FinTech startup Stripe will offer loans to its existing users.
In Brief:
The company helps businesses accept online payments.
It launched Stripe Capital on Thursday whereby loans will be available for existing Stripe customers.
The focus at the moment will be on loans worth $10,000-$20,000.
What does this mean?
Stripe is going after the SME market which has proved fruitful for FinTech lending – but it has the potential to expand the service to its larger customers, such as Amazon.com, in the future.
