$20 billion tech firm Stripe is reportedly embroiled in an investigation into Trump's inauguration

Trump inauguration

Jim Bourg/Reuters

US President Donald Trump at his inauguration in 2017.

  • US President Donald Trump's inaugural committee got hit with a subpoena by federal prosecutors, according to The New York Times.
  • Investigators are demanding that the committee hand over documentation pertaining to Trump's lavish swearing-in ceremony.
  • Mentioned in the subpoena is Stripe, a buzzy Silicon Valley online payment company, worth $20 billion.
  • One of Stripe's notable investors is Josh Kushner, brother to the president's son-in-law Jared Kushner.

Stripe, a Silicon Valley online payment company which in September hit a massive $20 billion valuation, has become embroiled in an investigation into US President Donald Trump's inaugural committee, The New York Times reports.

Citing two people familiar with the inquiry, the Times said federal prosecutors issued a subpoena demanding that officials on the inaugural committee - which organised Trump's inauguration ceremony - hand over documents about donors, finances, and activities.Advertisement

They also requested all documents linked to contractors and vendors connected to the inauguration. $107 million was raised for Trump's inauguration, an unusually high amount which raised eyebrows at the time.

Read more: How Trump's inaugural committee spent the record $107 million worth of donations to celebrate his election

Accoring to the Times, the subpoena specifically asks for documentation on Stripe, which designed technology to help process credit card transactions.
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Although it's not immediately clear what exactly Stripe's involvement was, one of its notable investors is Josh Kusher, brother to Trump's son-in-law Jared Kushner.

Josh Kushner is the founder and managing partner of VC Thrive Capital, which sunk $30 million into Stripe in 2014. In the past, it has backed big players including Spotify, Twitch, and Instagram. Josh Kushner is not named in the subpoena and his spokesman declined to comment to the Times.Stripe's rise has been meteoric, it managed to more than double its valuation in two years. It originally had a reputation for working mostly with startups, but as it's grown in size, so have its clients.Advertisement

Business Insider contacted Stripe for comment.

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