Wayflyer secures $253 million in debt financing

E-commerce finance platform based in Ireland Flyer secured a $200 million debt financing facility (plus $53 million in mezzanine) from Credit Suisse.

Wayflyer would use the additional credit facility to support the creation of new sources, allowing it to quickly provide financing to e-commerce businesses to help fuel growth, improve cash flow and boost sales. It will also allow Wayflyer to improve its liquidity and support its goal of offering the most competitive rates to its customers, in the United States and Western Europe.

Wayflyer plans to use the additional credit facility to fuel its service portfolio that creates funding for e-commerce businesses. The improved liquidity triggered by the investment allows Wayflyer to adjust its prices and attract more customers in its main markets, the United States and Western Europe.

This strategy is supported, according to the company’s press release, by the estimate that e-commerce industry revenues are expected to reach $6.2 trillion by 2023 and that demand for affordable financing continues to grow. even more than it has increased so far in the last two years.

Wayflyer’s Third Funding This Year

In May 2022, Wayflyer secured and began deploying $300 million in debt financing from JP Morgan. At the time, the company said the funds would reduce Wayflyer’s cost of capital, again emphasizing its desire to provide more competitive pricing for e-commerce businesses in the United States, Western Europe and Australia.

The news came shortly after Wayflyer announced its Series B round in February 2022. The all-equity round, co-led by DST Global and QED Investors, with JP Morgan as a participant, saw Wayflyer’s valuation reach 1.6 billion USD after 150 million USD. raised. Along with the $76 million seed round in May 2021, the startup also secured $100 million in debt to provide funding.

The importance of e-commerce loans

E-commerce finance is a financing solution that provides loans to e-commerce businesses. Loan facilities focused on online retailers are intended to help online sellers grow, cover marketing expenses and increase sales. E-commerce financing is primarily used by online sellers to stabilize cash flow and meet payment obligations.

Wayflyer primarily focuses on use cases such as inventory finance, marketing finance, and analytics support. Their strategy is supported, according to the company’s press release, by the estimate that e-commerce industry revenues are expected to reach $6.2 trillion by 2023 and demand for affordable financing continues to grow. even more than it has increased so far in the last two years.

Shopify data supports these claims, global e-commerce sales are expected to reach $5.5 trillion worldwide in 2022. This number is expected to continue growing over the next few years, proving that e-commerce is becoming an increasingly lucrative option for businesses. In this context, e-commerce finance is a natural by-product of the growth of this trend.

Learn more about Wayflyer’s services

Founded in September 2019, Wayflyer offers a range of finance and analytics solutions that improve cash flow, drive sales and optimize supply chains.

Through its non-dilutive and unsecured capital offering, eligible businesses have the ability to secure advertising space and inventory. The company also offers an analytics platform that analyzes marketing performance on a daily basis, as well as a one-stop shop for scalable working capital and data-driven insights to spend their capital.

Carol M. Barragan