According to CNBC, Stripe has raised a $600 million Series H funding round that lifts its valuation to $95 billion.

Investors in the new series H round include Allianz, Fidelity, Sequoia Capital and Ireland's National Treasury Management Agency (NTMA). Previous investors include Tesla CEO Elon Musk, Peter Thiel, and Alphabet's late-stage investing arm, Capital G, among others.

Stripe is a technology company that builds economic infrastructure for the internet. Businesses of every size-from new startups to public companies-use the firm's software to accept payments and manage their businesses online.