Sumitomo Mitsui Card Company, a credit card branch of financial services conglomerate Sumitomo Mitsui Financial Group, has invested an undisclosed amount in US-based mobile payment technology provider Stripe, TechCrunch reported yesterday.
Stripe provides technology that helps online merchants and service providers including Twitter, Kickstarter, Shopify, Salesforce.com and Lyft accept and process payments.
The funding was provided as Stripe launched commercially in Sumitomo Mitsui Financial’s home country of Japan, having introduced a beta version there in partnership with the group in May 2015.
Stripe last received funding in July 2015, when Visa added an undisclosed amount to a series D round that already included fellow payment services provider American Express, Sequoia Capital and General Catalyst Partners, and which valued it at $5bn.
The company did not disclose the size of the series D round, revealing only that it was under $100m, but Stripe’s website states it has now raised more than $300m since it was established in 2011.
Existing investors in the company include Thrive Capital, Founders Fund, Khosla Ventures, Andreessen Horowitz, Redpoint Ventures, SV Angel and angel investors Peter Thiel, Elon Musk, Elad Gil, Chris Dixon and Aaron Levie.