Shopify Capital’s Funding Volume Continues to Surge

Shopify’s business lending and merchant cash advance division originated a whopping $477M in the first quarter of 2023. That’s up substantially from the $346.7M produced in the first quarter last year. Despite the continuous strong increase, Shopify Capital was not mentioned or even asked about during the company’s quarterly earnings call.

Shopify is a huge e-commerce business. The company generated $1.5B in revenue in Q1 and generated a net income of $68M.