Tempo, Stripe’s new blockchain, hits $5B valuation in $500M funding round
Led by Thrive Capital and Greenoaks, the raise comes less than two months after Stripe unveiled its layer-1 blockchain for stablecoin and real-world payments.
Stripe’s blockchain project, Tempo, raised $500 million in a Series A round led by Greenoaks and Thrive Capital, valuing the payments-focused network at $5 billion, according to Fortune.
Sequoia Capital, Ribbit Capital and Ron Conway’s SV Angel also joined the round, while Stripe and Paradigm did not contribute additional capital, a person familiar with the deal said.
The news comes less than two months after Stripe, a global payments and fintech giant, unveiled plans for its new layer-1 blockchain in partnership with Paradigm, a venture capital firm that invests in crypto and Web3 startups.