Stripe to buy fintech focused on instant money movement

Stripe has agreed to buy Orum.io, a New York fintech that builds infrastructure to allow for instant money movement across U.S. financial institutions.

Stephany Kirkpatrick, who founded Orum in 2019, announced the sale in a LinkedIn post. The price wasn’t disclosed.

“After thoughtful consideration, it became clear that we have a rare opportunity to accelerate Orum’s mission and greatly increase our impact by becoming part of Stripe,” she wrote. “Alongside Stripe’s world-class team, we will continue our shared mission to power a better financial system where everyone has the freedom to build to their own potential.”

Orum had raised about $92 million since its founding, including $56 million in June 2021 in a Series B round co-led by Canapi Ventures and Accel.

Stripe has been acquisitive, buying Privy earlier this year and stablecoin platform Bridge in 2024.