Quickbooks Capital: Another $1.3B Funded to Merchants, Has Protective Moat from AI

Intuit’s Quickbooks Capital originated $1.3B in business loans to its customers for its fiscal Q2 2026. The number was a repeat of the previous quarter but still puts them on a trajectory to surpass yet another rival (Shopify Capital) on originations in 2026.

Quickbooks users are presented a “button” in their Quickbooks software to obtain funding.

“We are switching that conversation from being a sales pitch to helping address a customer need,” said Intuit CFO Sandeep Singh Aujla during the latest quarterly earnings call. “As an example, our customer could have a payroll due tomorrow, but the invoice is not going to get paid till next week. With a click of a button, they can access the Capital loans. Payroll is done. The employees are paid. Employees are happy. Next week when the customers pay the invoices, the agent automatically pays down the debt.”

When an analyst raised a concern about their partnership with LLMs, Intuit said there was nothing to worry about because their data is not shared with the LLMs.

“Our moat comes from being the core of the flow of funds, whether it is access to capital, whether it is hours worked by the employees, whether it is money flow—that is not being touched by these LLMs,” said Aujla.