Ireland – Ireland-based e-commerce financing and growth platform, Wayflyer, has secured a Series B funding round of US$150m, which brings the platform’s post-money valuation to US$1.6b, making it the country’s sixth unicorn.
The all-equity round was co-led by DST Global and QED Investors, as well as three new investors, namely Prosus, Madrone Capital Partners, and J.P. Morgan. Existing investors Left Lane Capital and Guillaume Pousaz also participated in the funding round.
The new funds will be used to continue building Wayflyer’s presence in current territories, expand into new territories across Europe and Asia, further expand its product range, and hire the best talent globally. Wayflyer will also provide billions of dollars to e-commerce merchants in the coming years.
Aidan Corbett, Wayflyer’s CEO, shared that Wayflyer was launched in April 2020, and has been relentlessly focused on helping their customers drive growth and removing the barriers that limit their potential.
“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 e-commerce, I couldn’t be more excited for what’s ahead,” said Corbett.
Wayflyer helps ambitious e-commerce businesses unlock their true potential, solving some of the critical challenges that have long stifled growth. Combining access to capital and insights that help e-commerce businesses deploy that capital effectively, Wayflyer acts as a trusted growth partner to many merchants worldwide.
Tom Stafford, DST Global’s co-founder and managing partner, shared that they 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 e-commerce businesses around the world,” said Stafford.
Meanwhile, Sandeep Bakshi, Prosus Ventures’ head of investments for Europe, said, “The pandemic has accelerated e-commerce adoption globally and Wayflyer is transforming financial services for e-commerce businesses wanting to scale quickly, helping them to gain access to capital, inventory and insights at attractive terms.”
