The U.S. fintech giant’s payments volume growth slowed to 26 per cent in 2022 compared to 60 per cent in a pandemic-fuelled 2021, the company’s co-founders (and brothers) Patrick and John Collision wrote in Stripe’s annual community letter. Despite rising numbers (the company said it processed more than US$817 billion in total payments volume in 2022), it’s a “significant deceleration from the breakneck growth [Stripe] saw during 2020 and 2021,” the letter said. (The Logic)

Talking point: While the U.S. remains the company’s largest market, 55 per cent of businesses that joined Stripe last year were based outside the country, the company said. Canada is a priority market for Stripe, Sheryl So, spokesperson for the company, told The Logic in an email. In February, the Shopify-backed firm told investors in a confidential pitch deck that its payments volume growth was 23 per cent this year through the end of January, faster than the growth of other big tech companies like Airbnb, Amazon and Doordash. In March, the company raised over US$6.5 billion in Series I at a US$50-billion valuation, a dramatic fall from its US$95 billion value in early 2021.