Tech

Stripe forecasts profit of $100m this year after $80m loss in 2022

Fintech founded by brothers Patrick and John Collison is seeking new funding as it considers a public listing and is on track to process $1 trillion in payments

Patrick Collison, chief executive of Stripe and John Collison, president of the fintech: late last year, the firm announced plans to slash 14 per cent of its workforce, equivalent to 1,000 employees. Picture: Bloomberg

Stripe, the fintech founded by Patrick and John Collison, has told potential investors it will turn a profit this year and is on track to process $1 trillion (€932.8 billion) in payments as it seeks new funding while it considers a public listing.

The payments giant forecast adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) of $100 million this year, Bloomberg reported. That compares with a loss of about $80 million in 2022, when ...