Stripe announced a new $250 million funding round from a group of investors including General Catalyst, Sequoia and Andreesen Horowitz, placing the payments firm at a pre-money valuation of $35 billion. 

Stripe said the new funding round will be used to fuel its international expansion, to grow its enterprise payments business and to expand its suite of products. 

"Even now in 2019, less than 8% of commerce happens online," John Collison, co-founder and president, said in a company release. "We're investing now to build the infrastructure that'll power commerce in 2030 and beyond. If we get it right, we can help the internet fulfill its potential as an engine for global economic progress." 

Stripe said it has built a Global Payments and Treasury Network, as well as several new products that sit atop that system, including Connect, Billing, Terminal and Radar. The company said billions of dollars in business from entrepreneurs to enterprise companies are using its payments system, including GitHub, Wayfair, Twilio and TheRealReal. 

Stripe recently expanded to eight new countries, bringing the total number to 40, covering 70 of the global economy. The firm plans to add additional markets in 2020. 

Cover image courtesy of Stripe.