Total amount raised
$1.9 Billions
Latest funding date
Location
Wayflyer has successfully raised significant funding to support e-commerce businesses through its innovative financing platform. The company offers flexible funding solutions, ranging from $10k to $20m, tailored to the unique needs of e-commerce brands.
Keep reading to explore the intricacies of Wayflyer's fundraising journey and the investors backing this dynamic platform.
What Is Wayflyer?
Wayflyer, founded in 2019 by Aidan Corbett and Jack Pierse, is headquartered in Dublin, Ireland. The company specializes in providing revenue-based financing solutions tailored for e-commerce businesses.
Wayflyer offers flexible funding options ranging from $5,000 to $20 million, helping brands unlock their growth potential without the complications of traditional financing. The platform also provides free marketing analytics to optimize budget allocation.
With a team of 501-1000 employees, Wayflyer has rapidly grown to support over 4,000 brands worldwide, deploying more than $5 billion in funding to date.
How Much Funding Has Wayflyer Raised?
- Seed Round
- Amount Raised: $10.2M
- Date: October 2020
- Lead Investors: QED Investors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and develop the initial platform for e-commerce financing.
- Series A
- Amount Raised: $76M
- Date: May 2021
- Lead Investors: Left Lane Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and scale the platform to support more e-commerce businesses.
- Debt Financing
- Amount Raised: $100M
- Date: May 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide additional capital for funding e-commerce businesses.
- Series A
- Amount Raised: Not publicly disclosed
- Date: February 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and enhance service offerings.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: July 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and market expansion.
- Series B
- Amount Raised: $150M
- Date: February 2022
- Lead Investors: DST Global, QED Investors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen the financial position and drive profitability.
- Debt Financing
- Amount Raised: $300M
- Date: May 2022
- Lead Investors: JP Morgan
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel growth and provide flexible funding to e-commerce clients.
- Debt Financing
- Amount Raised: $253M
- Date: September 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To meet increasing demand for funding solutions.
- Debt Financing
- Amount Raised: $1B
- Date: September 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To offer competitive capital to e-commerce businesses, especially in the US market.
Total Amount Raised: $1.89B. Current Valuation: Not publicly disclosed.
Key Investors
- Neuberger Berman
- Details: Neuberger Berman is an investment management firm that partnered with Wayflyer to provide a $1 billion off-balance sheet program. This program allows Wayflyer to purchase up to $1 billion of assets, enabling it to offer competitive capital to its customers.
- Investment Focus Areas: E-commerce, technology, financial services.
- Notable Investments: Not publicly disclosed.
- J.P. Morgan
- Details: J.P. Morgan is a global financial services firm that provided a $300 million debt line to Wayflyer in June 2023. The firm supports Wayflyer's growth by offering access to fair, flexible, and fast funding for its e-commerce customers.
- Investment Focus Areas: Financial services, technology, healthcare.
- Notable Investments: Not publicly disclosed.
- DST Global
- Details: DST Global is a venture capital firm that led Wayflyer's $150 million Series B round in February 2022. The firm is known for investing in late-stage internet companies.
- Investment Focus Areas: Internet, technology, e-commerce.
- Notable Investments: Facebook, Alibaba, Spotify.
- QED Investors
- Details: QED Investors is a leading venture capital firm that led Wayflyer's seed round with a $10.2 million investment in October 2020. The firm focuses on investing in early-stage, disruptive financial services companies.
- Investment Focus Areas: Fintech, financial services, technology.
- Notable Investments: Credit Karma, SoFi, Avant.
- Left Lane Capital
- Details: Left Lane Capital is a venture capital firm that led Wayflyer's $76 million Series A round in May 2021. The firm focuses on high-growth internet and consumer technology companies.
- Investment Focus Areas: Consumer technology, internet, e-commerce.
- Notable Investments: GoStudent, M1 Finance, Tovala.
What's Next for Wayflyer?
Wayflyer stands at the cusp of significant growth, buoyed by a $1 billion off-balance sheet program from Neuberger Berman and a $300 million debt line from J.P. Morgan. These financial boosts position Wayflyer to capitalize on the burgeoning e-commerce sector, which is projected to reach $5.4 trillion by 2026. The company's innovative use of data analytics to make loan and repayment decisions further enhances its competitive edge.
Future fundraising opportunities seem promising, given the company's robust financial backing and the growing demand for reliable funding solutions in the U.S. market. However, challenges such as high failure rates among e-commerce businesses and competition from firms like Clearco and Uncapped could pose hurdles. Navigating these challenges while maintaining profitability will be crucial for Wayflyer's sustained success.
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