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This article was provided by eCom News.
Wayflyer, an Irish company that offers financing to ecommerce companies, has raised 62 million euros. The funding comes just 14 months after the startup launched its first product. Wayflyer wants to enter multiple new markets in the coming months.
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According to Wayflyer, the fact it raised so much money so soon after its launch, confirms its status as one of the fastest growing fintech startups in Europe. Over the past six months alone, business grew 290 percent.
This funding round was led by Left Lane Capital, with support from partners of DST Global, QED Investors, Speedinvest and Zinal Growth, the family office of Checkout.com founder Guillaume Pousaz.
Wayflyer says it will use the fresh funding to support its product development and international expansion. In the coming months, the Irish company wants to enter several new markets. Currently, its core markets consists of the US, the United Kingdom, and Australia.
Its core markets are the US, UK and Australia.
Partnership with Magento
To deal with the demand for its cash advance product, Wayflyer has expanded its debt facilities by an additional 82 million euros. It also recently signed a major partnership with ecommerce software provider Adobe Commerce (formerly known as Magento Commerce).
Wayflyer was founded by Aidan Corbett and Jack Pierse in 2020. The company provides a range of financing and marketing analytics solutions that help businesses access working capital, improve cash flow and drive sales. “We exist to help ecommerce businesses grow, and reduce the traditional barriers they face as they scale”, CEO Corbett adds.
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