Irish start-up Wayflyer raises $76m in Series A funding round
Revenue-based financing and growth platform, Wayflyer, has raised $76m in its Series A funding round.
New funds will support Wayflyer’s product development
The investment was led by venture capital firm Left Lane Capital with support from partners of DST Global, QED Investors, Speedinvest and Zinal Growth, the family office of Guillaume Pousaz (founder of Checkout.com).
The equity raise comes just 14 months after Wayflyer launched its first product.
The firm has already deployed over $150m of funding across its three core markets – the US, the UK and Australia.
Led by co-founders Aidan Corbett and Jack Pierse, Wayflyer helps eCommerce merchants grow their business by providing a range of financing and marketing analytics solutions that help them access working capital, improve cash flow and drive sales.
By delivering both access to capital and business critical insights, the company supports its customers by addressing many of the structural challenges eCommerce merchants face as they scale.
With eCommerce sales expected to hit $4.2 trillion in 2021, funds from the round will be used to support Wayflyer’s product development and international expansion.
The business is set to enter multiple new markets in the coming months.
Wayflyer has also expanded its debt facilities by an additional $100m and recently signed a partnership with Adobe Commerce in a move that will further increase its capital deployment capabilities.
Aidan Corbett, Wayflyer CEO, says: “We exist to help eCommerce businesses grow, and reduce the traditional barriers they face as they scale.
“The number of direct-to-consumer brands launching every day continues to amaze us and we’re excited about the next stage of our mission to become the go-to-growth platform for merchants looking to realise their potential.”
Related: Goldman Sachs leads $45m funding round in auto finance specialist MotoRefi
