Stripe, a San Francisco-based electronic payments firm, has raised $100 million in funding from Tiger Global Management, putting the company's valuation at $22.5 billion, according to Stripe spokesman Ted Ladd.

Ladd confirmed that the funds will be used to accelerate the company's international expansion; to grow the capabilities of its global payments and treasury network; and to grow operations.

A funding round in September 2018 was used for similar purposes. In that effort, the company raised $245 million from Tiger Global, Sequoia and DST Global.