Since its launch, Shopify Capital has provided $2 billion in funding to thousands of entrepreneurs in the U.S., U.K., and Canada.
The cash advances and loans have been important for many merchants during the global pandemic, helping them adapt and find new avenues of growth by allowing them to buy more inventory, hire talent, and launch marketing campaigns.
Previously, the scheme granted funds ranging from $200 to $1 million. Now they are increasing the maximum amount to $2 million to further boost the growth of their fast-scaling merchants. Through state-of-the-art machine learning models, eligible merchants can automatically receive Shopify Capital offers without having to apply. Upon accepting these pre-approved offers, they can receive funding within 2-5 business days. Merchants can choose how they want to invest their funds while maintaining complete ownership of their business.
“Machine learning is the reason we’re able to get our merchants the f
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