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Fintech startup Wayflyer raises $150M, becomes Ireland’s sixth unicorn

Wayflyer
Image credits: Wayflyer

Wayflyer is an Irish revenue-based financing and growth platform for e-commerce merchants. Today, the company has secured $150 million in a Series B funding round.

Sixth Irish unicorn!

With this, Wayflyer reaches a valuation of $1.6 billion, thereby making it the sixth unicorn in Ireland. The other Ireland unicorns of this year include Intercom, Workhuman, Fenergo, LetsGetChecked, and Flipdish.

. In 2021, Wayflyer raised $76 million in a Series A round and expanded to new markets including Spain and the Netherlands, and opened a dedicated office in Atlanta.

The investment round was led by DST Global and QED Investors alongside participation from three new investors – Prosus, Madrone Capital Partners and J.P. Morgan. Also, existing investors Left Lane Capital and Guillaume Pousaz, founder of Checkout.com.

Wayflyer will use the funding round to continue building its presence in current territories, expand into new territories across Europe and Asia, expand its product range, and hire the best talent globally.

Recently, it established itself in Australia’s booming e-commerce sector to provide analytics, financing and inventory sourcing solutions to e-commerce businesses. Also, Wayflyer plans to invest more than $100 million in the Spain and Netherlands markets this year.

Aidan Corbett, Wayflyer CEO said: “Our Series B round will help us build our offering to customers, expand into exciting new territories, and hire more world-class talent. We’ve only just scratched the surface of what’s possible here, and with an incredible team all working together to solve the biggest challenges in eCommerce, I couldn’t be more excited for what’s ahead.”

“It’s incredible to give entrepreneurs the extra clout to get the true potential out of their business. e-commerce is growing so fast, that acting fast and data driven insights are even more important. With this Series B we can help these great companies even better,” said Matthijs Onland, Country Manager Netherlands of Wayflyer.

Tom Stafford, Co-founder and Managing Partner at DST Global said: “We are impressed by their commitment to building the best products for their customers and proactively helping their customers grow via analytics, practical insights and attractively priced funding. We are pleased to continue supporting the team, as Wayflyer expands globally to provide innovative financing and growth solutions for eCommerce businesses around the world.”

Sandeep Bakshi, Head of Investments for Europe at Prosus Ventures added: “Wayflyer is transforming financial services for eCommerce businesses wanting to scale quickly, helping them to gain access to capital, inventory and insights at attractive terms. Aidan, Jack and their team have a deep understanding of what will drive value for their customers, and the financial and business innovation that Wayflyer provides will help to fuel eCommerce ecosystems globally.”

Helps e-commerce businesses

Founded in 2019 in Dublin by Aidan Corbett and Jack Pierse, Wayflyer intends to solve the biggest challenges faced by growing e-commerce businesses.

As e-commerce continues to rapidly expand globally, Wayflyer is positioned to help ambitious e-commerce businesses unlock their true potential. Also, it intends to solve some of the critical challenges that these businesses face. Wayflyer acts as a trusted growth partner to thousands of merchants worldwide.

Also, Wayflyer has teamed up with the likes of Adobe, Sezzle and eBay UK. Its staff count increased by 525% in 2021, from 40 up to 250. Besides this, the annual capital deployments grew over 900% year-on-year.

What does Wayflyer do?

Wayflyer helps e-commerce businesses worldwide reach their growth potential by providing a range of financing and analytics solutions that improve cash flow, drive sales and optimise supply chains.

Businesses are given the flexibility to secure advertising space and inventory, paving the way for growth and profitability. Wayflyer’s unique free analytics platform also analyses marketing performance on a daily basis, equipping e-commerce businesses with world-class analytics and granular recommendations designed to improve performance.

To put in simple words, Wayflyer offers e-commerce players with customised and flexible financing plans that help businesses with their next stages of growth.

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