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Revenue-based financing and growth platform for ecommerce businesses, Wayflyer has secured and began deploying $300 million in debt financing from global financial services leader J.P. Morgan, with Neuberger Bermann acting as a mezzanine provider.
The debt facility helps Wayflyer continue 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 across the US, Western Europe and Australia.
The news comes shortly after Wayflyer announced its Series B round in February 2022, which saw Wayflyer’s valuation hit $1.6 billion after $150 million was raised. Both the debt financing line and Wayflyer’s Series B round enables the company to continue its high-growth trajectory.
Wayflyer CEO and co-founder, Aidan Corbett commented, “With ecommerce revenues set to hit US$5.4 trillion in 2022, the need for competitively priced funding solutions is greater than ever. The $300 million debt financing we’ve secured and partly deployed from J.P. Morgan will help us seize this opportunity and enable us to offer the most competitive rates in the market to help ambitious ecommerce businesses realise their growth potential.”
Feature image: Wayflyer co-founders, Aidan Corbett and Jack Pierse.
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