Synopsis The latest capital raise from investors including Thrive Capital could be the largest private funding round in recent memory, marking a steep decline in the valuation of the fintech startup, which was valued at $95 billion in early 2021. Reuters Stripe is also unlikely to launch an initial public offering (IPO) this year as the latest fundraise would cover a forthcoming tax bill Digital payments processor Stripe Inc is close to raising $4 billion in fresh capital at a valuation of about $55 billion, people familiar with the matter said. The latest capital raise from investors including Thrive Capital could be the largest private funding round in recent memory, marking a steep decline in the valuation of the fintech startup, which was valued at $95 billion in early 2021. The funding is expected to be completed by the end of March, the sources said, cautioning that the target number could still fall short. Stripe is also unlikely to launch an initial public offering (IPO) this year as the latest fundraise would cover a forthcoming tax bill, and they need to find a replacement for Dhivya Suryadevara, its chief financial officer who announced her departure earlier this month, the sources said, requesting anonymity as the discussions are confidential. The company has already tapped investment banks Goldman Sachs Group and JPMorgan Chase to help with its latest fundraise and to lead its preparations for an IPO eventually. Stripe, which is aiming to turn profitable before it lists shares on stock exchanges, is raising capital because it needs to cover a big tax bill associated with restricted stock units (RSUs) of employees that are set to expire soon, the sources said. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Goldman Sachs has also been setting up special purpose investment vehicles to offer wealth management clients opportunities to invest in Stripe, one of the sources said. Bloomberg first reported Goldman's offering on Thursday. Stripe and Goldman Sachs declined to comment. Founded in 2010 by Irish brothers Patrick and John Collison, Stripe builds payment software solutions that allows merchants to accept digital payments in different currencies. It processed about $14. 4 billion in gross revenue in 2022, compared to about $11. 7 billion in 2021, the sources cited above said. Don’t miss out on ET Prime stories! Get your daily dose of business updates on WhatsApp. click here! Friday, 24 Feb, 2023 Experience Your Economic Times Newspaper, The Digital Way! Read Complete Print Edition » Front Page Pure Politics Companies Disruption More New Telecom Bill to be Tabled in Monsoon Session The government is preparing to introduce the new telecom bill in the monsoon session of Parliament later this year, with a revised draft ready after inter-ministerial and public consultation, said a senior official. Yellen Seeks More Fin Support for Ukraine US treasury secretary Janet Yellen Thursday sought greater financial support from the global community for Ukraine while mooting harsher global sanctions against Russia as she cautioned against violation of current penal measures on Moscow. Shoppers’ Grocery Purchases Return to Growth Aisle after 5 Quarters of Fall Purchases of daily groceries and essentials rose 2. 4% in the October-December period, halting a five-quarter run of declines in the fast-moving consumer goods (FMCG) segment. Read More News on stripe fundraising stripe fundraising stripe thrive capital fundraising stripe ipo stripe ceo replacement stripe goldman sachs digital payments firm stripe fintech stripe Stay on top of technology and startup news that matters. Subscribe to our daily newsletter for the latest and must-read tech news, delivered straight to your inbox. . . . more less ETPrime stories of the day Strategy Stock Radar: This Sensex stock from automobile space may retest 52-week high in 1-2 months; here’s why 3 mins read OTT Reliance JioCinema is streaming IPL 2023 for free. Will this now disrupt the OTT business? 9 mins read Artificial intelligence How to ensure the fair use of the data that powers conversational, generative AI tools like ChatGPT 6 mins read Subscribe to ETPrime.