Shopify Capital Finishes 2025 With $4.2B in MCAs and Business Loans

Shopify revealed its full year MCA & business loan origination figures. $4.2 billion. That’s $1.2 billion over the previous year. Only 91.9% of these deals were considered “current” as of December 31, 2025. That’s down slightly from last year when 93.7% of deals were considered current at year-end.

For clarity, Shopify Capital offers funding in 8 total countries. The product is considered a value-add to its e-commerce platform and only offered to merchants who use it. Shopify Capital is in the same league as Square Loans and Enova in terms of origination volume.