HCG Fund Management LP ("HCG") has entered into an agreement to purchase loans facilitated by Shopify Capital, the capital arm of Shopify, Inc ("Shopify"). Shopify is a highly regarded leader in e-commerce, and the relationship will help support the democratization of credit access for thousands of small and micro online businesses across the US. Enabled by technology, the contemplated transactions will offer HCG the opportunity to assist Shopify in making commerce simpler, more participatory, and more accessible.
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Pictured are HCG Fund Management LP Co-Founders: Hadi Habal, Chief Executive Officer and Jose Penabad, Chief Investment Officer (Photo: Business Wire)
"We are excited to work with Shopify. Shopify's loan origination platform perfectly fits HCG's ecosystem of pioneering companies that facilitate lending activities to individuals and small companies. Because of Shopify's activity and foresight, many e-commerce companies today have access to credit, an essential ingredient for fostering the growth of small businesses, the engine of the US economy," says Jose Penabad, Co-Founder and CIO of HCG.
Through this relationship, HCG seeks to continue fulfilling its mission of transforming the future of finance and private credit through trust, innovation, and capital.
About Shopify
Shopify is the leading global commerce company that provides essential internet infrastructure for commerce, offering trusted tools to start, scale, market, and run a retail business of any size. Shopify makes commerce better for everyone with a platform and services that are engineered for speed, customization, reliability, and security, while delivering a better shopping experience for consumers online, in store and everywhere in between. Shopify powers millions of businesses in more than 175 countries and is trusted by brands such as Mattel, Gymshark, Heinz, FTD, Netflix, Kylie Cosmetics, SKIMS, Supreme, and many more. For more information, visit www.shopify.com.
About HCG
HCG is a leading private credit investment manager focused on small balance loans, typically originated from fintech companies. The firm actively seeks to transform the future of finance through trust, innovation and capital. Since inception, investment vehicles managed by HCG have invested over US$4.5 billion in small balance loans. HCG expands the opportunities for fintech companies through developing expert investment programs and sharing industry knowledge with the goal to deliver strong, risk-adjusted returns. For more information, visit www.hcgfunds.com.
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Contacts:
Jack Coogan Chelsea Locklear
919 300 7702
info@hcgfunds.com
