US Payments firm Stripe bags $70m

PayPal and iZettle competitor Stripe has brokered a $70m investment deal that values the company at $3.5bn.

The San Francisco based firm will doubtless be thrilled by the deal that the doubles the valuation of the company in less than a year. A January 2014 funding round raised $80m valued the company at $1.75bn. It seems that new deals with Google, Apple and Twitter have significantly added to the attractiveness of the firm. They have also worked with Alibaba.

Founded in 2010 by Irish brothers Patrick and John Collison, Stripe has been doing well stateside but hasn’t made much of an impact on this side of the the Atlantic just yet. But it’s clearly coming of age.

As Stripe’s Patrick Collinson says: “People were previously being kind of unambitious about what was possible, and now through things like the buy buttons on Twitter and Facebook or enabling Alipay, I think people are starting to see what might be possible.”

One to watch.