Shopify Capital Originates $837M in Business Loans & MCAs in Q3

Shopify Capital originated $837 million in business loans and merchant cash advances in Q3, putting the grand total at $2.1B for the first 3 quarters. During the earnings call, Shopify said that loss ratios remained within the consistent range.

Compared to some of their competitors in the online space, Shopify Capital ranks third:

Q3 originations:
Square Loans: $1.38B
Enova: $1B
Shopify Capita: $837M