Shopify Partners with Export Development Canada on Shopify Capital
September 20 2016 - 8:00AM
Business Wire
Shopify Inc. (NYSE:SHOP)(TSX:SH), the leading cloud-based,
multi-channel commerce platform designed for small and medium-sized
businesses, today announced that it has entered an agreement with
Export Development Canada (“EDC”) to insure merchant cash advances
offered by Shopify Capital.
“Our partnership with EDC supports the continued growth of
Shopify Capital,” stated Brett O’Grady, Head of Treasury and Risk
for Shopify.
“Shopify is a dynamic, globally minded Canadian exporter and a
national tech champion,” said Stephen Callaghan, Regional
Vice-President, Ontario, Export Development Canada. “Shopify’s
innovative services and products make it easier for small Canadian
businesses to engage in trade and manage their cash flows.”
Shopify Capital was launched earlier this year to help
entrepreneurs secure financing and accelerate their business
growth. Many entrepreneurs and online businesses have a hard time
securing financing through traditional sources. Shopify is able to
tailor cash advances to a merchant’s needs, based on data processed
through the Shopify platform. Accessing this financing is designed
to be as simple as a few clicks, with money in the merchant’s
account within a few days of acceptance. As of June 30, Shopify
Capital has advanced over $5 million to participating merchants
since the program’s inception. For more information on Shopify
Capital, please visit shopify.com/capital.
About ShopifyShopify is the leading cloud-based,
multi-channel commerce platform designed for small and medium-sized
businesses. Merchants use the software to design, set up and manage
their stores across multiple sales channels, including web, mobile,
social media, marketplaces, brick-and-mortar locations and pop-up
shops. The platform also provides merchants with a powerful
back-office and a single view of their business. The Shopify
platform was engineered for reliability and scale, making
enterprise-level technology available to businesses of all sizes.
Shopify currently powers over 300,000 businesses in approximately
150 countries and is trusted by big brands including Tesla Motors,
Budweiser, Red Bull, the LA Lakers, the New York Stock Exchange,
GoldieBlox, and many more.
About EDCEDC is Canada’s trade finance agency, providing
financing and insurance solutions locally and around the world to
help Canadian companies of any size respond to international
business opportunities. As a profitable Crown corporation that
operates on commercial principles, EDC works together with private-
and public-sector financial institutions to create greater capacity
for Canadian companies to engage in trade and investment. For more
information about EDC, visit www.edc.ca.
SOURCE: Shopify
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ShopifyMEDIA:Sheryl So, 416-238-6705 x 302Public Relations
Managerpress@shopify.comorINVESTORS:Katie Keita,
613-241-2828Director, Investor RelationsIR@shopify.com
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