Fintech giant Stripe revealed in its annual letter published Wednesday that it surpassed $1 trillion in total payment volume in 2023, up 25% from 2022.
The milestone, which comes 15 years after the company was founded, offers a glimpse into the financials of one of the world's largest private companies and how fast it's growing. By comparison, PayPal surpassed $1 trillion in total payment volume in 2021, 23 years after it was founded.
Co-founders and brothers Patrick and John Collison attributed the growth to Stripe's enterprise business, fast-growing startups adopting its products, and billing and tax services.
"We spent a lot of time focusing on that top-line growth," Stripe president John Collison said in an interview with Andrew Ross Sorkin on "Squawk Box" that aired Wednesday.
"We spent all of last year with people predicting all manner of doom and gloom," he said, adding that "so far, consumer spending has held up real well."
