Allianz X supports Stripe’s expansion in Europe

Allianz X, the digital investment unit of Allianz Group, has announced its participation in Stripe’s latest funding round, which totals $600 million. That puts Stripe at a valuation of $95 billion—something it has achieved since its founding only ten years ago. The investment, but also Allianz X’s network, which stretches from its portfolio of digital growth companies to Allianz entities and beyond the financial services ecosystem, will support Stripe’s expansion of its European operations and long-term plans for the continent.

"The innovation that Stripe has brought to the online economy over the past decade is astounding. By taking a tech-first approach and making payment processing more accessible, Stripe has paved the way for entirely new business models," said Nazim Cetin, CEO of Allianz X. "In Allianz, Stripe has an experienced partner for global financial services. We are excited to help Stripe further its expansion here in Europe and around the world."

Stripe powers global payments and surrounding services with its economic infrastructure for the internet. Among its millions of customers, there are more than 50 companies that each process over $1 billion annually with Stripe. Of the 42 countries in which Stripe supports businesses today, 31 are in Europe. Many of the continent’s most exciting companies are using Stripe, including, for example, Allianz X portfolio company and digital bank N26.

“We’re investing a ton more in Europe this year,” said John Collison, President and co-founder of Stripe. “Whether in fintech, mobility, retail or SaaS, the growth opportunity for the European digital economy is immense.”

2020 was a year of further acceleration for Stripe’s enterprise business, as the company welcomed hundreds of large multinationals looking to scale and adapt to the increased pace of online commerce during the pandemic. In 2021, Stripe will increase the size of its Dublin headquarters and its European operations to meet the surge in demand coming from across the region.