Irish ecommerce financier Wayflyer has renewed a 300 million greenback (276.7 million euros) debt line. It’s presently deploying 2 billion {dollars} (1.84 billion euros) to greater than 3,000 ecommerce enterprise globally.
Wayflyer was based in Dublin in 2019. It has workplaces in the US, Australia and throughout Europe. In 2021, the corporate expanded to Spain and the Netherlands. It offers funding to ecommerce companies, within the type of revenue-based financing.
3,000 ecommerce companies obtained funding
Now, the corporate has renewed its debt line from J.P. Morgan of 300 million {dollars}. The corporate has already funded 3,000 ecommerce companies with a complete of two billion {dollars}. Most of these loans are a type of inventory financing and financing for on-line advertising. “Now greater than ever, formidable ecommerce companies want the help of trusted companions to meet their progress potential”, says Aidan Corbett, Wayflyer co-founder and CEO.
‘There may be nonetheless an enormous market alternative for on-line retailers.’
“Regardless of the worldwide macroeconomic headwinds of the final 12 months, there’s nonetheless an enormous market alternative for on-line retailers, with revenues for US on-line retail hitting 1 trillion {dollars} for the primary time in 2022. This renewed vote of confidence from one of many world’s largest and foremost monetary establishments will enable us to assist much more ecommerce companies seize this chance, and provides us an enormous enhance in a market the place different suppliers are shedding their entry to credit score.”