Shopify Capital Issued $87.8M in Merchant Cash Advances in Q1

Shopify’s small business funding division, Shopify Capital, issued $87.8 million in merchant cash advances in the first quarter of 2019, according to the company’s earnings report. The figure is a 45% increase over the same period last year. Overall, the company has funded more than $535 million in MCAs since inception.

Shopify is primarily an e-commerce platform, but they are quickly becoming a competitor to both Square and PayPal, both of whom also offer funding solutions.