Whoa, QuickBooks Capital Shoots Up in Business Loan Originations

Intuit’s fiscal year ending July 31, 2024 revealed a stunning detail, $2.4B in financing through QuickBooks Capital over 12 months. This was up 28% from the prior year. That number likely puts Intuit’s business loan volume ahead of Shopify’s but that’s still less than Enova and Square. Customers of QuickBooks Capital can apply for financing by clicking a button right in their QuickBooks software.

QuickBooks Online accounting revenue grew 17% in Q4 and 19% in fiscal 2024, the company reported. Intuit has the advantage of many related QuickBooks services slowly merging into one such as payments, payroll, capital, and Mailchimp. Intuit also owns Credit Karma.