The funds raised will be used to provide liquidity to current and former employees and address employee withholding tax obligations related to equity awards, resulting in the retirement of Stripe shares that will offset the issuance of new shares to Series I investors.
GIC and Temasek are among new investors in Irish-American financial services and software-as-a-service (SaaS) company Stripe, which announced on March 16 a Series I fundraise of more than US$6.5 billion ($8.78 billion) at a US$50 billion valuation.
Primary investors include existing Stripe shareholders — Andreessen Horowitz, Baillie Gifford, Founders Fund, General Catalyst, MSD Partners and Thrive Capital — as well as new investors GIC, Temasek and Goldman Sachs Asset and Wealth Management, among others.
