KUALA LUMPUR (April 27): Online payment processing platform Stripe has become the most valuable private company in Silicon Valley following its most recent funding round.

According to research data analysed and published by online trading portal Comprar Acciones last week, the digital payment giant raised US$600 million (about RM2.46 billion) at a US$95 billion valuation.

Citing PitchBook Data Inc, a firm that delivers data, research and technology covering private capital markets, the portal said Stripe’s new valuation is close to triple its last reported valuation of US$36 billion less than a year ago in April 2020.

It said investors involved in the latest funding round included Sequoia Capital, Allianz X, Baillie Gifford, and Fidelity Management and Research Company.

The portal said courtesy of the new fundraising, Stripe leapfrogged Instacart, Chinese ride-hailing giant Didi Chuxing and Elon Musk’s SpaceX.

Prior to the funding round, SpaceX was the most valuable start-up in the US, worth US$74 billion based on a February 2021 valuation.

Instacart was second with a US$39 billion valuation from March 2021.

Comprar Acciones said the three companies are now worth a cumulative US$208 billion, up from US$149 billion, with Stripe in the top position.

The portal said on a worldwide scale, Stripe is second only to Chinese tech giant ByteDance.

The company, which owns TikTok, was last valued at US$180 billion in December 2020 following a US$2 billion funding round.

SpaceX is third, while Didi Chuxing ranks fourth with US$62 billion, ahead of Instacart.