Payments Infrastructure · S-1 Filed Feb 2026 · $159B Valuation
Last updated: June 18, 2026 · Status:IPO Pending — S-1 Filed · S-1 Filed: February 14, 2026
The short version
Stripe filed a confidential S-1 on February 14, 2026 at a $159B valuation with $51B annualized revenue. Founded by Irish brothers Patrick and John Collison in 2010, Stripe processes payments for millions of businesses globally. This is set to be the largest fintech IPO in history. Listing expected Q3–Q4 2026.
IPO Quick Facts
Field
Data
Company
Stripe Inc.
Co-Founders
Patrick Collison (CEO) & John Collison (President)
Massive revenue, global scale, proven business model. One of the cleanest pre-IPO profiles in tech. S-1 filed confirms active process. The only concerns are the size of the offering and typical payments-sector regulatory scrutiny.
Why Stripe is Worth Watching
Stripe processes hundreds of billions of dollars in payments annually, serving everyone from two-person startups to Fortune 500 companies. Its developer-first approach — making it dead simple to accept payments online — created a moat that competitors have struggled to replicate. The product suite has expanded from pure payments into billing, treasury, identity, and business lending.
At $51B annualized revenue, Stripe is not a growth-stage company — it's a mature infrastructure business with a clear path to profitability that's chosen not to prioritize it yet. The IPO is less about proving the business works and more about providing liquidity for employees and early investors, while enabling Stripe to pursue the massive financial services opportunity (Stripe Capital, Stripe Treasury, Stripe Issuing) that requires public company credibility.
Patrick Collison's leadership and the company's Irish roots add an interesting narrative layer. Stripe has historically been disciplined about avoiding controversy — compare its regulatory posture to Adyen or PayPal. That may stand it in good stead as regulators scrutinize fintech infrastructure.
Revenue & Growth
Metric
Value
Notes
Annualized Revenue
$51B
As of early 2026
Valuation
$159B
~3x revenue multiple
Payment Volume
Hundreds of billions annually
Most processed by any private fintech
Revenue Sources
Processing fees, billing, Atlas, Capital
Diversified across product lines
Global Reach
135+ countries
Localized in 35+ currencies
Customer Base
Millions of businesses
From bootstrapped startups to enterprises
IPO Timeline
2010
Patrick and John Collison co-found Stripe in Dublin, Ireland. Moved to San Francisco shortly after.
2010–2023
Raises $8.7B across 9 funding rounds, reaching $159B valuation. Expands from payments to billing, treasury, Atlas, and Capital.
Stripe filed a confidential S-1 on February 14, 2026 at $159B valuation. Given the size and complexity of this offering, listing is expected in Q3–Q4 2026, possibly later given the scale of the company and regulatory considerations around its payments infrastructure.
Stripe's last private valuation was $159 billion from its Series I in 2023. At $51B annualized revenue, this represents roughly 3x revenue — a reasonable multiple for a high-quality fintech infrastructure business.
Stripe reported $51 billion in annualized revenue as of early 2026, making it one of the highest-revenue private technology companies in the world. Revenue comes primarily from payment processing fees (2.9% + 30¢ per transaction) along with Stripe Atlas, Stripe Capital, and Stripe Billing.
Stripe competes primarily with Adyen (AMsterdam-listed), Checkout.com, PayPal, Square (Block), and Braintree. Stripe differentiates through its developer-first API, comprehensive product suite, and global reach across 135+ countries.
Pre-IPO Stripe shares are available on secondary markets like Forge Global, EquityZen, and Hiive for accredited investors. Given Stripe's size and the massive demand for its shares, availability is limited and shares typically trade at a premium to the last funding round valuation.
Stripe is a generational infrastructure business — every internet company needs payment processing, and Stripe has the best API. At $51B ARR with a clear profitability path, it's one of the most mature companies to ever go public at this valuation. The financial services expansion (lending, treasury, issuing) represents a massive total addressable market beyond payments.