PayTech giant Stripe to make its mark in Israel

US FinTech giant Stripe has launched its operations in Israel and begun recruiting local talent, a report by CTech has revealed.

Stripe develops payment processing software that enables app developers to embed payment solutions, whether from credit cards or other digital means.

Founded in San Francisco in 2010 by brothers Patrick and John Collison, Stripe received initial capital backing from well-known entrepreneurs such as Elon Musk and Peter Thiel, as well as from venture capital firms Sequoia Capital and Andreessen Horowitz. In 2021, the company raised $600m at a $95bn valuation, and reportedly became the highest valued private FinTech company in the world.

Many Israeli companies operating around the world use the company’s payments systems. Stripe has also invested in several Israeli companies, such as the Israeli FinTech company Rapyd.

To date, the company has raised $2.2bn. According to CTech, there are plans on the company going public in 2022.

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