Wayflyer has financed companies for 2 billion dollars
Irish ecommerce financier Wayflyer has renewed a 300 million dollar (276.7 million euros) debt line. It is currently deploying 2 billion dollars (1.84 billion euros) to more than 3,000 ecommerce business globally.
Wayflyer was founded in Dublin in 2019. It has offices in the United States, Australia and across Europe. In 2021, the company expanded to Spain and the Netherlands. It provides funding to ecommerce businesses, in the form of revenue-based financing.
3,000 ecommerce businesses received funding
Now, the company has renewed its debt line from J.P. Morgan of 300 million dollars. The company has already funded 3,000 ecommerce businesses with a total of 2 billion dollars. Most of those loans are a form of stock financing and financing for online marketing. “Now more than ever, ambitious ecommerce businesses need the support of trusted partners to fulfill their growth potential”, says Aidan Corbett, Wayflyer co-founder and CEO.
‘There is still a huge market opportunity for online merchants.’
“Despite the global macroeconomic headwinds of the last 12 months, there is still a huge market opportunity for online merchants, with revenues for US online retail hitting 1 trillion dollars for the first time in 2022. This renewed vote of confidence from one of the world’s largest and foremost financial institutions will allow us to help even more ecommerce businesses seize this opportunity, and gives us a huge boost in a market where other providers are losing their access to credit.”