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

TechCrunchTechCrunch · 8m
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.

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