Shopify announced a new program Wednesday aimed at strengthening its merchants’ businesses.
Shopify Capital is a cash advance product that, for now, is only available to eligible merchants in the United States. The e-commerce juggernaut said on its website there are plans to expand the program in the coming months.
“For many merchants, securing capital is a frustrating and time-consuming process,” Shopify product manager Saad Atieque said in a statement. “With Shopify Capital, we’re giving entrepreneurs a simple, fast and convenient way to secure financing to invest in their business.”
OBJ360 (Sponsored)

A new signature event is set to grace the Ottawa business and philanthropic calendar this summer. CHEO Foundation and the prestigious The Royal Ottawa Golf Club are proud to announce

Matching donations matters: How local companies help enable life-saving care for children in need
Self-storage company Access Storage is proud to support healthy communities where its employees work and live – and in the case of Ottawa, that means joining a host of other
The company said it will tailor cash advances to its merchants’ needs, based on data it obtains through the Shopify platform. After a few clicks and a few days, the money will be in the merchant’s account.
Shopify is basically offering to buy merchants’ future receivables at a discount. Merchants will pay a percentage of their daily sales until they have covered the total amount of receivables Shopify purchased.
Shopify Capital recently completed a pilot program that saw eligible merchants use the funds to invest in equipment and inventory, launch new products and hire more staff.