SAN FRANCISCO—Stripe has acquired Lemon Squeezy, a start-up that offers a payments platform for software companies.
According to Fintech Futures, the deal marks the 14th acquisition made by Stripe since its inception in 2010 and arrives just over a year since it snapped up engineering analytics start-up Okay.
Founded in 2020 and launched publicly a year later, Lemon Squeezy operates as a merchant of record and offers software companies tools to automate functions like sales tax compliance, payments, subscriptions, billing, license management, email marketing and fraud prevention, among other things, Fintech Futures said.
$1 Million in Revenue Reported
The start-up claims to have surpassed $1 million in annual recurring revenue within nine months of its launch and has maintained a partnership with Stripe for payments processing since its inception, the report added.
Once the acquisition has been completed, Lemon Squeezy said it plans to it continue to work with its partner to “improve the merchant of record offering, bolstering billing support, building an even more intuitive customer experience, and more,” Fintech Futures said.