General Catalyst Partners has launched a $10m fund focused on Stripe, the San Francisco, CA-based company led by Patrick Collison, CEO, that allows marketplaces on the Internet to accept payments and manage an online business.
The GC Stripe Platform Fund will invest in venture capital for businesses and applications built on the Stripe Connect platform (which enables businesses to connect their Stripe account and data with other services and start selling on different platform, integrate with their web analytics, or access their Stripe data on a mobile device).
The fund will primarily make investments from $250K to $500K in
– startups that are building valuable extensions to the Stripe platform and add value to other Stripe users; and
– marketplaces or platforms that are built atop Stripe Connect, such as BigCommerce or Lyft.
The first investment is a $500K investment in Baremetrics, which provides analytics on Stripe data for software-as-a-service businesses, including dozens of real-time metrics on monthly recurring revenue, lifetime value, run rate and churn.
FinSMEs
30/09/2014