Multi-billion dollar payments start-up Stripe is expanding its global footprint with its first office in Latin America.
, makes software that allows businesses to accept payments over the internet. The platform has helped facilitate the rise of mobile and e-commerce with partners like Shopify, and has become an attractive bet for venture capital as consumers overwhelmingly shop online. Stripe'shas surged to $22.
"Our goal is to make sure that the internet works the way it was intended to — it should be global, and it should be borderless," Alvarado told CNBC in a phone interview. "There's a very rich ecosystem for us in Latin America." Stripe already operates in 34 countries and has engineering hubs in San Francisco, Seattle, Dublin and Singapore. It has been on a tear this year with expansions into Estonia, Poland, Greece, Lithuania, Latvia and Malaysia. Stripe said it plans to work with newer start-ups in South and Latin America, as well as incumbent partners like Visa, Mastercard, American Express and CitiBank., who came up with the idea for Stripe while attending MIT and Harvard.
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