The ecommerce finance platform Wayflyer has raised and started employing $300 million in funding. It has obtained them through debt granted by the world leader in financial services JP Morgan and with the performance of Neuberger Bermann as a provider of mezzanine debt.
The line of credit helps Wayflyer increase its power and market share. This is because it continues to support a global market of over 300,000 online businesses in need of fair, flexible and affordable financing. In addition, the funds reduce Wayflyer’s cost of capital, allowing it to offer the most competitive rates in the market to e-commerce businesses in the United States, Western Europe and Australia.
The news comes shortly after Wayflyer announced its Series B round in February 2022. The equity round, which was coordinated by DST Global and QED Investors and also participated by JP Morgan, took Wayflyer’s valuation to 1,600 million dollars, after raising 150 million. Both the credit line and the Wayflyer Series B round allow the company to continue its high growth trajectory. They will continue to offer online businesses the best financial conditions, experience and advice so that they can develop their full potential.
Wayflyer and JP Morgan, united to offer the most competitive rates in the market
Aidan Corbett, CEO and co-founder of Wayflyer, commented: “With e-commerce revenue set to reach $5.4 trillion by 20221, competitively priced financing solutions are needed more than ever. The $300 million of debt financing we have secured, which is coming in part from JP Morgan, will help us seize this opportunity.. They will allow us to offer the most competitive rates in the market to more effectively help ambitious e-commerce companies realize their growth potential.”
“We have focused on ways to continually support our e-commerce customers with their business and working capital needs.. With Wayflyer, we can supply structured credit and help our e-commerce clients build credentials within this asset class.” Indian Stuart Roberts, Global Head of Business and Working Capital at JP Morgan. “This will be one of many innovations in e-commerce structured credit by JP Morgan.. We seek to innovate within the sector and provide capital to our clients, who face high growth rates and need reliable capital to meet demand.”
