Stripe industry sharing

2024-05-18 16:34

Experience

Stripe is hurting startups! 😡

Without prior warning or a valid explanation, Stripe abruptly closed our account just now, citing an "unacceptable level of risk". (Fig. 1 & Fig. 2) Despite our repeated attempts to seek clarification and resolve the issue, they have remained unresponsive, leaving us in a precarious situation.

Reflecting on our performance, it's evident from Fig. 3 that our track record boasts exceptionally low dispute and refund rates, coupled with negligible instances of fraud. This data speaks for itself, debunking any accusations levied against us.

Regrettably, our case is not an isolated incident. Numerous startups and business owners have voiced similar grievances on Google Maps, highlighting a concerning pattern of behavior from Stripe. (Fig. 4 ~ Fig. 10)

We implore Stripe to address this matter promptly and transparently. Stripe, James Lau, Douglas Ong, Janell Chu, Jeanne DeWitt Grosser, Kristine Muromachi, Lilian Rogers, Eva Sheehan, Maia Josebachvili, William Alvarado, Bob van Winden, Claire Hughes Johnson, Chirag Murarka, Jasmine Liew, Stafford Houston, Meghan Grady, Matt Klineman, Hemant Taneja, Luciana Lixandru...

Our livelihoods are at stake, and the lack of accountability is unacceptable. We urge them to reconsider their actions and provide a resolution within 24 hours. Failure to do so will leave us with no choice but to escalate this as legal matter to relevant authorities.

It is crucial for the entrepreneurial community to stand together and demand fair treatment from financial partners like Stripe. Our businesses deserve better, and it is time for Stripe to uphold its commitment to supporting startups and fostering growth in our ecosystem.