Online Commerce Startup Raises $600 Million

Despite the economic fallout from the COVID-19 pandemic, payments startup Stripe just raised an additional $600 million in new capital.

Stripe now has more than $2 billion on its balance sheet, according to the company, which facilities businesses to sell their goods online.

Investors in the Series G financing round included Andreessen Horowitz, General Catalyst, GV and Sequoia.

Stripe says the funds are to be used to step up “product development, global expansion and strategic initiatives.”

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