Irish-founded payments platform Stripe's valuation has edged up to $70 billion as Sequoia Capital offers to buy shares from its investors looking to cash out of the fintech that helps merchants process customer payments.
Sequoia is offering to buy Stripe shares at $27.51, according to people familiar with the matter, who asked to not be identified because the details are not public, according to a Bloomberg report.
The valuation is up from the $65 billion price tag Stripe hit in February, but below the $95 billion dollar valuation it achieved in 2021.
The venture capital firm offered that price to limited partners in funds raised between 2009 to 2012 who might want liquidity for their shares, Axios reported earlier.
Sequoia is buying up to $861m in shares, one of the people said.
Founded in 2010 by Limerick brothers Patrick and John Collison, Stripe was first declared a "unicorn" - a privately-owned company that is valued at more than $1 billion - in 2014.
