Giving eCommerce businesses access to the funding they deserve
December 5, 2022
When we founded Wayflyer, our goal was to help eCommerce businesses grow and break through the barriers they face as they scale.
The first step in our mission was to create a funding solution tailored to eCommerce so that our services offered something better than what was already available. We've worked tirelessly over the last two years to achieve this goal. To create a solution that’s simple, fast, and flexible.
We’re proud to have already provided hundreds of millions of dollars in funding to brilliant eCommerce businesses. But we’re always striving to find ways to better support remarkable founders that are building high-growth brands.
The next step in our mission has been to make this funding available at even more incredible rates.
Well-established, traditional companies can get access to funding at extremely low rates from large financial institutions. But this has never been available to eCommerce businesses. The core of our mission has always been to offer our customers better terms so they may grow more effectively but do that at incredibly attractive rates. Today, we take that next step in our journey.
Wayflyer has successfully secured a $300m credit facility from J.P. Morgan, a world-leading bank.
The agreement changes nothing about the way we do business, but by casting our net more widely, we can reduce our cost of capital. In real terms, this means better rates for customers and more flexibility on our funding terms.
What does this mean for Wayflyer customers?
The global eCommerce market continues to grow, with global revenues set to hit $5.4 trillion in 2022.
But, eCommerce founders today are faced with an increasingly challenging environment:
- The cost of marketing has risen dramatically
- Supply chain delays are wreaking havoc on inventory levels and planning
- More and more brands are launching every year, making the landscape competitive
As a result, finances are squeezed in every direction.
Helping our customers to thrive, even in the toughest climates, is something we’re focused on every day. And with this new financial agreement, we can promise to always give you the best possible rates when taking funding from Wayflyer.
To be clear, as a Wayflyer customer, your relationship always has been and always will be directly with us, not any of our financing partners.
We’re already a trusted partner to over 1,000 brands across the globe, and we have so many more plans to keep innovating to meet their needs and those of many others to come. With more capital behind us, we can support more fearless entrepreneurs demanding fair, flexible, and affordable funding.
We have plans to invest billions of dollars to help eCommerce businesses thrive in the years ahead and are very proud to be working with a partner like J.P. Morgan to make this happen.
P.S. If you are an eCommerce business looking to take your growth to the next level, let’s chat about how we can help.