Wayflyer
| File:Wayflyer-logo-2024.svg | |
| 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 with a focus on consumer brands. 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 | edit source]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 | edit source]External links
[edit | edit source]References
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