Payment tech company Stripe to create 1,000 new jobs in Ireland

Monday, March 15
BUSINESS


The online payments firm Stripe, founded by Irish brothers Patrick and John Collison, is to create at least 1,000 new jobs in Ireland over the next five years.

The news comes after the company raised $600m of new equity, making Stripe the most valuable private company in Silicon Valley.

The Collison brothers founded Stripe after selling their first venture, a tool for eBay sellers called Auctomatic, for more than €3m in 2008. 

They then founded the payment technology company in 2010 and early investors included PayPal founders Elon Musk and Peter Thiel.

"We're investing a ton more in Europe this year, particularly in Ireland," said John Collison, President and co-founder of Stripe. 

"Ireland is now a leading tech capital of Europe, with great talent and companies emerging all the time, we're keen to help cement that position".

The new Irish jobs will add to the 300 already employed in Dublin. 

Stripe also plans to expand its operations in Brazil, India and Indonesia later this year.

Ireland Strategic Investment Fund managed by the National Treasury Management Agency (NTMA) is to invest $50m as part of the new equity raised.

Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar said, "This is fantastic news on the jobs front and the start of a really welcome partnership between the Irish state and Stripe." 

Newsday and Agencies