Stripe, an online payment processing platform, recently confirmed that James Phillips has joined the company as President of Financial Services. Phillips, who previously founded startups like Couchbase, aims to facilitate Stripe's expansion.
The newly appointed President of Financial Services is joining the company from Microsoft where he served for more than 10 years. During his time at Microsoft, Phillips led the Digital Transformation Platform Group.
Stripe has expanded its team significantly in the past few years. In 2020, the fintech company announced the appointment of Dhivya Suryadevara, the former CFO at GM, as its Chief Financial Officer.
Commenting on the appointment, Patrick Collison, the CEO of Stripe, said: “James brings a rare mix of experience as a software engineer, repeat entrepreneur and experienced enterprise leader. He drove tremendously impressive product development and innovation at Microsoft. More broadly, his empathy for users, from startups to the world’s largest companies, will help him as he guides our teams in solving critical business problems for millions of organizations.”
Stripe is one of the most valuable financial startups in the world. In March last year, the company raised $600 million in a funding round and received a valuation of $95 billion.
Stripe’s Portfolio Expansion
The recent appointment news of Phillips came on the back of Stripe’s strong efforts for its portfolio expansion. In the past few years, Stripe has launched Capital, Treasury, Billing and Issuing, among other products.
“The economy is undergoing a fundamental shift, as organizations adapt their business models to fully take advantage of software, mobile, machine learning and the internet: companies are building stronger relationships with their consumers, expanding internationally, distributing financial services and automating their supply chains. Stripe is ideally positioned to serve as the engine behind these opportunities,” said Phillips.
Last year, Stripe also announced its official launch in the UAE.
