Stripe is worth over $95 billion; will buy Indian Fintech company Recko.

Stripe wants to integrate all financial services under one umbrella.


Alfred Lee

21 Oct, 2021

Stripe is worth over $95 billion; will buy Indian Fintech company Recko. | BEAMSTART News

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Stripe, one of the highest valued startup companies in the world, has just made its first acquisition in India.

The payments giant will be acquiring Recko, a startup that lets businesses easily track and automate payments reconciliation.

Key Highlights

  • Stripe will be acquiring Recko for an undisclosed sum (terms of the deal were not disclosed).
  • Founded in 2017 and operating out of Bangalore, the company tracks and analyzes financial transactions, revenue receivables, payables and contract discrepancies with high accuracy.
  • Upon the acquisition, Recko's services will be integrated as part of Stripe's broader suite of services.
  • Recko's existing users will still be able to utilize the company's services as a standalone product too.

Why It Matters

  • While the value of the deal was not mentioned, Recko had previously raised approximately $7 million prior to the acquisition.
  • Recko's previous investors include Vertex Ventures, Prime Venture Partners, and several angel investors.
  • Stripe’s move come as part of a bigger consolidation prior to a possible public listing, where the company seeks to combine fintech services of all kinds under one umbrella — fully accessible via APIs.
  • Stripe is currently valued at more than $95 billion.

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