Stripe, a Silicon Valley online payment company which in September hit a massive $20 billion valuation, has become embroiled in an investigation into US President Donald Trump’s inaugural committee, The New York Times reports.
Citing two people familiar with the inquiry, the Times said federal prosecutors issued a subpoena demanding that officials on the inaugural committee — which organised Trump’s inauguration ceremony — hand over documents about donors, finances, and activities.
They also requested all documents linked to contractors and vendors connected to the inauguration. $107 million was raised for Trump’s inauguration, an unusually high amount which raised eyebrows at the time.
Accoring to the Times, the subpoena specifically asks for documentation on Stripe, which designed technology to help process credit card transactions.
Although it’s not immediately clear what exactly Stripe’s involvement was, one of its notable investors is Josh Kusher, brother to Trump’s son-in-law Jared Kushner.
Josh Kushner is the founder and managing partner of VC Thrive Capital, which sunk $30 million into Stripe in 2014. In the past, it has backed big players including Spotify, Twitch, and Instagram. Josh Kushner is not named in the subpoena and his spokesman declined to comment to the Times.
Stripe’s rise has been meteoric, it managed to more than double its valuation in two years. It originally had a reputation for working mostly with startups, but as it’s grown in size, so have its clients.
Business Insider contacted Stripe for comment.
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