础苍听eCommerce growth platform听based in听Dublin听says the UK market is 鈥榢ey鈥� after raising听拢54听million Series A funding.听
Wayflyer听supports eCommerce merchants听in听the US, UK and Australia听with revenue-based financing and growth solutions.听
CEO听Aidan Corbett听told听老九品茶Cloud听that the UK remains a crucial market for the firm as it plots further international expansion.听
Wayflyer听employs nine people in its Shoreditch base听and also has offices in New York and Sydney.听
鈥�The UK is currently our second–largest market globally and a key focus market for us,鈥� he said.听听
鈥�Over the last number of years, eCommerce has played a strong role in the UK economy and internet sales have been on a consistently upward growth trend…听this trend has obviously been accelerated by COVID-19 and the forced closure of most听brick–and–mortar retail for extended periods of time.听
鈥�In addition, there’s a strong entrepreneurship ecosystem in the UK, so it’s an important market for us to be in to support eCommerce entrepreneurs.听听听
鈥�We provide eCommerce merchants with access to working capital and also advice and support on typical obstacles they may face听such as听online marketing听and听inventory sourcing.鈥�听听听
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The听Series A fundraise听was听led by Left Lane Capital, with support from partners of DST Global, QED Investors,听Speedinvest听and Zinal Growth, the family office of听Checkout.com founder听Guillaume听Pousaz.听
The equity raise comes just 14 months after听Wayflyer听launched its first product, confirming its status as one of Europe’s fastest growing FinTech听startups.听
奥补测蹿濒测别谤鈥檚听deep knowledge of the eCommerce sector, coupled with its sophisticated use of big data, has seen the business grow 290% over the past听six听months,听deploying over $150m of funding across its three core markets:听the US, UK and Australia.听听
The business is set to enter multiple new markets in the coming months.听听听
To cope with demand for its cash advance product,听Wayflyer听has also expanded its debt facilities by an additional $100m and recently signed a major partnership with Adobe Commerce in a move that will further increase its capital deployment capabilities.听听
Corbett听added:听鈥淲e exist to help eCommerce businesses grow, and reduce the traditional barriers they face as they scale. Our rapid growth since launch demonstrates the strength of this proposition and our relentless focus on customer service, and we鈥檝e only just scratched the surface of this enormous market.听听
鈥�The number of direct-to-consumer brands launching every day continues to amaze us and we鈥檙e excited about the next stage of our mission to become the go-to-growth platform for merchants looking to realise their potential.鈥�