Shopify Capital Originated $430 Million in Loans and MCAs in 2019

Shopify Capital, the e-commerce giant’s small business financing arm, originated $430 million in funding through loans and merchant cash advances in 2019. Shopify now has more than 1 million e-commerce merchants on its platform, the company says. Earlier in the year the company began rolling out funding to merchants that are not using its payment service.

Though 2019 year-end reporting for the industry is still sparse, the company’s origination figures will likely cause Shopify to move up the rankings maintained by deBanked.

PayPal, who deBanked predicts will keep its #1 spot, did not disclose its annual origination figures in its already-reported Q4 earnings.