Ignition, a practice management software provider, and Stripe Capital have expanded their partnership to make more than US$150m (€129m) (A$217.62m) in growth financing available to eligible accounting and bookkeeping practices in the United States and Australia. The programme is designed to support firms investing in technology, workforce expansion and operational development.

International Accounting Bulletin reported that eligible businesses can apply for funding ranging from US$2,000 (€1,720) to US$150,000 (€129,000). The financing is intended to support projects including artificial intelligence adoption, staff recruitment and digital systems upgrades.

The expanded programme is available to Ignition customers with supported ledger integrations and aims to connect billing, payments, accounting workflows and access to capital through a single ecosystem. Eligibility is assessed using business performance and payment history rather than traditional lending criteria.

According to the companies, the financing option is intended to offer a faster and more straightforward alternative to conventional business loans. They also said the programme provides rapid access to funds, a simplified qualification process and flexibility for firms investing in future growth.

Greg Hatcher, vice-president of Ignition Payments, said: "Over the last several years, Ignition has helped firms solve one of their biggest operational challenges: getting on-time payments through automated billing."

He continued: "Firms are looking to invest in AI, modernise their operations, attract top talent and build more scalable businesses. Expanding capital across the US and Australia gives firms another powerful tool to help turn those growth ambitions into reality."

Stripe Capital said the collaboration is intended to address financing challenges faced by smaller professional services firms seeking to invest in growth initiatives.

Amit Sagiv, product lead at Stripe Capital, said: "We hear consistently from our SMB customers that access to financing is a primary obstacle to growth."

He added: "By partnering with Ignition, we are making it easier for eligible firms to access financing based on their business performance and put that capital to work where it matters most, whether that is expanding their teams or scaling their operations."