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Stripe’s growth continues to impress as total payment volume tops $1T

TechCrunch · 1y ago

Stripe’s growth continues to impress as total payment volume tops $1T

Stripe, the payment processing company, has surpassed $1 trillion in total payment volume (TPV) in 2023, with a 25% increase in payment volume from the previous year. This substantial growth has translated into robust cash flow, making the company cash flow positive in 2023 and expecting to remain so in 2024. Stripe has also reached the milestone of having 100 companies processing over $1 billion annually with its services. Additionally, its Revenue and Finance Automation tools are projected to achieve a $500 million annual run rate this year. Despite a decline in venture capital funding, Stripe has witnessed record startup formation and success, with startups founded in 2022 being more likely to generate revenue and process $1 million within their first year compared to those founded in 2019. Overall, Stripe's growth and achievements position it well for its potential future IPO.

Related News

UPI Transactions See Marginal Rise To 15.04 Bn In September

Inc42 · 10m ago

UPI Transactions See Marginal Rise To 15.04 Bn In September

- UPI transactions in September: INR 20.64 Lakh Cr, a 0.14% increase from the previous month - YoY growth in UPI transactions volume: 31% - NPCI considering increasing market share cap for UPI apps from proposed 30% - Total UPI transaction volume remains strong despite a small month-on-month increase - UPI continues to be a popular and widely used payment method in India

Paytm reports 20% rise in monthly transacting users to 9.4 crore in August

Economic Times

Economic Times · 1y ago

Paytm reports 20% rise in monthly transacting users to 9.4 crore in August

Paytm, a leading payments and financial services company, continues to strengthen its position in payment monetization with 87 lakh devices deployed. In the July-August period, the company saw an increase of 4.9 lakh devices, solidifying its leadership in in-store payments. Paytm's innovations, such as Soundbox devices and subscription-as-a-service model, have contributed to higher payment volumes and customer engagement. The company also reported a 20% YoY growth in monthly transacting users (MTUs), a 43% YoY growth in total merchant volume, and a 137% YoY increase in loans disbursed.

Flipkart’s Big Billion Day Lifts Parent Walmart’s Q4 Sales, But Profit Margin Takes A Hit

Inc42 · 1y ago

Flipkart’s Big Billion Day Lifts Parent Walmart’s Q4 Sales, But Profit Margin Takes A Hit

Flipkart's annual Big Billion Days sale helped boost Walmart's international sales growth in the last quarter. The event attracted around 1.4 billion customers and saw strong seller growth, with transacting sellers experiencing a 2.5x increase in business. However, the timing of the Big Billion Days sale negatively impacted gross margins. Flipkart's growth in India continues in double digits, and its digital payments platform, PhonePe, is processing over 6 billion monthly transactions and has reached 1.4 trillion in annual total payment volume. Flipkart and PhonePe, both owned by Walmart, are yet to achieve profitability in India.

PhonePe Tops UPI Chart With 6.5 Bn Transactions In April

Inc42 · 1y ago

PhonePe Tops UPI Chart With 6.5 Bn Transactions In April

PhonePe continues to dominate the UPI ecosystem in India with a market share of 48.87%, processing 6.5 billion transactions out of a total of 13.3 billion in April. Google Pay and Paytm retained their second and third positions with a market share of 37.5% and 8.3% respectively. CRED secured the fourth spot, while Amazon Pay, Fampay, and BHIM also made notable transaction numbers. Despite a slight decline in transaction volume and value, PhonePe remains a strong player due to its continued investments in subsidiaries. Paytm, however, has experienced a decline in transactions since regulatory measures were imposed on its payments bank.

Razorpay’s POS business clocks 60% growth in FY23 post acquisition of Ezetap

Inc42 · 1y ago

Razorpay’s POS business clocks 60% growth in FY23 post acquisition of Ezetap

Fintech unicorn Razorpay has witnessed a 60% growth in its POS business following the acquisition of Ezetap. Razorpay POS recorded a 40% growth in its Total Payment Volume (TPV) from April to October 2023 compared to the same period the previous year. UPI transactions contributed to 91% of the cumulative TPV, while SMS pay contributed 9%. Additionally, cash on delivery to digital payments conversion increased by 21% during this period. Razorpay POS currently accounts for 10% of the company's total revenue.

Pan IIT global tech summit 2023 to bring 5,000+ startups, investors, corporates under one roof

Inc42 · 1y ago

Pan IIT global tech summit 2023 to bring 5,000+ startups, investors, corporates under one roof

Fintech unicorn Razorpay has witnessed a 60% growth in its POS business following the acquisition of Ezetap. Razorpay POS recorded a 40% growth in its Total Payment Volume (TPV) from April to October 2023 compared to the same period the previous year. UPI transactions contributed to 91% of the cumulative TPV, while SMS pay contributed 9%. Additionally, cash on delivery to digital payments conversion increased by 21% during this period. Razorpay POS currently accounts for 10% of the company's total revenue.

Amazon tops up India payments business with Rs 600 crore

Economic Times

Economic Times · 1y ago

Amazon tops up India payments business with Rs 600 crore

Amazon has invested INR 600 crore (approximately $72 million) in its Indian fintech arm, Amazon Pay India, increasing its total investment in the payment platform to INR 950 crore ($114 million) this year. The move further intensifies the competition with other players in the Indian payments market, such as Paytm, PhonePe, and Google Pay. Amazon Pay India offers services like bill payments, UPI payments, wealth management, and insurance premium payments, and has tie-ups with various companies including Bookmyshow and Makemytrip. Amazon Pay India received a payment aggregator license from RBI earlier this year, allowing it to strengthen its merchant payments business.

Razorpay reports 9% jump in total income to Rs 2,501 crore for FY24, net profit reaches Rs 34 crore

Economic Times

Economic Times · 9m ago

Razorpay reports 9% jump in total income to Rs 2,501 crore for FY24, net profit reaches Rs 34 crore

Bengaluru-based payments provider, Razorpay, has reported a 9% increase in total income for the fiscal year 2023-24, reaching Rs 2,501 crore ($336 million). Its net profit also rose almost fivefold to Rs 34 crore ($4.6 million) during the same period. The company's annualised total payments volume reached $180 billion, with its core payment gateway business seeing a 24% revenue increase. Razorpay has recently received final approval for its payment aggregation business and has applied for a payment aggregator cross-border license.

Khatabook revenue tops Rs 100 Cr, cuts losses by 7% in FY24

YourStory

YourStory · 9m ago

Khatabook revenue tops Rs 100 Cr, cuts losses by 7% in FY24

Digital bookkeeping and lending startup Khatabook achieved over 26% growth in revenue in FY24, reaching Rs 102.70 crore. The Bengaluru-based company also decreased its losses by 7.32%, reporting a net loss of Rs 116.24 crore compared to Rs 125.43 crore in the previous year. While total expenses increased by only 3%, employee benefit expenses decreased by 17%. Other expenses, including contractor and payment gateway charges, rose by 51%. Khatabook, which helps small businesses with bookkeeping, has raised over $100 million from investors like Y Combinator and Sequoia.

Searchlight: EPC firm Eagle Infra keeps up growth pace as order book tops $1 bn

VCCircle

VCCircle · 11m ago

Searchlight: EPC firm Eagle Infra keeps up growth pace as order book tops $1 bn

Eagle Infra India Ltd, an EPC firm, continues to experience growth as its order book exceeds $1 billion. The company recently secured contracts for a water supply project in Maharashtra and a Mumbai Metro contract. These wins have contributed to their ongoing success in the industry.

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