FinTech Magazine - November 2021 | Page 14

TIMELINE

The story of

The world ’ s most successful ecommerce payments platform , Stripe began when two young brothers from a rural village in Ireland , decided to fix the sluggish business of online transactions .
2009
AN IDEA IS BORN John and Patrick Collison decide to troubleshoot the concept of clunky online payments in the first step of a journey that will revolutionise internet shopping and ecommerce .
2010
THE FIRST PAYMENT The brothers hit their eureka moment that creates a simple way for online transactions to be carried out . The very first transaction occurs via a company called 280 North following a two-week period during which John , Patrick , and 280 North ’ s founder , Ross Boucher , build a prototype payment portal . Stripe is launched and the company receives seed funding from the US-based seed accelerator Y Combinator .
2013
GETTING CONNECTED Following the launch of Stripe Connect the previous year , e-commerce platform Sellfy expands its payment options to include credit card processing via Stripe . The service opens for merchants in North America and Canada .
20
RECOGNITION FROM INVESTORS Following a successful beta launch in the US the previous year , Stripe raises $ 18mn from investors that include Sequoia Capital . It is also valued at $ 100mn .
14 November 2021