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Watch out, Paymill – Stripe finally hits Europe with UK beta Written by Charmaine Li on 1. March 2013



San Francisco-based payments startup Stripe has officially rolled out a closed beta of its platform in the UK today, marking its first foray in Europe. The UK beta enables GBP and USD payments in Visa and Mastercard with euros reportedly “coming soon”.

Earlier this month, rumours ran rampant that Stripe was running a UK beta to test out European markets. While many several employees tweeted about it, co-founder Patrick Collision at the time denied the claims.

Stripe was launched in late 2011 and founded by brothers Patrick and John Collision. Their service lets individuals and companies easily accept credit and debit card payments online. The startup charges a fee for each successful transaction but does not have any setup or monthly fees.

In Europe, Stripe’s largest rival is Paymill, a Rocket Internet-operated company that is present in 32 markets across the continent and raised an additional €4m in funding last month.

Stripe closed a $20m Series B round last July bringing the total funding to a whopping $38m. The startup is backed by Sequoia Capital, Redpoint Ventures, Peter Thiel and Elon Musk among others.

For related post, check out:

Paymill announces additional funding round amid rumours of Stripe’s global expansion
Paymill bags €10 million investment from Holtzbrinck Ventures and Sunstone Capital
Stripe clone Paymill expands across Europe