Stripe clients processed more than $640bn in payments last year

Businesses using the services of Stripe, the online payments company founded by John and Patrick Collison, processed more than $640 billion (€588 billion) in payments last year, the brothers said in an update on Friday.

This marked a 60 per cent increase on 2020, but the Collisons noted that much of the growth came from “one-time behavioural adjustments caused by the pandemic” and cautioned that 2022 would not deliver the same level of expansion.

Some 1,400 new companies and 100 non-profit organisations started using Stripe’s services each day during 2021.

“Online spending was only 12 per cent of global spend in 2021. There’s a long way to go,” they said.

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Stripe's most recent funding round valued the company at $95 billion, making it the most valuable private company in Silicon Valley. It now employs more than 7,000 people across 23 countries, including Ireland.