After Dublin-based revenue-based financing platform Wayflyer raised $150 million in an all-equity Series B funding round to join the unicorn club at a $1.6 billion valuation in February, the startup is inching up to expand its presence in the influencer marketing space. It has now acquired creator funding provider Peblo.
The new buy will enable individual creators to access up to $2 million in financing, and expects to advance over $500 million to creators over the next year.
Founded in 2019, Wayflyer offers financing and analytics solutions to e-commerce businesses. Following the deal, Peblo will remain a standalone brand and its team of six will join Wayflyer's team.
There are around 2 million creators globally earning an average of $100,000 each per year. These creators often have to wait up to 120 days to get paid by their partnering brands, which restricts their ability to grow their business. Peblo solves this pain point by providing funding to creators, plugging the gap between upfront cost and client payment. Customers are able to view invoices, brand deals and outgoings on an easy-to-use platform. By enabling creators to pay expenses and increase their spend on content, the platform allows them space to pursue more ambitious brand deals and accelerate their growth.
Peblo will also be able to efficiently connect influencers with relevant e-commerce brands through Wayflyer’s platform, making the process of selecting and brokering influencer agreements seamless.
Wayflyer CEO and co-founder Aidan Corbett said: “By 2026, there will be an expected 15 million influencers worldwide, so the creator market is one that is too fast-growing for us to ignore. This acquisition means both online brands and the creators they partner with to market their products will benefit from our underwriting, funding and marketing analytics. The most exciting part of this acquisition for us is that it allows us to offer our customers a direct link to the best-suited creators that can help their business thrive.”
Peblo CEO and co-founder Jake Browne added: “Content creators are largely ignored in financial services, and by leveraging Wayflyer’s incredible resources we will now be able to change that.”