Stripe has announced that the businesses running on Stripe have collectively passed the AU$1.5 trillion mark in total payment volume, up 25% from the prior year. This equates to roughly 1% of global GDP.
In the company’s annual letter, Stripe also highlighted several other key business momentum figures, such as:
- Although VC funding in 2023 hit its lowest levels since 2018, Stripe has actually seen a record number of startup formations using its tech in 2023.
- Stripe’s enterprise segment also continues to grow rapidly, with more than 100 enterprise companies now processing more than AU$1.5 billion per year with Stripe.
- In 2023, the influx of AI companies onto Stripe grew even larger. Twice as many AI companies went live on Stripe compared to 2022.
- During Black Friday / Cyber Monday 2023, Stripe processed more than 300 million transactions, totalling AU$28 billion — its largest four-day period to date— and more than 31,000 businesses had their best day ever on Stripe.
- Stripe continues to move beyond just payments to offer, developing revenue and finance automation products too to help businesses orchestrate their overall financial logic.
Pictured: Stripe managing director for Australia and New Zealand, Karl Durrance.