Wayflyer secures $1bn in asset financing from Neuberger Berman to back e-commerce firms.
Neuberger Berman provided a $1bn off-balance sheet asset purchase programme to support online merchants.
≈ £800M at $1 = £0.8001 on 6 Sep 2023
Wayflyer provides working capital solutions and analytics for e-commerce brands, helping founders scale their businesses without giving up equity.
Wayflyer has secured a $1bn off-balance sheet asset purchase program from Neuberger Berman to expand its financing capabilities for e-commerce merchants. The new capital facility will enable the company to maintain competitive pricing on its capital offerings while meeting strong demand, particularly in the US market.
The transaction follows a $300m debt facility secured from J.P. Morgan earlier in the year. Together with previous funding rounds, the arrangements highlight the platform's financial capacity as it moves toward profitability.
Founded in Dublin, Wayflyer combines capital advances with a daily analytics platform designed to evaluate marketing performance and liquidity needs for online retailers.
From the founder
"Our customers come back to us again and again as a trusted partner that not only provides access to funding but also the eCommerce expertise needed to fuel their growth ambitions. This $1bn off-balance sheet purchase of assets from Neuberger Berman demonstrates the power, success, and resilience of our proposition and will provide the capital firepower for us to ensure our eCommerce customers can continue to thrive in any economic conditions."
Aidan Corbett
CEO and Co-founder at Wayflyer
Investor perspective
"The global eCommerce sector is expected to continue growing rapidly in the coming years. We’re always looking for innovative partners that provide genuine value in the space and have been thoroughly impressed by Wayflyer’s model and experienced team. We’re thrilled to partner with Wayflyer on its mission to be the growth partner of choice to ambitious e-commerce businesses."
Zhengyuan Lu
Managing Director, Neuberger Berman