Wayflyer, the revenue-based financing and growth platform for eCommerce businesses, has secured a USD$200m (plus USD$53m mezzanine) debt financing facility from Credit Suisse.
Wayflyer will use the additional debt facility to support further origination, enabling it to quickly provide funding to eCommerce businesses helping them fuel growth, improve cashflow and drive sales. It will also allow Wayflyer to improve liquidity and support its ambition to offer the most competitive rates to its customers, in the United States, and Western Europe.
What does the debt finance facility mean for Wayflyer?
Wayflyer is proud of the firm’s robust business model, its disciplined underwriting model and position as a leading partner to some of the largest financiers. Wayflyer also agreed a $300m debt line with J.P. Morgan earlier this year. Wayflyer provides funding to eCommerce businesses, helping them solve critical working capital problems that can constrain growth.
By improving cash flow its customers are able to seize new opportunities like acquiring additional stock, hiring talent or improving the profitability and resilience of their business.
What were the executive’s thoughts on the funding?
Aidan Corbett, Co-Founder and CEO, Wayflyer said: “More than ever, eCommerce businesses need access to fair, flexible and affordable funding solutions from a trusted partner.”
“At a practical level, this deal helps support our objective to offer the fairest terms and the best rates to our customers while advancing Wayflyer’s unwavering commitment to being a trusted partner, irrespective of the impact of wider economic conditions on the market.”
To apply for funding or to find out more on Wayflyer, visit www.wayflyer.com.