Allianz X supports Stripe’s expansion in Europe

MEDIA RELEASE

• Allianz X is a primary investor in Stripe’s latest USD 600 million funding round
• Stripe builds economic infrastructure for the internet, enabling online payment processing for all kinds of businesses: from the smallest startups to the largest enterprises
• Allianz X sees astounding growth and collaboration potential in Stripe and will support it in expanding its commitment to Europe

Munich/San Francisco, March 14, 2021 — Allianz X, the digital investment unit of Allianz Group, has today announced its participation in Stripe’s latest funding round, which totals USD 600 million. That puts Stripe at a valuation of USD 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 Dr. 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 USD 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.

For further information, please contact:

Allianz X

Gregor Wills, +49 89 3800 61313, gregor.wills@allianz.com

Stripe c/o PIABO PR

Andreas Krönke, +49 30 2576205 21, stripe@piabo.net

About Stripe

Stripe is a technology company that builds economic infrastructure for the internet. Businesses of every size-from new start-ups to public companies like Salesforce and Zoom Video Communications-use Stripe’s software to accept online payments and run technically sophisticated financial operations in more than 100 countries. Stripe helps new companies get started and grow their revenues, and established businesses accelerate into new markets and launch new business models. Over the long term, Stripe aims to increase the GDP of the internet.

About Allianz X

Allianz X invests in digital frontrunners in ecosystems relevant to insurance and wealth management. As one of the pillars of the Allianz Group’s digital transformation strategy, Allianz X provides an interface between Allianz Operating Entities and the broader digital ecosystem, enabling collaborative partnerships in insurtech, fintech, and beyond.

Originally published at https://www.allianzx.com on March 14, 2021. This media release and its assessments are subject to this disclaimer.