Stripe IPO Seen On Track for Next Year

While 2021 has seen a number of big-name IPOs hit the market, one highly touted company has decided to hold off a bit longer. Payment company Stripe is now expected to come public next year although the company has taken some recent steps toward an IPO.

Recently Stripe hired legal powerhouse Cleary Gottlieb Steen & Hamilton LLP to help it prepare its listing but is still seeking to tap investment bankers later this year. This would put the company on track for a 2022 IPO.

Stripe is said to be considering a direct listing versus a traditional IPO or SPAC listing.

A March fundraising round of $600 million valued the company at $95 billion. Primary investors include Allianz X, Axa, Baillie Gifford, Fidelity Management & Research Company, Sequoia Capital, and Ireland’s National Treasury Management Agency (NTMA).

The company said it would use those funds to invest in its European operations.

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