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Wayflyer Series-A

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Wayflyer Pitch Deck to Raise $76m Series-A Round

This is the Wayflyer pitch deck to raise a $76m series-a round in 2021.

About

Wayflyer is a revenue-based financing platform for e-commerce brands. It provides fast and affordable funding to help grow businesses, without any of the complications and free marketing analytics to get the most out of budget. The company is based in Dublin, Ireland.

Irish venture capital disruptor Wayflyer has raised $76 million after the company maintained its growth through the pandemic.

The Dublin-based startup, which provides flexible funding to ecommerce businesses, secured the new capital in a round led by New York-based investor Left Lane Capital. The Series A round comes hot on the heels of the startup’s seed round last October.

Wayflyer provides non-dilutive, unsecured capital for inventory and advertising space to e-commerce companies in the US, Western Europe, and Australia.

The company’s funding ranges from between $10,000 and $20 million. Businesses that make use of Wayflyer’s capital can pay it back by offering up a percentage of its daily sales.

“We’ve had a period of very strong growth where we have been lending increased amounts each month and have opened new offices globally,” Wayflyer CEO Aidan Corbett told Insider. “We’re opening in new markets soon and need to beef out our sales and marketing, product and engineering, and analytics teams.”

E-commerce has been booming in recent months. The coronavirus pandemic has accelerated the shift away from physical stores to digital shopping by roughly five years, according to data from IBM’s US Retail Index.

Revenue-based financing has also grown over the last couple of years as an alternative to venture capital, with Canada’s Clearco recently attaining a $2 billion valuation and expanding to the UK in 2020. Alternatives like London’s Uncapped, which recently raised $80 million, and Berlin’s Uplift offer similar services in Europe.

Wayflyer has opened offices in Sydney and Atlanta in recent months and will expand operations to France and Germany soon. The business has deployed around $150 million in funding to businesses in the past 12 months with only a “small number of minor defaults,” according to Corbett.

“Everyone thinks e-commerce had a great year, and it did from the demand side, but there was also significant disruption with increased freight costs and slowdowns from events in the Suez Canal,” Corbett added. “What’s excited us is that our performance hasn’t dropped off which shows investors and customers that we can withstand problems.”

In addition to the equity funding, the startup has expanded its existing debt facilities to $100 million and is now able to advance larger sums as Wayflyer’s cost of funding has decreased, Corbett said. Wayflyer will look to grow its team from 75 currently to around 200 with a major focus on the US.

The company was spun out of Corbett’s previous startup, a data analytics platform called Conjura. Other investors in the round included partners of DST Global, QED Investors, Speedinvest and Zinal Growth, the family office of Guillaume Pousaz, the founder of Checkout.com.

Dan Ahrens, partner at Left Lane Capital, said that Wayflyer had quickly become a key player in the e-commerce ecosystem.

“They have unlocked growth for many entrepreneurs, and their strong customer reviews show that they are a deeply trusted partner of many leading brands,” Ahrens said.

Funding Rounds

Announced Date	Transaction Name	Number of Investors	Money Raised	Lead Investors
May 27, 2021	Series A – Wayflyer	5	$76M	Left Lane Capital
May 27, 2021	Debt Financing – Wayflyer	—	$100M	—
Oct 19, 2020	Seed Round – Wayflyer	5	$10.2M	QED Investors