Wall Street bank Goldman Sachs is setting up a special entity in a bid to allow its wealthy clients to participate in Stripe's upcoming funding round.
Details about the terms offered to customers and the structure of the deal are unclear at the moment. Sources informed Bloomberg that Stripe is eyeing a $4B fundraising.
Earlier estimates pointed to a $2.5B funding round, in which Joshua Kushner's VC firm Thrive Capital reportedly planned to contribute $1B.
- The San Francisco-based payments processing startup roped in Goldman Sachs and JPMorgan Chase last month to explore fundraising and direct listing options.
- Stripe is raising the funds to provide liquidation options for employees expiring restricted stock units and pay off a tax liability.
- This year, the company expects to process over $1T in payments through its platform and perhaps earn a profit.
- Stripe's valuation at the upcoming funding round is expected to be $55B, a significant cut over its peak valuation of $95B.
