Stripe, the e-commerce startup, Tuesday announced it has raised $70 million in a new funding round to put the company's valuation at $3.5 billion. The company, which was founded by a pair of brothers in 2009, was worth $1.75 billion in January.

Bloomberg reported that Stripe's current funding round comes from new and exisiting investors. Previous investors inude venture capital firms Founders Fund, General Catalyst, Sequoia Capital and Khosla Ventures. The new kid on the block this time around is Thrive Capital, according to Bloomberg.

Stripe's recent focus has been on mobile commerce, as it was named an initial Apple Pay partner. The company is also behind Twitter's Buy button and is working with Alibaba's payment division, Alipay.