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Stripe’s growth continues to impress as total payment volume tops $1 trillion
With plans to be cash flow positive again in 2024, and $8.7 billion in venture funding, Stripe likely has little to no need to raise more before going public.
That may be part of the reason why it is not pursuing a near-term IPO: Public offerings are fundraising mechanisms, and Stripe is currently kicking off cash, limiting its need for more capital. Those companies make up about 10% of its total payment volume, implying some customer concentration — a concern for some investors, although it doesn’t trip our risk radar — but more importantly means that Stripe is managing to hold onto large accounts over time. The fact that so many big accounts are sticking with Stripe implies that customers will not necessarily “graduate” from its offered payment services, which bodes well for future growth and revenue stability.
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