Case Study: Shopmonkey achieves faster payouts and 30% payment volume growth with Stripe

Shopmonkey provides auto repair shops with access to millions in loans with Stripe

Shopmonkey, a SaaS platform for auto shop management, partnered early with Stripe to help repair shops accept digital payments and manage finances from one system. As it expanded, Shopmonkey faced challenges common in the auto repair industry: thin margins, slow access to funds, limited financing options, and the need for easier ways to accept multiple payment methods while reducing fraud and operational burden.

To address this, Shopmonkey implemented Stripe Instant Payouts, Stripe’s Optimized Checkout Suite, Stripe Terminal, Stripe Capital, Stripe Radar, and Stripe Sigma. With Stripe, auto shops now access funds in as little as 30 minutes, BNPL users spend more than double the average order value, and payment volume from Capital borrowers has grown 30%. Shopmonkey has also facilitated more than 1,400 loans totaling nearly $54 million and used Stripe Sigma to help mitigate about $125,000 in monthly dispute costs.

Shopmonkey

Crissy Watkins

Director of Payments