Shopify Capital is officially launching in Australia, giving Australian merchants access to quick and easy funding up to $2.5 million AUD.
This new accessibility to more funding options for Australian businesses comes as concerns about inflation, consumer spending, cash flow and supply chain challenges are at an all time high. It is more important than ever that businesses remain agile, especially as Aussie merchants prepare their for the upcoming peak sales season.
Access to funding has traditionally required business owners to jump through hoops for something that should be quite easy. Now we can quickly access funding through the same platform I already use to run my business and don’t have to think about repayments as they’re automatically made as a portion of each sale.
“The first round of funding helped to quickly boost supplies to support the opening of our first studio space in inner-city Perth, and we’ve since repaid the first round and accessed an additional round to fast-track the opening of three new studios across the city.
– Tracey Jewel, Manager, Batherapy
Why Shopify Capital?
Shopify research found that while 62% of Australian merchants are comfortable seeking funds to invest in their business, two-thirds (67%) are deterred by high interest rates and more than half (53%) are turned off by lengthy application processes and timeframes.
Shopify Capital isn’t traditional financing. There’s no lengthy application process and we don’t do personal credit checks, take equity in the business or ask merchants for cash flow projections. Instead, merchants receive offers up to $2.5 million AUD through the same Shopify platform they already use to run their store. Essentially, Shopify Capital fills the gap that traditional lenders generally cannot satisfy by providing businesses with the funding they need without the frustration.
We couldn’t be more proud to support Australian businesses with everything they need to build strong brands for customers here and around the world.
At the same time, Australian businesses are concerned about the increasing cost of capital, inflationary pressures impacting margins, and declining consumer confidence impacting sales. Shopify Capital is remitted only when a sale is made, so Australian merchants can be confident that they can afford to invest in their businesses.
– Shaun Broughton, APAC Managing Director, Shopify
