includes business analytics and reporting, machine learning-powered fraud prevention, virtual and physical card creation, and in-person payments.

Even if Stripe was to hit the maximum projected valuation, it would still sit comfortably in second position for the highest valued FinTech. Ant Financial holds the crown, with an earth-shattering $150bn valuation.

However, Ant Financial is trying to launch publicly and when it does Stripe would move into the top spot.

Ant Financial had planned to hold its initial public offering earlier this year, with the aim of raising $37bn. However, Chinese regulators stepped in and halted the sale and there could be a delay of up to six months before the IPO can now take place.

This has been a very strong year for a number of US FinTechs. Chime recently became the highest valued consumer-focused FinTech in the US after a $485m funding round put its valuation at $14.5bn.

It is the rapid speed at which Chime has grown that makes this even more impressive. The FinTech was only valued at $1.5bn 18 months ago, meaning it has seen around 900% growth in such a short time.  At the end of 2019, Chime was valued at $5.8bn.

This year also saw retail investment app Robinhood reach the decacorn status. The company hit an $11.2bn valuation following the close of a $200m Series G round. It then extended the series round to add an additional $660m.

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