eCommerce growth platform Wayflyer secures $253mn debt financing from Credit Suisse
Update 21 March 2023: The sale of Credit Suisse to UBS does not affect Wayflyer’s ability to fund our customers. We have a diverse range of funding sources to protect against any single counterparty risk including a $300 million debt facility from J.P Morgan, a $150 million Series B equity raise, and a $76 million Series A equity raise. We also have separate off-balance sheet partners who will purchase over $1 billion worth of advances. We continue to use our capital from our lines of credit to offer our eCommerce customers funding, at the fairest and most competitive rates.
- The $200mn debt and $53mn mezzanine facility, increases Wayflyer’s origination capability as it continues to identify and support high-growth businesses wishing to improve liquidity and operational resilience
- Latest deal follows a $300mn debt financing deal with J.P Morgan in May 2022 and a successful series B funding round; valuing Wayflyer at $1.6bn
Atlanta / Dublin / London, 1st September 2022: Wayflyer, the revenue-based financing and growth platform for eCommerce businesses, has secured a $253mn debt financing facility from Credit Suisse.
Wayflyer will use the additional debt facility to support further origination, enabling it to quickly provide funding to eCommerce businesses helping them fuel growth, improve cashflow and drive sales. It will also allow Wayflyer to improve liquidity and support its ambition to offer the most competitive rates to its customers, in the U.S, and Western Europe.
Wayflyer is proud of the firm’s robust business model, its disciplined underwriting model and position as a leading partner to some of the largest financiers in the world. Wayflyer also agreed a $300m debt line with J.P. Morgan earlier this year.
Wayflyer specialises in providing funding to eCommerce businesses, helping them solve critical working capital problems that can constrain growth. By improving cash flow its customers are able to seize new opportunities such as acquiring additional stock, hiring talent or simply improving the profitability and resilience of their business.
Aidan Corbett, Co-Founder and CEO, Wayflyer comments: “Now, more than ever, eCommerce businesses need access to fair, flexible and affordable funding solutions from a trusted and resilient partner. “At a practical level, this deal helps support our objective to offer the fairest terms and the best rates to our customers while advancing Wayflyer’s unwavering commitment to being a trusted partner, irrespective of the impact of wider economic conditions on the market.”
To apply for funding or to find out more about how Wayflyer is helping eCommerce businesses, visit www.wayflyer.com.