US firm Stripe, which enables mobile and online transactions, has been valued at $1.75 billion following a fundraising, twice the price fetched by rival Braintree last year.

Stripe is similar to Braintree, which PayPal acquired last September for $800 million, as it strives to build the volume of payments it handles from newer internet players such as Airbnb and Uber.

Now Stripe, which enables companies to accept credit card payments on websites or apps via its APIs, has claimed it is valued at twice as much. Its client list has the same kind of newer internet players as Braintree, including Lyft and Shopify.

The firm has raised $80 million in Series C backing from the likes of Sequoia Capital, Khosla Ventures and Andreessen Horowitz.

Last week, Re/code reported that Stripe was close to a deal with Twitter to supply the payment mechanism so that users could purchase products directly from tweets. That deal will likely add to its valuation.

The company was launched in 2011 by brothers Patrick and John Collison (pictured).