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Peer2Peer Finance News | August 19, 2019

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Bitbond becomes partner of payment platform Stripe

Bitbond becomes partner of payment platform Stripe
Rebecca Goodman

BLOCKCHAIN-BACKED peer-to-peer lender Bitbond has become a partner of payment platform Stripe, which will help it access more business borrowers. 

Bitbond, which is based in Berlin, connects individual and institutional investors with small business owners in need of working capital loans.

Read more: Blockchain P2P lender launches institutional funding vehicle

Stripe provides online payment technology. Businesses ranging from start-ups to public companies like Salesforce and Facebook use the company’s software to accept online payments and support their financial operations, in more than 100 countries.

Bitbond joins a number of firms including alternative finance providers Funding Circle, Iwoca and Clearbanc as a verified partner of Stripe. This agreement gives Bitbond and the other partners a listing on Stripe’s partners gallery on its website, giving them exposure to Stripe’s clients.

Furthermore, the partners can use Stripe’s payments software on their own platform and Stripe will provide marketing advice and co-branded marketing resources for its partners if required.

“Bitbond joining Stripe’s partnership program is the next step forward for e-commerce businesses,” said Radoslav Albrecht, founder and chief executive officer of Bitbond. 

Read more: Hollywood films to be funded by blockchain technology

“Together, Bitbond and Stripe create a more integrated experience, to provide financing for online merchants.” 

Bitbond is the first German-regulated financial services provider that uses blockchain technology.

Before he founded Bitbond, Albrecht worked for Deutsche Bank London in sales and trading and Roland Berger Strategy Consultants.

Earlier this year Bitbond announced it was launching Bitbond Flex, a product which lets borrowers ‘top up’ their existing loan, giving them additional funds quickly, and enabling them to decrease their monthly repayment amount by extending the duration of their current loan.