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Illustration: Eniola Odetunde/Axios

Digital payments platform Stripe has raised $600 million in new funding and is now valued at nearly $36 billion, co-founder and president John Collison tells Axios.

Why it matters: Venture capitalists remain willing and able to invest big dollars in select companies, despite concerns that some limited partners could struggle to meet capital calls.

This is an extension to Stripe's Series G round, which closed last fall on $250 million, and came together in just the past few weeks. Most of the participants are existing investors.

  • Stripe was widely viewed as a 2019 IPO candidate. When that didn't happen, a 2020 IPO candidate. But Collison and his CEO brother Patrick have steadfastly refused to publicly comment on their timeline (except to say "not anytime soon").

Between the lines: Stripe also may be one of the few companies to be somewhat benefiting from lockdowns, given its focus on e-commerce enablement.

  • Existing clients include Instacart, DoorDash, Postmates, and Caviar. It also recently added Zoom.
  • Collison says that businesses that joined Stripe since March 1 have generated nearly $1 billion in revenue already.
  • "This is digital migration in a very compressed period of time, for both businesses and customers," Collison adds. "My mom recently asked me if I'd heard of 'this Instacart thing.' Yeah mom, I have."

Go deeper: Stripe becomes the third-highest-valued U.S. startup

Go deeper

1 hour ago - Health

Biden voices support for private sector vaccine requirements

Photo: Shawn Thew/EPA/Bloomberg via Getty Images

President Biden said Tuesday that he supports efforts by private businesses to require coronavirus vaccines.

Driving the news: Biden's comments come hours after New York City announced it would demand proof of vaccination for indoor activities, including trips to gyms and restaurants.

Biden calls on Cuomo to resign after sexual harassment findings

Cuomo with Biden and Sen. Chuck Schumer in September 2020. Photo: Chip Somodevilla/Getty Images

President Biden called on New York Gov. Andrew Cuomo (D) to resign on Tuesday after an independent investigation found that Cuomo sexually harassed multiple women, including employees in his office, in violation of state and federal law.

Why it matters: Unlike dozens of other prominent Democrats, Biden held off on calling for Cuomo's resignation in March when the allegations of sexual misconduct first emerged.

Biden expected to announce new eviction ban

Photo: Bloomberg / Contributor

President Biden is expected to reveal a new, more "targeted" ban on evictions, three sources familiar with the matter confirmed to Axios.

Why it matters: The Biden administration allowed the previous eviction moratorium to expire on Saturday night — putting millions of people at risk of homelessness.