Providing merchant cash advances to help entrepreneurs invest in
their business
Shopify
Inc. (NYSE:SHOP)(TSX:SH), the leading cloud-based, multi-channel
commerce platform designed for small and medium-sized businesses, today
announced Shopify Capital, a merchant cash advance product to help
entrepreneurs secure financing and accelerate their business growth.
“For many merchants, securing capital is a frustrating and
time-consuming process,” said Saad Atieque, Product Manager at Shopify.
“With Shopify Capital, we’re giving entrepreneurs a simple, fast, and
convenient way to secure financing to invest in their business. Similar
to our payments and shipping solutions, Shopify Capital represents one
more way Shopify can help entrepreneurs strengthen their business
operations.”
Most entrepreneurs and online businesses have a hard time securing
financing through traditional sources. Shopify is able to tailor cash
advances to each merchant’s needs, based on data processed through the
Shopify platform. Accessing this financing is designed to be as simple
as a few clicks, with money in the merchant’s account within a few days
of acceptance. Initially, Shopify Capital will be offered to eligible
merchants in the United States.
During the pilot program, merchants used Shopify Capital merchant cash
advances to buy equipment and inventory, launch new products, hire more
employees, and add new channels and products.
“Shopify Capital allowed us to invest in our own company without having
to borrow money from friends or raise funds from investors, possibly
giving up some equity,” said William Sulinski, Founder of Pistol Lake.
“Working with Shopify for our financing needs was a no-brainer because
we've trusted them with our business for over three years as our
commerce platform -- the core of our business -- and they've been the
best partner we could have asked for.”
For more information on Shopify Capital, please visit shopify.com/capital
About Shopify
Shopify is the leading cloud-based,
multi-channel commerce platform designed for small and medium-sized
businesses. Merchants use the software to design, set up and manage
their stores across multiple sales channels, including web, mobile,
social media, marketplaces, brick-and-mortar locations and pop-up shops.
The platform also provides a merchant with a powerful back-office and a
single view of their business. The Shopify platform was engineered for
reliability and scale, making enterprise-level technology available to
businesses of all sizes. Shopify currently powers over 243,000
businesses in approximately 150 countries and is trusted by big brands
including Tesla Motors, Budweiser, Red Bull, the LA Lakers, the New York
Stock Exchange, GoldieBlox, and many more.
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