New York (CNN Business) Move over, SpaceX and Instacart: Payments processing company Stripe is now the most valuable startup in America. Stripe announced Sunday a new $600 million round of funding at a valuation of $95 billion, nearly tripling its last valuation of $36 billion. Stripe has gotten a boost thanks to the pandemic-fueled surge in demand for online and mobile commerce. Top global investors -— such as Allianz, Axa, Baillie Gifford, Fidelity, Sequoia Capital, and Ireland's National Treasury Management Agency — took part in the recent funding round, Stripe said. But Stripe now maintains that it makes more sense to focus on processing credit card, debit card and mobile wallet transactions instead of cryptocurrencies.

Source: CNN March 15, 2021 15:11 UTC