# Revenue-Based Financing Analogues Platforms that already see a borrower's cash flow can lend against it. Music royalty financing is one case of this pattern. - **Shopify Capital.** Shopify offers cash advances to its own merchants. It prices them from the sales data it already holds. Repayment comes as a share of daily sales. - **MNT-Halan (Egypt).** A fintech that lends to people and small businesses with thin credit files. It is a reference for pricing high-risk, low-data borrowers. ## The shared pattern - The lender sits on the payment rail, so it sees the cash first. - It prices from its own data, not from a credit bureau. - Repayment is a share of revenue, so it falls when revenue falls. - A music distributor fits the same shape. See [[Royalty Financing Is Specialty Finance]]. > [!todo] To research > - Unit economics and loss rates of Shopify Capital, where public. > - How MNT-Halan prices thin-file risk. > - Other invoice and revenue financing models in the Middle East and the US. ---- tags: #boat links: [[Music Royalty Financing MOC]] [[Services Improve Creditworthiness]] [[Decentralized Lending]]