$300m debt facility grows Wayflyer’s origination capability and its market share by meeting funding demand from over 300,000 eCommerce merchants
Funding allows Wayflyer to offer eCommerce businesses the most competitive rates on the market
The debt facility comes a month after Wayflyer’s Series B round, where J.P. Morgan participated, which saw it raise $150m equity at a post-money valuation of $1.6bn
ATLANTA & DUBLIN & LONDON, May 12, 2022 –( BUSINESS WIRE )– Wayflyer , the revenue-based financing and growth platform for eCommerce businesses, secured and began deploying $300m in debt financing from global financial services leader J.P. Morgan, with Neuberger Bermann acting as a mezzanine provider.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220512005069/en/ Wayflyer co-founders Jack Pierse (L) and Aidan Corbett (R) (Photo: Business Wire)
The debt facility helps Wayflyer increase its origination firepower, and market share, as it continues to support a global market of over 300,000 eCommerce businesses demanding fair, flexible and affordable funding. The funds also reduce Wayflyer’s cost of capital, enabling it to offer the most competitive rates in the market to eCommerce businesses across the U.S, Western Europe and Australia.
The news comes shortly after Wayflyer announced its Series B round in February 2022. The all-equity round, co-led by DST Global and QED Investors, with J.P. Morgan as a participant, saw Wayflyer’s valuation hit $1.6bn after $150m was raised. Both the debt financing line and Wayflyer’s Series B round enables the company to continue on its high-growth trajectory, offering eCommerce businesses not only the best financial terms, but also the expertise and advice that can help them reach their potential.
Aidan Corbett, Wayflyer CEO and Co-Founder commented: “With eCommerce revenues set to hit 5.4 trillion US dollars in 2022 1 , the need for competitively priced funding solutions is greater […]
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