Payments group Stripe and private equity firm Advent International have made a joint offer to acquire PayPal at a valuation of more than $53bn, according to Reuters. The proposal is unusually well funded, backed by around $50bn in committed financing from banks, and was submitted earlier this month following an initial overture in April.

Under the terms, Stripe and Advent would jointly own PayPal, each holding an equal stake. Advent has long treated fintech as a core theme, having agreed to take Canadian payments group Nuvei private in a $6.3bn deal in 2024. Partnering with Stripe, valued at about $159bn, gives Advent access to one of the sector's most active strategic acquirers.

PayPal's market capitalisation peaked at roughly $360bn in 2021 before sliding to around $36bn earlier this year, with the stock down more than 40% over the past 12 months. The company has grappled with slowing growth, competition from Apple Pay and Google Pay, soft profit guidance for 2026, and replaced CEO Alex Chriss with former HP executive Enrique Lores.

Nothing has been agreed yet. Advent declined to comment, while PayPal and Stripe did not immediately respond. News of the offer sent PayPal shares up sharply, rising as much as 16% in premarket trading.