Stripe Opens New Toronto Office To Support 50% Growth In Payment Processing
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Stripe has opened a new main branch in Toronto. The company said Toronto is the fourth biggest place for tech workers in North America, and it wants to take advantage of the wide market in the region.
Stripe helps Canadian startups such as Thinkific and Workleap, as well as big businesses like Shopify, SkipTheDishes, FreshBooks, and Enercare. From 2021 to 2023, Stripe’s payment amount from Canadian firms grew by more than 50%. The firm said many new businesses join Stripe every day, and older companies use Stripe to try new ways of making money.
Last Year, Stripe Introduced New Tools To Help Canadian Businesses
Shopify, a worldwide online selling platform, uses Stripe for Shopify Payments, payments in stores, and Shopify Balance. In the past 12 months, Stripe has rolled out new products to help Canadian businesses grow. Stripe Payments lets people sell in more than 195 countries. More than half of Stripe’s Canadian users sell items across borders.
Matthew Burlak, in charge of Canada GTM at Stripe, noted that after more than 10 years in Canada, the company is happy to help many top startups and big businesses. He added that the firm sees many more Canadian enterprises joining it every day and the team is excited to add more members and help even more Canadian companies do well.
Recently, Stripe teamed up with Zip, a company from Australia that offers buy now, pay later services. This partnership will help online stores by giving them flexible payment choices on Stripe, so customers can split their payments into four parts over six weeks. This deal comes after Zip’s earlier collaboration with Google Pay and Mastercard.
Stripe Made Deals With Investors To Provide Liquidity For Current And Past Employees
Stripe has added exiting features, including Tap to Pay on iPhone. It lets people pay by tapping without extra gadets, using Interac Debit. Stripe Billing, which charges based on how much customers use, helps businesses monitor and charge for usage easily.
With its new Toronto branch, Stripe is hiring for jobs in engineering, design, sales, and product management. The company also plans to grow more in the future.
Early this year, Stripe stated that it had made deals with investors to give money to current and past Stripe workers via a tender offer, putting the company’s value at $65 billion.
This was a 30% rise from the $50 billion value it had last year when it received over $6.5 billion in funds from investors. Stripe also acquire a firm, Okay, from San Francisco last year for an unknown amount.
