Business

Former Bank of England president joins the board of digital payments company Stripe

Mark Carney worked for 13 years at Goldman Sachs Bank, with offices in London, Tokyo, New York and Toronto. (AP photo)

London: Mark Carney, the former head of the British and Canadian central banks, joined the board of directors of US digital payments company Stripe Inc, days after it was reported that the company was planning an initial financing round valued at more than US $ 100 billion.

“Strappe, which is regulated in multiple jurisdictions and partnered with dozens of financial institutions around the world, will benefit from Mark Carney’s extensive experience in global financial systems and governance,” the company said on Sunday, confirming a report by the Sunday Times.

Forbes magazine had reported on Wednesday that investors were valuing Stripe at $ 115 billion in secondary market transactions.

A senior Stripe executive told Reuters in December that the company plans to expand throughout Asia including Southeast Asia, Japan, China and India.

The company offers products that allow merchants to accept digital payments from customers and a range of business banking services.

Stripe raised $ 600 million in April as an extension of the G Series Tour and was valued at the time $ 36 billion.

Consumer-facing fintech companies saw a boost during the Covid-19 pandemic, as people stayed at home to avoid contracting the virus and increasingly manage their finances online.

Carney, who headed the Bank of England and Bank of Canada, had 13 years at Wall Street Bank, Goldman Sachs Group Inc., with offices in London, Tokyo, New York and Toronto.

He is the UN Special Envoy on Climate Action and Finance.

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