Wayflyer
 | |
| Company type | Private company |
|---|---|
| Industry | Banking Commercial finance |
| Founded | 2019 |
| Founders |
|
| Headquarters | Dublin, Ireland |
Key people |
|
| Revenue | €62.5m (2023) |
| Website | wayflyer |
Wayflyer is an Irish non-bank lender and inventory finance company which was founded in 2019 in Dublin, Ireland. It provides finance through invoice discounting and factoring with a focus on revenue-based financing. The company lends mainly to e-commerce and technology based companies which generate income from advertising and non-recurring revenue streams.[1][2]
As of November 2024, it has offices in Dublin, London, New York and Sydney.
History
[edit]Wayflyer was established by Jack Pierse and Aidan Corbett in 2019 to provide alternative financing to technology companies. In May 2021, Wayflyer initially raised $76m in a Series A funding round lead by Left Lane Capital.[3][4] In February 2022, it was announced that Wayflyer had raised $150m in a Series B funding round lead by DST Global.[5] At that point Wayflyer was said to have become one of Ireland's few Unicorns.
In May 2022 Wayflyer, agreed a $300m debt funding round with JP Morgan while later in September 2022, it agreed a $253m debt funding round from Credit Suisse.[6][7][8]
In September 2022, Wayflyer was said to have approximately 1,500 clients globally and had provided over €1 billion of loans since its inception.[9] In 2023, the company recorded a €62.5m of revenue up from €36.33m in 2022.[10][11]
In 2024, Wayflyer expanded into financing of wholesalers for the first time and in November 2024 it was announced that it was Ireland's fastest growing tech company.[12][13]
See also
[edit]External links
[edit]References
[edit]- ^ "eCommerce Financing | About Us | Wayflyer". www.wayflyer.com. Retrieved 16 December 2022.
- ^ "Wayflyer beefs up team as it targets further global growth". The Irish Times. Retrieved 16 December 2022.
- ^ "VC Daily: VC Life: New Firm, New City". Wall Street Journal. 2 February 2022. Retrieved 16 December 2024.
- ^ Azevedo, Mary Ann (27 May 2021). "Wayflyer raises $76M to provide 'revenue-based' financing to e-commerce merchants". TechCrunch. Retrieved 16 December 2022.
- ^ Gain, Vish (1 February 2022). "Wayflyer flies way past $1bn valuation to become Ireland's latest unicorn". Silicon Republic. Retrieved 16 December 2022.
- ^ "Wayflyer Raises $253m from Credit Suisse in Latest Funding Round". businessplus.ie. 1 September 2022. Retrieved 16 December 2022.
- ^ Lunden, Ingrid (1 February 2022). "Wayflyer raises $150M on a $1.6B valuation for a new spin on providing loans to e-commerce merchants". TechCrunch. Retrieved 16 December 2022.
- ^ Halpin, Padraic (12 May 2022). "Wayflyer to fund rapid growth with $300 mln J.P. Morgan debt line". Reuters. Retrieved 16 December 2022.
- ^ "Wayflyer social media commercial whips up a storm". 8 September 2022. Retrieved 1 June 2023.
- ^ "Irish tech 'unicorn' Wayflyer records €77.34m loss". www.rte.ie. 11 December 2023. Retrieved 29 November 2024.
- ^ "Wayflyer losses increase more than threefold amid Irish tech firm's expansion". Irish Independent. 11 December 2023. Retrieved 29 November 2024.
- ^ "Wayflyer eyes profitability as turnover soars and losses halve amid strategic expansion". www.businesspost.ie. Retrieved 25 November 2024.
- ^ "Wayflyer named as fastest-growing technology company in Deloitte's annual ranking". The Irish Times. Retrieved 29 November 2024.