Total amount raised
$1.9 Billion
Latest funding date
9/1/2023
Location
Wayflyer has successfully raised funding over 7 rounds, with the latest being a Debt Financing round. The company is backed by 21 investors, including notable names like Neuberger Berman and JP Morgan.
Keep reading to explore the intricacies of Wayflyer's fundraising journey and the investors backing this innovative platform.
What Is Wayflyer?
Wayflyer, based in Dublin, Ireland, provides funding and marketing analytics to e-commerce businesses. The company operates in the analytics, e-commerce, finance, and marketing industries.
With an employee count ranging from 251 to 500, Wayflyer has made significant strides in the financial services sector, particularly in offering fast and flexible funding solutions. They have deployed over $5 billion to more than 5,000 businesses worldwide.
How Much Funding Has Wayflyer Raised?
- Seed Round
- Amount Raised: USD 10,200,000
- Date: October 2020
- Lead Investors: QED Investors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and develop the initial product offering.
- Series A
- Amount Raised: USD 76,000,000
- Date: May 2021
- Lead Investors: Left Lane Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and enhance product capabilities.
- Debt Financing
- Amount Raised: USD 100,000,000
- Date: May 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide additional capital for scaling operations.
- Series B
- Amount Raised: USD 150,000,000
- Date: February 2022
- Lead Investors: DST Global, QED Investors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue growing and serving an increasing number of customers ahead of its goal of reaching profitability.
- Debt Financing
- Amount Raised: USD 300,000,000
- Date: May 2022
- Lead Investors: JP Morgan
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel Wayflyer's growth by providing access to fair, flexible, and fast funding for its e-commerce customers.
- Debt Financing
- Amount Raised: USD 253,000,000
- Date: September 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide additional capital for scaling operations.
- Debt Financing
- Amount Raised: USD 1,000,000,000
- Date: September 2023
- Lead Investors: Neuberger Berman
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide Wayflyer with the capital firepower to ensure its e-commerce customers can continue to thrive in any economic conditions.
Total Amount Raised: USD 1,889,200,000. Current Valuation: Not publicly disclosed.
Key Investors
- Neuberger Berman
- Details: Neuberger Berman is an investment management firm that has partnered with Wayflyer in a $1 billion off-balance sheet program. This partnership allows Wayflyer to purchase assets from funds managed by Neuberger Berman.
- Investment Focus Areas: E-commerce, financial solutions, asset management.
- Notable Investments: Not publicly disclosed.
- JP Morgan
- Details: JP Morgan is a global financial services firm that provided a $300 million debt line to Wayflyer in June 2023. The firm offers a range of financial services including investment banking and asset management.
- Investment Focus Areas: Financial services, technology, e-commerce.
- Notable Investments: Not publicly disclosed.
- DST Global
- Details: DST Global is a venture capital firm that led Wayflyer's Series B round with a $150 million investment. The firm focuses on late-stage internet companies.
- Investment Focus Areas: Internet, technology, e-commerce.
- Notable Investments: Facebook, Alibaba, Spotify.
- QED Investors
- Details: QED Investors is a leading venture capital firm that participated in Wayflyer's seed round. The firm specializes in investing in early-stage, disruptive financial services companies.
- Investment Focus Areas: Fintech, financial services, technology.
- Notable Investments: Credit Karma, SoFi, Avant.
- Left Lane Capital
- Details: Left Lane Capital is a venture capital firm that led Wayflyer's Series A round with a $76 million investment. The firm focuses on high-growth internet and consumer technology companies.
- Investment Focus Areas: Internet, consumer technology, e-commerce.
- Notable Investments: GoStudent, M1 Finance, Tovala.
What's Next for Wayflyer?
Wayflyer stands at the cusp of significant growth, buoyed by a $1 billion off-balance sheet program with Neuberger Berman and a $300 million debt line from J.P. Morgan. These financial boosts position Wayflyer to meet the burgeoning demand for reliable funding solutions in the U.S. market, leveraging their advanced data analytics to offer competitive capital to e-commerce businesses.
Future fundraising opportunities appear promising, given the strong investor confidence and the rapid growth of the e-commerce sector, projected to reach $5.4 trillion by 2026. Wayflyer’s robust financial backing suggests potential for additional debt lines or strategic acquisitions to further expand its market presence.
However, challenges loom, including navigating economic downturns and high failure rates among e-commerce startups. Despite these hurdles, Wayflyer's innovative approach and solid financial foundation provide a strong platform for continued success and expansion.
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