Stripe
Also a provider — view Stripe’s profile →“Can a payments API company become the complete financial operating system for every internet business — and simultaneously serve as the infrastructure layer that all other fintechs build on?”
Founded2010
HQSouth San Francisco, California, USA and Dublin, Ireland
FoundersPatrick Collison, John Collison
Total raised>$8B
Latest roundSecondary transaction (2025)
Valuation~$159B (2025)
IndustryInfrastructure / Payments
The story
Founded in 2010 as a radically simple payments API for developers, Stripe rapidly expanded beyond payment acceptance into a full financial infrastructure platform. Starting around 2016–2018, Stripe layered in Connect (multi-party payouts), Issuing (card creation), and Billing, positioning itself as the financial OS for internet businesses. The 2020 launch of Stripe Treasury marked its most significant pivot — from a PSP into a BaaS provider selling embedded banking to platforms. By 2024–2025, Stripe was competing across nearly every embedded finance layer: payments, issuing, treasury, lending, tax, FX, and identity, with a stated valuation of ~$159B on $1.9T in annual payment volume.
Last 12 months
Product timeline
2010
Founded as DevPayments (also known as /dev/payments) by Patrick and John Collison, offering a simple API for accepting card payments online.· pivot
2011
Public launch of Stripe as a developer-first payment processing API.· banking
2016
Launched Stripe Connect, enabling marketplaces and platforms to route payments to third parties.· banking
2018
Launched Stripe Issuing (card issuing API) and Stripe Billing (subscription management).· card
2019
Launched Stripe Capital, offering revenue-based financing to platform merchants.· lending
2020
Launched Stripe Treasury, providing embedded banking (financial accounts, money movement) for platforms via BaaS.· banking
2021
Raised $600M at $95B valuation; expanded global coverage and launched Stripe Tax for automated tax compliance.· pivot
2024
Revenue reached $5.1B; expanded stablecoin-backed card programs to 30+ countries; introduced AI-native commerce and agentic payment features.· pivot
2025
Stripe Connector for NetSuite with Stripe Connect support (transfers, application fees, per-account reporting) enters public preview. (source: https://docs.stripe.com/use-stripe-apps/netsuite/stripe-connect-netsuite)· banking
Acquisitions
Metronome2025
Acquired the usage-based billing platform (used by OpenAI, Anthropic, Databricks) to own the metered-billing stack for AI-era pricing.
Privy2025
Acquired the embedded crypto-wallet infrastructure provider (75M+ wallets) to let developers spin up self-custody wallets, deepening its stablecoin stack.
Bridge2025
Completed its $1.1B purchase (its largest ever) of the stablecoin API platform to build stablecoin payment and financial-account infrastructure.
Lemon Squeezy2024
Acquired the merchant-of-record startup handling global sales-tax compliance for digital/SaaS sellers, seeding Stripe's Managed Payments MoR product.
Recko2021
Stripe's first India acquisition — added automated payments-reconciliation software.
TaxJar2021
Acquired the cloud sales-tax automation provider to embed automatic tax calculation, reporting and filing into its platform.
Paystack2020
Acquired the Nigerian payments processor for ~$200M to expand embedded payment acceptance across Africa.
Regulated entities
3
regulatory licences held by Stripe
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
In the press
embeddedfinancereview.com ↗Coverage sourced from Embedded Finance Review — a content partner for this report. All articles are © their original authors; click any card to open the source.
🎙 interview2026-06-11
Why German Platforms Are Leaving Money On The Table with Julius Danek (Stripe)
stripe
Source · Embedded Finance Review ↗
◇ article2026-01-13
Modulr's US expansion + Stripe powers Microsoft Copilot
stripe
Source · Embedded Finance Review ↗
◇ article2026-01-12
Stripe Powers Checkout Inside Microsoft Copilot
checkoutstripe
Source · Embedded Finance Review ↗
◇ article2026-01-02
Wix Expands White-Label Payments to 11 EMEA Countries with Stripe
stripe
Source · Embedded Finance Review ↗
◇ article2025-10-07
Worldpay vs. Stripe & Adyen: Can they catch up in embedded finance?
adyenstripeworldpay
Source · Embedded Finance Review ↗
◇ article2025-09-19
Odoo Launches Global Expense Management Card with Stripe and Mastercard Partnership
stripe
Source · Embedded Finance Review ↗
◇ article2025-07-02
Stripe Capital Expands to Germany as Embedded Lending Competition Intensifies
stripe
Source · Embedded Finance Review ↗
◇ article2024-08-05
Stripe adds a new banking partner. Why this is big news for embedded finance?
stripe
Source · Embedded Finance Review ↗
Same company
Stripe was analysed under more than one name on the same domain, so its stack is split across these dossiers. Each was analysed independently and may name providers the others do not.
The stack
9 layers disclosed in Stripe’s embedded-finance stack
Payments / PSP
Banking / BaaS
in the full report
Card issuing
in the full report
Card network
in the full report
Lending
in the full report
Open banking
in the full report
Sponsor bank
in the full report
FX & payouts
in the full report
Accounting
in the full report
Accounting gap: none
21 more providers across 8 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.