Wayflyer expands to Germany and other European markets through Raisin Bank

Wayflyer offers ecommerce businesses a digital and flexible option for revenue-based retail financing and has been active in the German market with this business model for since September 2022. The expansion is made possible by the partnership with Raisin Bank, which, as a fronting bank with a full banking licence, handles the lending to Wayflyer's customers.

Wayflyer to work out ecommerce financing needs

Many ecommerce businesses rely on flexible and unbureaucratic financing, especially in the start-up phase, as per the press release. Through Wayflyer, online merchants gain access to credit financing to pursue and achieve their growth goals. They benefit from fast payments, automated processes and repayment rates that are calculated according to their turnover.

Based on various data points, Wayflyer's risk assessment follows a transparent and reliable rating system, from which a financing volume is then derived. Financing from a volume of EUR 10,000 up to EUR 20 million can be applied for via the Wayflyer platform. In the German market, the company aims to fund ecommerce businesses with at least EUR 100 million following 2022.

Raisin Bank to handle Loan Fronting

To be able to offer its product in Germany, Wayflyer is working together with Raisin Bank. The Germany-based bank, which is part of the fintech Raisin, already supports more than 50 international fintechs and other financial companies in the implementation of business models requiring a licence in the areas of loans, factoring, accounts and payment transactions.

The cooperation enables Wayflyer to provide its services in Germany and to conduct licensable lending business. Raisin Bank acts as a so-called fronting bank: it checks the loan applications, grants the loans, and sells the loan receivables to the refinancing special purpose entity. Since all of Raisin Bank's processes run on a modern, cloud-based core banking system, it can guarantee fast and efficient lending to Wayflyer's customers.

Wayflyer launches in Germany and sees potential in the EU

In addition to its launch in Germany, the company has recently become active in Denmark, Sweden, and Belgium. With its EU-wide passporting, Raisin Bank can accompany the expansion across Europe. The partnership with Raisin Bank thus opens up further international scaling opportunities for Wayflyer.

According to Wayflyer’s officials, as they expand into new markets and continue to be the partner of choice for ecommerce businesses, having the right support in place is crucial. Raisin Bank is a suited partner for Wayflyer as they enter the German market. They have an aligned approach to innovation and a core focus on providing customers with augmented products and services.