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# Stripe processed almost $1 trillion in 2022
- URL: https://www.techloy.com/stripes-processed-payments-grew-26-percent-yoy-in-2022/
- Published: 2023-04-10T14:23:34.000Z
- Updated: 2023-04-10T14:23:34.000Z
- Author: Emmanuel Oyedeji
- Tags: / Fintech, Stripe, Business

Payment and fintech giant Stripe says it processed more than $817 billion in total volume in 2022, up 26% from the prior year in its [annual letter for 2022.](https://assets.ctfassets.net/fzn2n1nzq965/5Qj1NdQFtWO3rIE4WhAVl9/21202f8455f5a877444f91c1b48baf6e/stripe-2022-update.pdf)

According to the statement signed by its co-founders Patrick Collison and John Collison, Stripe processed more than $817 billion in total volume in 2022, up 26% from the prior year. The company added that its e-commerce segment grew 7% last year.

Per the released update, the payments processor also grew its client portfolio in the year. The total number of new businesses coming to Stripe increased by 19% in 2022, with an average of more than 1,000 new ventures launched every day, 55% of which were businesses based outside of the U.S., its largest market. Stripe also now supports businesses in more than 50 countries.

[Stripe raises $6.5 billion, cuts valuation to $50 billionPayments processing giant Stripe says it has raised $6.5 billion in a Series I funding round at a $50 billion valuation – down nearly 50% from two years ago. According to a company statement, the funding “will be used to provide liquidity to current and former employees and address employee![](https://storage.ghost.io/c/c1/a6/c1a6d111-d951-41ad-a392-c1e841210b93/content/images/size/w256h256/2021/07/techloy-dot.png)TechloyEmmanuel Oyedeji![](https://images.unsplash.com/photo-1556740720-776b84291f8e?crop=entropy&cs=tinysrgb&fit=max&fm=jpg&ixid=MnwxMTc3M3wwfDF8c2VhcmNofDQ5fHxTdHJpcGUlMjBwYXltZW50fGVufDB8fHx8MTY3ODk4MjcyMw&ixlib=rb-4.0.3&q=80&w=2000)](https://www.techloy.com/stripe-new-funding-valuation-50-billion/)

The company also claims it now has up to 100 companies that handle more than $1 billion in payments with Stripe every year. This set continues to grow rapidly, expanding by more than 50% each year since 2018.

This update comes at a time when the payment processor has slashed its valuation repeatedly. The company sharply reduced its valuation to $50 billion in its last $6.5 billion round led by existing and new investors in March, a steep decline from the $95 billion valuation in March 2021.

Stripe has not been immune to the layoff trend in the tech industry either, letting go of up to 14% (1,100) of its staff in November 2022, in a bid to cut operating costs.