Stripe Capital first got off the ground in September 2019, offering customers and businesses financing options through its online platform. Stripe recently went live with the next phase in its business lending campaign, which enables online platforms to offer financing to their business customers through Stripe Capital. With traditional banks scaling back their lending to small businesses, Stripe is looking to step into that void, with rapid lending decisions based on data culled from a customer’s past performance on the platform.
“Mundane though it sounds, access to capital is the primary bottleneck that limits the growth and expansion of most small businesses,” Stripe Co-Founder and President John Collison tweeted Tuesday in the latest rollout by Stripe Capital. “So we built Capital for platforms: https://stripe.com/capital/platforms…. Help *your* customers grow faster by using our lending infrastructure.”