Stripe, a tech company that helps other companies build payments technology, has hired U.K. technology entrepreneur Andy Young to help drive Stripe's expansion in the United Kingdom and other markets.
"Online payments is something I'm strongly passionate about," Young said in a blog post about his new role. "I've become only too well acquainted with the difficulties, frustrations and red tape associated with getting set up to accept money online, not to mention the numerous tales of woe from friends battling the same issues in other startups."
Young was a founder of GroupSpaces, a group management startup.
Stripe competes with a number of companies that offer open tech development to other startups that wish to accept payments. Stripe, which charges 2.9% plus 30 cents per transaction, began testing its platform in the U.K. in March. Stripe provides an API for online and mobile payments, recurring billing support, stored payment credentials, instant activation and PCI compliance.
The company was founded in in 2012 by Patrick and John Collison, and is backed by Sequoia Capital and PayPal founders Peter Theil, Elon Musk and Max Levchin. Levchin's new mobile pay startup Affirm is a Stripe partner, and Stripe also recently partnered with MoonClerk, a startup that makes it easier for non-techies to accept payments.