Fintech Nexus Newsletter (March 13, 2024): Stripe processed more than $1 trillion in payments in 2023

Stripe has, for some time, been one of the leading fintech companies globally when it comes to scale.

But the numbers it revealed today in its annual letter are truly staggering. It processed $1 trillion, around 1% of global GDP, through its platform in 2023. It crossed that milestone just 15 years after it was founded.

Founders Patrick and John Collison penned the 12-page letter where they opined on the state of Stripe, tweaks they have made to the checkout process, their automation efforts, VC funding, clean energy, robotics and more.

They also commented on the record number of startups that are using Stripe today and the fact that startups founded in 2022 are generating revenue at a faster pace than those founded in 2019.

Despite the challenges in the fintech ecosystem Stripe continues to be a bright spot. They are still growing at a rapid pace while being “robustly cash flow positive in 2023”. 

This is a bullish sign for all of fintech.

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> Stripe reveals it passed $1 trillion in total payment volume in 2023

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Fintech giant Stripe revealed in its annual letter published Wednesday that it surpassed $1 trillion in total payment volume in 2023. 

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• Source: https://www.fintechnexus.com/fintech-nexus-newsletter-march-13-2024-stripe-processed-more-than-1-trillion-in-payments-in-2023/