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Irish businesses have processed over €20bn on Stripe

Irish-founded payments platform Stripe is marking its tenth anniversary of working with Irish businesses with the release of new data on Ireland's internet economy.

The figures show that over the last decade, Irish businesses have processed more than €20 billion on Stripe.

Dublin is the dominant county in Ireland's internet economy and is home to all seven Irish companies valued at $1 billion or more.

The capital also has more Stripe users than any other part of the country.

The data shows that over the past five years, almost all of Ireland’s counties grew their payment volume on Stripe faster than Dublin, with the fastest acceleration occurring in counties such as Cork, Carlow and Galway.

The data also shows that Irish businesses are seizing international opportunities, with nearly 56% of payments volume from overseas.

Co-founder of Stripe John Collison said: "Thinking back to when we launched Stripe, Ireland’s tech scene is like night and day.

"Tech founders would find it impossibly difficult to raise money and compete for talent, and small businesses simply didn’t have the tools to operate online."

"Nowadays, Ireland produces software companies at industrial scale and the internet economy is everywhere," Mr Collison said.

In March, Stripe announced that it had raised an additional $6.5 billion in funding.

But the money was raised at a valuation of $50 billion, just over half of what the tech company was valued at the last time it raised capital just two years ago.

In November 2022, Stripe said it would reduce its global workforce by 14%, resulting in 1,000 redundancies.

At the time the firm employed 600 people here.

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