Payment giant Stripe completes $6.5 billion financing

Payment giant Stripe has completed a $6.5 billion Series I round of financing at a $50 billion valuation. Participating investors include a16z, Baillie Gifford, Founders Fund, General Catalyst, MSD Partners, Thrive Capital, GIC, Goldman Sachs and Temasek. Stripe said the funding round will not be used to start the business, but will instead be used to provide liquidity to former and current employees and to resolve employee withholding tax obligations related to equity incentives.