Stripe, the payments giant that was once valued at $95 billion, is nearing completion of a secondary share sale that would value the company at approximately $70 billion, according to multiple sources familiar with the transaction.

The deal represents a significant recalibration from the company's peak 2021 valuation, but positions Stripe favorably compared to other fintech companies that have seen even steeper declines.

The secondary transaction would allow existing shareholders, including employees with vested equity, to sell a portion of their holdings to a consortium of investors including Sequoia Capital, Andreessen Horowitz, and new investor Thrive Capital.

"This is a reset that reflects the new reality of fintech valuations," said one investor close to the transaction. "But at $70 billion, Stripe is still the most valuable private fintech company in the world by a significant margin."

The company has been profitable on an operating basis since 2023, processing over $1 trillion in payments annually. Its newer products, including Stripe Atlas for company formation and Stripe Climate for carbon removal, have shown strong growth.

A potential IPO remains on the table for 2025, though executives have emphasized they are under no pressure to go public given the company's profitability and strong cash position.