The programmable Stripe Financial Services company announced today the upcoming Stripe Capital launch in Australia.
The announcement was made at the Stripe Tour Sydney, where the company introduced products that use AI and Stablecoins and said it now supports over a million users across Australia and New Zealand.
Stripe Capital will provide eligible access to small and medium -sized enterprises (SMB) to fast, flexible funding of businesses through the stripe platform, helping them invest in growth and manage cash flows.
“MMBs are the backbone of the Australian economy, but about half of it report difficulty in securing funding,” said Karl Durrance, CEO, Australia and New Zealand in Stripe. “At the cost of businesses increasing sharply in recent years, Stripe Capital can help businesses remain durable in the midst of economic uncertainty.”
Stripe Capital uses Stripe data, such as a Company’s Payment Editing Activity, to provide pre-empted funding offers. Once a business sees its offer approved, the funds are disbursed in their accounts typically one to two business days. The repayments are simple and made as businesses earn, without interest, delayed pay or penalties for premature repayment.
Stripe Capital is expected to be available in Australia’s businesses in the coming months. Stripe platforms, such as Me & U, will also be able to use Stripe Capital to extend funding offers to their customers.
Stripe supports many of the leading companies in Australia and New Zealand, including Atlassian, Canva and Xero. Worldwide, Stripe is processing over 1.4 trillion payments per year.