Stripe Says Volume Growth Slowed Even With More Large Customers
- More than 100 firms now process $1 billion a year with Stripe
- Company sees California losing ground with new tech companies
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Stripe Inc., one of the world’s most valuable startups, said growth in payments volume slowed last year after a pandemic surge, even as it helped more large business clients handle payments over the internet.
The payments company, which was valued at $50 billion in a fundraising round just last month, said volume climbed 26% to $817 billion in 2022, according to the firm’s annual user letter published on Wednesday. That compares with 60% in 2021, when Stripe and many of its rivals saw rapid growth as consumers did more shopping online during the pandemic.