Stripe acquires TaxJar in multimillion dollar deal

Online payments company Stripe has acquired TaxJar, a leading provider of sales tax software for internet businesses in a multimillion dollar deal.

No financial details of the deal have been publicly disclosed but TaxJar had a post-market evaluation of $179 million (€148 million) in 2019, according to Pitchbook.

The deal comes just a day after Stripe once again participated in a funding round for Step, a US mobile banking start-up aimed at teenagers, and was named among Time’s 100 most influential companies.

Stripe said TaxJar will help internet businesses comply with an ever-growing list of sales tax requirements. It said alongside its Billing and Radar products that TaxJar will “become a pillar of Stripe’s revenue platform.”