Stripe Expands Startup Tools With Atlas, For Foreign Companies To Incorporate In Delaware
Stripe today took a big step ahead in its bid to offer more services to startups, beyond the basic payment services it already provides. The company today unveiled a new platform called Atlas, a platform to let startups to incorporate more easily in the U.S., specifically in Delaware with services that include incorporation, share issuance, adding directors, setting up bank accounts and (of course) Stripe payment accounts.
Atlas — which launches today as an invite-only beta, was announced today by Patrick Collison, co-founder and CEO of the company, on stage at MWC in Barcelona.
Atlas will start with U.S. incorporation but will over time provide “more hubs” so that businesses can incorporate wherever it “makes sense for them to register,” Collison said.
The idea here is for Stripe to expand its touch points with startups to build out its bigger payments business, as well as increase its revenues per customer, while at the same time addressing one of the bigger pain points that startups have in building out their businesses, especially into the U.S. if they are based outside of the country.
“Startups in these markets can be up and running in a matter of days,” Collison said on stage today. “They can do things that matter rather than struggling to overcome barriers to entry.”
Or, as one founder from the startup Platzi put it, “You don’t have to be an insider in Silicon Valley to grow a startup.”
As part of Atlas, Stripe has announced partnerships with several organizations. They include Silicon Valley Bank for financing, Orrick for legal corporation affairs, PWC for tax guidance, and AWS for cloud services. Companies that use AWS as part of it get $15,000 in free services.
Collison said that the company has already seen “a lot of demand” for Atlas when sounding out startups ahead of this. The company will also be working with what he described as “a global network” of accelerators, incubators and others to identify startups to become a part of the program. These include 500 Startups, Startupbootcamp, Telefonica’s Wayra, the VC Atomico and others. You can see the full list so far here.
More to come.
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