Irish revenue-based financing platform for e-commerce businesses, Wayflyer has expanded into four additional European markets. The startup has now made inroads into Germany, Sweden, Belgium and Denmark and aims to deploy over $200 million across these markets over the next 12 months.
With this expansion, Wayflyer is now operational in 12 markets across North America, Europe and Australia and continues to expand worldwide. The Dublin-based unicorn is also planning to roll out in a number of new markets over the course of the next year.
The announcement comes on the back of its Series B raise of $150 million in February this year, and its recent debt financing deals with Credit Suisse and J.P. Morgan totalling $553 million.
Founded in 2019, Wayflyer helps e-commerce businesses reach their growth potential by providing a range of financing and analytics solutions that improve cash flow, drive sales and optimise supply chains. Its free analytics platform also analyses marketing performance on a daily basis, equipping eCommerce businesses with world-class analytics and tangible, granular recommendations designed to improve performance.
According to the company, the platform has funded close to 2,000 e-commerce businesses across 12 markets and has seen 552% year on year growth on the amount funded between Q2 of 2021 and Q2 of 2022.
Aidan Corbett, co-founder and CEO of Wayflyer said: “Amidst more challenging markets globally this year, the need among e-commerce businesses for flexible funding solutions from a resilient partner has never been greater. Germany, Sweden, Belgium and Denmark are all markets that have seen eCommerce sector booms over the past few years and we’re excited to be in a position to offer our current products and services to new customers there.”