CEO Aidan Corbett oversees Wayflyer secure $1bn in capital from US investment firm. Corbett is our Business Person of the Month November 2024, in association with KPMG Ireland.
Wayflyer, the e-commerce financing start-up and one of Ireland’s tech unicorns, says it has secured $1bn in capital from US investment management firm Neuberger Berman.
The latest deal, which comes just months after Wayflyer renewed its $300m debt line led by JP Morgan, will help the fintech meet growing demand for capital from US e-commerce customers.
Founded in 2019 by Jack Pierse and Aidan Corbett, Wayflyer provides e-commerce businesses with loans to kick-start their business or improve cash flow in exchange for a share of their future profits.
Since its founding, Wayflyer has seen a meteoric growth in its business. Last year, following a funding raise of $150m, it became one of Ireland’s tech unicorns.
It has been expanding since then, growing its team and making a series of senior hires. It also signed a major sponsorship deal last year with Irish golfer Shane Lowry and snapped up creator funding provider Peblo in its first big acquisition.
Corbett, who is Wayflyer’s CEO, said that despite the “current economic conditions” the start-up is seeing growing demand for its financing services, especially in the US market.
The Business & Finance Awards
Business & Finance was launched in 1964 as Ireland’s premier business magazine. The Business & Finance Awards programme was established a decade later, in 1974, and has become Ireland’s longest-running and most coveted business awards programme. These prestigious awards celebrate the outstanding achievements of some of our most remarkable business leaders.
The Business & Finance Awards will take place on Thursday 5th December and will honour Sir Nick Clegg, former UK Deputy Prime Minister and current President of Global Affairs, Meta, as well as champion horse trainer Willie Mullins. The legacy of another great Irish sporting hero and leader, Tony O’Reilly, will also be remembered. To book a table, please contact Brian.Kearns@businessandfinance.com
Submissions for this year’s awards are now open.
Business & Finance, Business Person of the Month
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