The Hustle

Which startups have seen the biggest valuation gain in 2020?

Stripe is eyeing a $100B valuation with its new funding round. Even without it, the fintech firm has seen the biggest valuation step-up in 2020.

November 27, 2020

In 2010, a startup with the not-so-great name /Dev/Payments was trying to disrupt the payments space.

After a fortuitous name change to Stripe and a decade of incredible execution, that same fintech firm — founded by brothers Patrick and John Collison — is eyeing a new funding round that will value it at $70B-$100B.

Even before any new funding, Stripe already tops the leaderboard for the biggest startup valuation “step-up” (increase) in 2020.

Per private data firm Pitchbook, its $850m Series G Stripe raised in April valued it at $36B, a gain of $13.5B from its previous round.

A total of ~$78B has been pumped into 2.5k+ late-state companies…

…through September of this year. Pitchbook notes that the big winners are in fintech and “lockdown-friendly” names.

Here are the other top valuation step-ups so far in 2020*:

(*If a startup has multiple step-ups, we highlight the most recent)

  1. Stripe (fintech): From $22.5B to $36B (+$13.5B step-up)
  2. SpaceX (space): From $35.8B to $46B (+$10.2B)
  3. Chime (fintech): From $6B to $14.5B (+$8.5B)
  4. Instacart (delivery): From $13.8B to $17.7B (+$3.9B)
  5. Hashicorp (dev tools): From $1.9B to $5.3B (+$3.4B)
  6. Doordash (delivery): From $12.7B to $16B (+$3.3B)
  7. Better (fintech): From $0.9B to $4B (+$3.1B)
  8. Robinhood (fintech): From $8.7B to $11.7B (+$3.0B)
  9. TalkDesk (SaaS): From $0.5B to $3.1B (+$2.6B)
  10. Marqeta (fintech): From $1.9B to $4.3B (+$2.4B)

The big takeaway for us: it’s eminently possible to recover from a bad first name.

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