Programmable financial services company Stripe today announced the upcoming launch of Stripe Capital in Australia.

The announcement was made at Stripe Tour Sydney, where the company showcased products leveraging AI and stablecoins, and reported that it’s now supporting over one million users across Australia and New Zealand.

Stripe Capital will provide eligible small and medium-sized businesses (SMBs) access to fast, flexible business financing through the Stripe platform, helping them invest in growth and manage cashflow.

“SMBs are the backbone of the Australian economy, but around half report difficulty securing funding,” said Karl Durrance, managing director, Australia and New Zealand at Stripe. “With the cost of business rising sharply in recent years, Stripe Capital can help businesses stay resilient amid economic uncertainty.”

Stripe Capital uses Stripe data, such as a company’s payments processing activity with Stripe, to provide pre-approved offers for financing. Once a business sees its offer approved, funds are disbursed into their accounts in typically one to two business days. Repayments are simple and made as businesses earn, with no compounding interest, late fees, or early repayment penalties.

Stripe Capital is expected to be available to Australian businesses in the coming months. Platforms using Stripe, such as me&u, will also be able to use Stripe Capital to extend financing offers to their customers.

Stripe supports many of the top companies in Australia and New Zealand, including Atlassian, Canva, and Xero. Globally, Stripe processes over $1.4 trillion of payments annually.