The debt facility helps Wayflyer increase its market share as it continues to support a global market of over 300,000 ecommerce businesses demanding fair, flexible, and affordable funding.
The funds also reduce Wayflyer’s cost of capital, enabling it to offer competitive rates in the market to ecommerce businesses across the US, Western Europe, and Australia.
The news comes shortly after Wayflyer announced its Series B round in February 2022. The all-equity round, co-led by DST Global and QED Investors, with JP Morgan as a participant, saw Wayflyer’s valuation hit USD 1.6 billion after USD 150 million was raised.
Both the debt financing line and Wayflyer’s Series B round enables the company to continue on its high-growth trajectory, offering ecommerce businesses the expertise and advice that can help them reach their potential.
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