Andreessen Horowitz, General Catalyst, GV and Sequoia Capital are investing in the round. Stripe plans to use the funds to fuel global expansion and product development. (The Logic)

Talking point: Stripe’s rate of new businesses going live on its platform has accelerated since the beginning of the year, as a growing number of firms look to sell online because of COVID-19. As Stripe put it in a release, “several years of offline-to-online migration are being compressed into several weeks.” The Silicon Valley-based firm has the money to take advantage of the online push, with over US$2 billion on its balance sheet—money it plans to use to make sure current clients get uninterrupted service even as it seeks to add new ones. So far in 2020, it has added Zoom Video Communications as an enterprise customer, as well as Caviar, NBC and Paid.