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Stripe Raises $70 Million, Valued At $3.5 Billion

stripeOnline payment services provider Stripe has secured $70 million in funding, according to a report from The Financial Times. Investors in the round include Sequoia Capital, General Catalyst, Founders Fund, Khosla Ventures and Thrive Capital.

The new round of funding doubles Stripe’s valuation from $1.75 billion to $3.5 billion. The company received $80 million in funding in January 2014, and altogether has raised a total of approximately $190 million, according to CrunchBase.

The investors are seeing promise in Stripe particularly due to its ventures with major players in the e-Commerce and social commerce spaces. The payments processor is a launch partner for Apple Pay, and it also has partnered with Facebook and Twitter when the social networks launched “buy” buttons, enabling users to buy products featured on the sites.

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Stripe also has worked with Alipay, the payments partner for Alibaba, to aid online retailers outside of China in selling to Chinese consumers.

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