Today, leading cloud-based, multi-channel commerce platform Shopify Inc. announced that it has completed a deal with Export Development Canada (EDC) to insure Shopify Capital’s merchant cash advances.
“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 launched earlier this year, in order to support entrepreneurs in finding secure financing. Here are some key facts about the new company: