Payment technology company Stripe Inc. announced today that it has raised an additional $600 million in new funding as an extension of its Series G round from September to accelerate its international expansion, grow its product suite and extend its enterprise capabilities.

The extension on the round was on the same terms, with a valuation previously reported to be $35 billion. The additional funding came from Andreessen Horowitz, General Catalyst, GV and Sequoia Capital.

Founded in 2010, Stripe processes payments on the websites of its customers while also offering complementary services for e-commerce customers. Those services expanded rapidly over the last year with the launch of chargeback protection, a cash advance service and a corporate card offering Sept. 10.

The timing of the funding in the middle of the COVID-19 pandemic is notable and was addressed directly by Stripe in its announcement of the additional funding.

“While the full economic impact of COVID-19 remains uncertain, several years of offline-to-online migration are being compressed into several weeks,” Stripe said. “The current disruption underscores the need for reliable, easy-to-use infrastructure for internet businesses. In this context, Stripe’s mission — to grow the GDP of the internet — means providing an on-ramp to the digital economy for businesses around the world.”

Stripe continues to add customers in 2020, with new clients including Caviar LLC, Coupa Software Inc., Just Eat Ltd., Keap, Lightspeed POS Inc., Mattel Inc., the National Broadcasting Co. and Hashtag Paid Inc. since the beginning of the year. But the big one is arguably Zoom Video Communications Inc.

Zoom has become the No. 1 app of the coronavirus pandemic as millions are forced to work from home to prevent virus contagion. Although Zoom has had no shortage of issues along the way, using Stripe for its payments won’t be one of them. Zoom charges various sums for additional features such as support for more than 100 participants in a videoconference. All of those payments are now going through Stripe.

Stripe also said it was working with customers during the pandemic on areas such as fast-tracking support for telemedicine providers, simplifying the steps involved in launching a business on Stripe, helping established companies pivot to the internet and elastically scaling capacity for businesses using Stripe amid an unprecedented surge in online purchases.

“People who never dreamt of using the internet to see the doctor or buy groceries are now doing so out of necessity,” Stripe co-founder and President John Collison said in a statement. “And businesses that deferred moving online or had no reason to operate online have made the leap practically overnight. We believe now is not the time to pull back, but to invest even more heavily in Stripe’s platform.”

Including the new funding, Stripe has raised $1.635 billion to date.

Image: Stripe