Programmable financial services company Stripe has announced the launch of Stripe Capital for customers and partners in the region of Australia.
Following this announcement, Stripe Capital is set to provide eligible small and medium-sized businesses (SMBs) access to fast, flexible, and secure business financing through the Stripe platform, aiming to optimise the manner in which they invest in growth and manage cashflow.
In addition, the company will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
More information on Stripe Capital’s launch in Australia
According to the official press release, Stripe Capital was developed in order to use Stripe data, such as a company’s payment processing activity with Stripe, in order to provide pre-approved offers for financing. Once a business sees its offer approved, the funds will be disbursed into its accounts in typically one to two business days. At the same time, repayments are set to be simple and made as businesses earn, with no compounding interest, late fees, or early repayment penalties.
In addition, Stripe Capital is expected to be available to Australian businesses in the coming months. Platforms that are currently using Stripe will also be able to use Stripe Capital to extend financing offers to their customers.
According to a new study from YouGov and Stripe, Australian businesses remain optimistic about technology adoption. The research finds that 70% of Australian decision makers surveyed have already integrated AI into their operations, and, with this in mind, the launch is expected to optimise the customer experience and accelerate the overall development of SMBs in the financial landscape.
