Irish-American online payments giant Stripe has expanded to the Middle East opening its first office in the United Arab Emirates’ financial capital Dubai.
Founded in 2010 in California by Patrick Collison and John Collison, the service is currently used by millions of businesses including Google, Amazon, Uber, Wish and Maersk.
The company said that its payments service were already used by companies in the United Arab Emirates including Illusions Online, ChatFood, Aceplace, GloFox and WeKeep.
Stripe’s expansion to the region which was supported by a partnership with Dubai-based Network International will enable companies in the region to to accept payments and make payouts without facing any challenges.
“The UAE is a thriving hub for technology, supported by strong investor appetite, internet-savvy consumers, and an open, innovative ecosystem of business leaders and entrepreneurs. Similarly, the pool of tech talent in the Middle East is growing very rapidly.’’ said Matt Henderson, Stripe’s EMEA Business Lead. ‘’However, companies still face challenges when trying to accept payments, make payouts, and manage the financial side of internet businesses. Stripe removes these complexities so businesses can focus on what makes them special.’’
Last month, the payment giant raised $600 million at a $95 billion valuation.