Integrations and partnerships are the paving the way forward for Thinking Capital. The Canadian alternative lender announced late last month that it was integrating with the Shopify App Store, a move that will make Shopify’s Canadian merchants eligible for financing of as much as $300,000. And this news, coupled with partnerships forged last fall with CIBC and this February with Staples, has produced what company Chief Strategy Officer, Anthony Lipschitz called “exciting times for Thinking Capital.”
“(It) is a testament to the reputation we are building in the Canadian alternative lending industry,” he said.
Pictured (left to right): Thinking Capital CTO Pat Forgione and CSO Anthony Lipschitz during their presentation, “Lending as a Service” at FinDEVr New York.
Merchants using Shopify in Canada will be able to apply for business financing from $5,000 to $300,000 via the Thinking Capital app. Financing decisions are made in real-time and merchants accounts are funded within 24 hours. Canadian businesses that have been in operation for at least six months are eligible to apply.
A presenting company at the inaugural FinDEVr New York developers conference last month, Thinking Capital has helped more than 10,000 Canadian SMEs secure financing. The company offers both merchant advances and term loans, and serves businesses in retail, hospitality, health and beauty, and automotive industries.Thinking Capital’s FinDEVr presentation last month led by Lipschitz and CTO Pat Forgione, “Lending as a Service,” focused on how companies decide whether to build, outsource, or customize their own fintech solutions.
Thinking Capital was recognized by Canada’s Best Managed Companies in 2015 and last fall was listed on Deloitte’s Technology Fast 50. The company is headquartered in Montreal, Quebec, Canada. Jeff Mitelman is CEO and co-founded the company with President, Peter Mazoff.