In the dynamic world of e-commerce, securing reliable funding solutions is a top priority for businesses striving to thrive in today's economic landscape. Amidst this quest, an Irish trailblazer, Wayflyer, has emerged as a beacon of hope, offering a groundbreaking revenue-based financing and growth platform for e-commerce enterprises, with a notable focus on the vast US market.
Wayflyer is now set to take a significant stride forward by embracing an off-balance sheet program. Under this initiative, the company will acquire assets valued at up to a staggering $1 billion from investment management firm Neuberger Berman, enhancing its ability to provide competitive capital solutions to its clients while meeting the surging demand within the US e-commerce sector.
This pivotal development builds upon Wayflyer's recent achievement, securing a renewed $300 million debt line from J.P. Morgan in June 2023. These strategic financial moves, combined with a robust $150 million Series B funding round, underscore Wayflyer's financial prowess and its unwavering commitment to fostering growth, positioning the company for success well ahead of its profitability goals.
Zhengyuan Lu, Managing Director at Neuberger Berman, emphasizes the immense growth potential of the global e-commerce sector and the innovative value that Wayflyer brings to the table. He expresses excitement in partnering with Wayflyer, recognizing it as the preferred growth partner for ambitious e-commerce enterprises.
Aidan Corbett, co-founder and CEO of Wayflyer, underscores the trust bestowed upon them by their customers. He views the $1 billion off-balance sheet asset purchase as a testament to the company's strength, success, and resilience. It bolsters their mission to empower e-commerce clients to flourish in any economic climate, providing not just funding but also invaluable e-commerce expertise.
Founded in 2019 by Aidan Corbett and Jack Pierse in Dublin, Wayflyer's core mission revolves around resolving the most pressing challenges faced by burgeoning e-commerce enterprises. They tackle critical working capital obstacles that often hinder growth, unleashing the potential for expansion, talent acquisition, and improved profitability.
Additionally, Wayflyer's unique and complementary analytics platform conducts daily marketing performance assessments. It equips e-commerce businesses with world-class analytics and actionable recommendations, poised to elevate their performance to new heights.