Wayflyer, the revenue-based financing and growth platform for eCommerce merchants, has launched a new funding product for large eCommerce businesses, giving them certainty over future cash flow, at affordable rates. Wayflyer Scaler is a revenue-based funding offering, specifically designed for eCommerce businesses with annual revenues of $20m or more.
What is the market offering of Wayflyer Scaler?
It provides eCommerce businesses with a maximum funding exposure limit, allowing them to deploy that capital however they want up to that limit. By providing certainty over the future capital available to these eCommerce businesses, Wayflyer Scaler allows them to plan ahead with greater confidence and take advantage of investment opportunities when they arise.
Scaler is built for businesses that need millions in funding on a regular basis, but don’t want to endure painful application processes with traditional banks or provide significant security.
The product provides eCommerce businesses with a larger capital pool which they can use as they see fit, be it immediately or as the need arises. Wayflyer will target new prospects with Scaler, alongside offering it to its current customers that have achieved high-growth with Wayflyer’s support, and as a result, are now operating at a much greater scale.
What are the key benefits of using Wayflyer Scaler?
Key Scaler product benefits include;
- Certainty over the future capital available to eCommerce businesses, with the option to get a maximum limit of up to 2x the business’s monthly revenue
- Affordable rates with fully transparent terms and conditions
- Fast, simple application processes
- There are no undrawn fees, arrangement fees, underwriting or initiation costs
- No security or dilution
What were the executive’s comments on Wayflyer Scaler?
Commenting on Scaler, Aidan Corbett, Wayflyer CEO and Co-Founder said: “Larger eCommerce businesses benefit from a host of advantages over their smaller counterparts. However, both fundamentally face the same challenges when it comes to funding. Their working capital profile makes it hard to finance large expenses like inventory and marketing.”
“It’s also difficult for them to plan ahead without knowing what capital they will have access to and when. This can be a real bottleneck for growth, which is where Wayflyer can help.”
“Through recent deals with a range of companies, including J.P. Morgan, we’ve continued to develop our product proposition, while also bringing down costs for customers. Those using our Scaler product will benefit from all the same flexible, competitive and transparent financing terms that made our existing funding options so popular, but with even better terms that will make revenue-based funding an extremely attractive option for business owners.”
Wayflyer is valued at $1.6bn and expects to advance between $2-2.5bn in funding to clients this year. It provided $50m in funding to businesses in 2020 and around $500m in 2021.