CARNEY JOINS BOARD OF STRIPE AHEAD OF NEW FUNDING ROUND

Former Bank of England and Bank of Canada governor Mark Carney has been appointed to Stripe Inc.’s board amid reports the financial technology firm is preparing a new funding round.

“The very nature of commerce has changed over the past decade,” Carney said in a statement posted on Stripe’s website, seeing the internet as the engine for inclusive economic growth.

Carney, the UN special envoy for climate action, will help guide Stripe in its efforts to enable more businesses to bring funding to emerging carbon removal technologies.

The appointment, reported earlier by the Sunday Times, comes as Stripe prepares for a new primary funding round. Bloomberg reported in November the firm was is in talks to raise financing that would value Stripe at between US$70 billion and US$100 billion. Forbes reported last week the valuation would top US$100 billion in the funding round.