The average pay to workers at Stripe’s UK arm increased to £355,179 (€426,051) last year, mainly due to share based payments.
New accounts for the Collison brothers’ Stripe Payments UK Ltd show that after tax profits rose almost three fold to £41.62 million.
The UK arm of the global payments business- founded by brothers, John and Patrick Collison – returned a pretax profit of £24.29 million. On top of this, the firm recorded a corporation tax credit of £17.32 million.
Operating profits increased by 37 per cent from to £19.97 million, while revenues jumped from £527.8 million to £698.8 million.
The directors state that the increase in revenues is mainly due to an increase in processing related activity during the year.
The remuneration bill for the 278 employees last year totalled £98.74 million made up of £47.3 million in salaries and £51.43 million in “other compensation costs, including share based payments”.
The pay bill, including the shared based payment – works out at an average pay of £355,179.
Excluding the shared based payments, average pay totalled £170,159.
The numbers employed dropped from 307 to 278, The remaining staff were included 114 in sales and marketing, 63 in engineering, 51 in authorised payment services, 49 in administration and one in business operations.
Overall staff costs doubled from £57.4 million to £116.86 million when social insurance costs of £16.16 million and pension contributions of €1.9m are taken into account.
Last month, Axios reported that Sequoia Capital has completed an $861 million purchase of shares in Stripe, a transaction that values the payments company at $70 billion.
The profit at Stripe Payments UK Ltd last year also takes account of foreign exchange losses of £4.18m, operating lease expenses of £2.68m and non cash depreciation costs of £740,345.
Shareholder funds last year more than trebled from £43.26 million to £136.32 million.
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