Stripe launches instant loan service

Friday 6 September 2019 11:41 CET | News

Starting first in the US, Stripe has launched Stripe Capital, a loan service for its customers.

According to Tech Crunch, the launch of Stripe Capital is part of the company’s aim to diversify into other financial services, specifically with the launch of its first business credit card product.

Stripe Capital is being made available both to direct customers of Stripe’s and to business customers of platforms and marketplaces that use Stripe Connect. The platform and marketplace customers will have access to Stripe Capital, being able in turn to also offer Stripe Capital-based cash advances to their customers.

Stripe expects the typical amount for the loans to be around USD 10,000 and USD 20,000.

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Keywords: Stripe, US, instant loan, marketplace, Stripe Capital
Countries: World