Stripe raised $70 million in a round that values the payments firm at $3.6 billion — making last year’s acquisition by PayPal of rival Braintree look more and more of a good deal.
According to the Financial Times, investors in the latest round include Sequoia Capital, General Catalyst, Founders Fund, Khosla Ventures and Thrive Capital.
The firm raised $80 million for a $1.75 billion valuation back in January 2014.
The company has made significant progress this year including deals with Alibaba, Apple, Facebook and Twitter.
Stripe’s technology enables businesses to process card payments via their mobile app or website.
Its nearest counterpart is Braintree, acquired just over a year ago by PayPal for $800 million. That valuation would probably be considerably higher if Braintree were still an independent company today.