Revenue-Based Financing Providers Compared
Once you've decided revenue-based financing fits your situation, the next question is which provider — here's how the three major e-commerce-focused options actually differ.
Figures below last checked against public third-party provider comparisons on October 9, 2026. None of these three providers publishes a fixed public rate card — every quote is underwritten individually, so treat the ranges here as a starting point for a conversation, not a guarantee.
New to revenue-based financing as a category? Start with our breakdown of how it works and what it costs before comparing specific providers below.
Side-by-Side Comparison
| Provider | Typical Fee | Funding Cap | Repayment Term | Best Fit |
|---|---|---|---|---|
| Wayflyer | ~5–10% of advance (often 5–7% for established DTC brands) | Up to $20M | 3–9 months | Multi-channel sellers wanting the highest funding ceiling |
| Clearco | ~6–12% of advance | Up to $10M | Varies by draw; typically a few months | Sellers who want a repeatable, draw-as-needed facility |
| Shopify Capital | Fixed fee set per-merchant from your Shopify sales data; often runs higher than Wayflyer or Clearco on an annualized basis | Typically a few hundred thousand dollars for most merchants | Set automatically based on your sales pace | Shopify-only sellers who want the fastest, most automatic approval |
Wayflyer vs. Clearco — Both Multi-Channel, Different Ceilings
Wayflyer and Clearco both underwrite off connected sales, ad, and payment data rather than a credit file, and both work across multiple sales channels rather than locking you into one platform's ecosystem. The practical difference shows up at scale: Wayflyer's published funding cap runs meaningfully higher, which matters once a brand has outgrown a six-figure facility and needs seven figures in a single advance. For a smaller or newer brand, the two are close enough in typical fee range that the better fit usually comes down to your own underwriting quote rather than a structural difference between the companies.
Shopify Capital — Convenience, Priced Into the Fee
Shopify Capital's advantage is automatic eligibility and offer generation directly inside your Shopify admin — no separate application, no connecting accounts to a third party. That convenience tends to come at a cost: because the fee is set per-merchant from Shopify's own data without the competitive underwriting Wayflyer or Clearco apply, third-party reporting has found effective annualized costs on Shopify Capital advances running higher than comparable Wayflyer or Clearco offers. It's worth checking your in-admin offer against a Wayflyer or Clearco quote before accepting, even though doing so takes more effort than clicking "Accept" in Shopify's dashboard.
🎯 How to Actually Decide
Get quotes from more than one provider before accepting any single offer — the fee each one proposes depends on their own underwriting of your specific sales data, so the "typical" ranges above can vary meaningfully once you apply. If you're Shopify-only and want the fastest path, start with your in-admin Shopify Capital offer, but don't accept it without checking a Wayflyer or Clearco quote against it first.
Frequently Asked Questions
Can I use more than one of these providers at once?
Most RBF agreements restrict taking on additional revenue-based financing while an advance is outstanding, since a second facility competing for the same daily sales complicates both providers' repayment. Confirm your specific agreement's terms before applying elsewhere.
Do any of these require a personal guarantee?
Generally no — underwriting is based on business revenue data rather than personal credit, so a personal guarantee is often not required. Terms vary by provider and advance size, so confirm directly before signing.
How does this compare to a merchant cash advance?
These three providers are purpose-built for e-commerce and underwrite more narrowly around verified store and ad data than the broader merchant cash advance market, which includes a much wider range of providers and, in some cases, much less favorable terms. See our full merchant cash advance breakdown for that comparison.
See how revenue-based financing stacks up against MCAs and 0% APR cards as a category decision →
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This is informational, not financial advice. Vendor terms, card offers, and bureau reporting policies change, and a general guide can't account for your specific credit history or business situation. Confirm current terms directly with the issuer or vendor before applying. See our editorial policy for how we verify what we publish.