Proactive Investors – US financial technology company Stripe has signalled a major push into the UK market with the opening of a new flagship London office in the heart of the capital’s financial district.
Stripe, which is one of the most highly valued privately owned companies in the world, also announced a suite of new payment tools and financing options in the UK, aimed at enhancing capital access and accelerating business growth.
The new features include business financing through Stripe Capital, lower-cost Open Banking-powered payments, and faster payouts.
These announcements were made at the Stripe Tour London event.
“UK businesses are inventing and building, but getting access to capital at the right time is a rate limiter on their growth,” said John Collison, co-founder of Stripe. “The payments tools and financing options we’re launching today will help money move around the economy faster and make it easier for businesses to invest when they see an opportunity to grow.”
Stripe’s software allows individuals and businesses to make and receive payments over the internet. In the past year, Stripe has doubled the number of payment methods it supports from 50 to more than 100.
Among those payment options is prominent British fintech platform Revolut.
Despite persistent doom and gloom around the state of London’s capital markets, fintech remains a source of optimism, with Revolut leaving the prospect of an IPO on the London Stock Exchange on the table.
Rival Monzo is also seen as a possible IPO prospect, although chief executive TS Anil recently said it was “too early” to discuss the idea.
“The UK’s talent, infrastructure, and financial center make it an excellent place to build Stripe from, but that’s only half the story, said Collinson.
“We’re also seeing huge growth amongst UK businesses who are excited to modernise their financial systems and expand globally. That’s what gives us the conviction that now is the time to double down in the UK.”
