Payments startup Stripe is doing a lot more than payments these days. Last week the fintech company announced it raised $250 million in its latest funding round that includes Andreessen Horowitz, General Catalyst and Sequoia, all previous investors. Founded in 2010, the companys total in venture capital raised to date is $1 billion which also includes investors like Visa, Kleiner Perkins and CapitalG. As a result of this Series F round of funding, Stripe has been valued at $35 billion, an increase of $15 billion in the last year, reports Business Insider. The company does not have any immediate plans to take the company public.

Stripe said it will use the capital to fuel growth in three key areas: accelerating international expansion, growing its product suite and extending its enterprise capabilities. Stripe has already been expanding into new markets. It recently launched in eight additional European countries (Estonia, Greece, Latvia, Lithuania, Poland, Portugal, Slovakia, and Slovenia) and expects to expand to more in the coming months. By year end, Stripe will be available in 40 countries, covering 70% of the global economy. Additional launches are planned for next year.

Central and Eastern Europe has a lot of entrepreneurial and technological talent, and we believe even more of its companies could be expanding globally, said Felix Huber, Head of Central and Eastern Europe, Middle East, and Africa, at Stripe in a September 9 news release. Stripe aims to empower more companies from this region to export their creativity and ambition to the rest of the world.

In addition to existing products and services including Connect, Billing, Terminal and Radar, Stripe announced two new products: Stripe Capital and Stripe Corporate Card, ushering the company into the world of lending and credit. Stripe Capital, currently available to U.S. Stripe customers, is a program that makes it faster and easier for online businesses to get the money they need to fund their companies.

Rather than go through a traditional bank loan application process, businesses apply online to Stripe. If approved, they could get their funding as quickly as the next business data. Businesses who borrow repay the funds to Stripe as they get paid with a fixed percentage of daily sales. There are no recurring interest charges or late fees since the payments are automatic.

Stripe Capital makes it easy for internet businesses to get the funds they need, when they need them, said Will Gaybrick, Stripes Chief Product Officer. Its important to think about financial inclusion not just in terms of consumers, but also in terms of businesses. Businesses, especially small businesses and startups, are the engines for job creation in our economy. It should be trivially simple and lightning fast for them to access the capital they need to smooth their cash flow and invest in their own growth.

The Stripe Corporate Card is a Visa credit card to simplify business spending and accelerate growth for online businesses. In addition to easy creation of a corporate card, businesses get insights to control their spending. They can set spending limits, block spending categories or purchases, get real-time expense reporting for prompt reconciliation, integrations with financial software like Quickbooks and Expensify, 2% back on its top two spending categories each month, and no fees. No annual fees, late fees or card replacement fees.

Processing hundreds of billions of dollars a year for millions of businesses, Stripe wants to expand its enterprise capabilities.

Even now, in 2019, less than 8% of commerce happens online, said John Collison, president and co-founder of Stripe. Were investing now to build the infrastructure thatll power internet commerce in 2030 and beyond. If we get it right, we can help the internet fulfill its potential as an engine for global economic progress.

Insider Take:

Stripes new valuation of $35 billion is big news. This valuation surpasses SpaceX, valued at $31.5 billion, AirBNB, valued at $31 billion, and Palantir valued at $25 billion, according to Pitchbook. Its owners – Irish brothers Patrick and John Collision – are taking it in stride. In a Business Insider article, they said they will celebrate briefly when the funding round officially closes and then theyll go back to work. They have a mission to make it easier for online companies to do business, and despite their obvious successes, they believe they have a long way to go.