Irish fintech start-up Wayflyer hits unicorn status with $150m Series B
Revenue-based financing and growth platform Wayflyer has achieved unicorn status after securing a $150 million Series B funding round.
The Dublin-based fintech is now worth $1.6 billion, making it Ireland’s sixth unicorn.
The round was co-led by DST Global and QED Investors, with existing investors Left Lane Capital and Checkout.com founder Guillaume Pousaz also participating.
New investors Prosus, Madrone Capital Partners and JP Morgan also contributed.
Wayflyer says the global e-commerce market is experiencing rapid growth and is expected to hit $5.4 trillion this year. “However, the financial and supply chain ecosystems are still playing catch up,” the company adds. “Sourcing products, manufacturing, and freight are enormous obstacles for e-commerce businesses — these are the headaches keeping founders up at night.”
Wayflyer CEO Aidan Corbett says that since launching in April 2020, Wayflyer has been “relentlessly focused” on helping its more than 1,000 customers drive growth and “removing the barriers that limit their potential”.
The e-commerce financing platform says the new cash will help it develop new products, move into new territories, expand its workforce and “create the financial infrastructure to power global e-commerce”.
The start-up raised $76 million in a Series A round in June last year, just 14 months after it launched its first product.
Also in 2021, the fintech expanded into new markets including Spain and the Netherlands, opened a dedicated office in Atlanta, Georgia and formed partnerships with Adobe, Sezzle and eBay UK.