Announcing our $253mn debt financing from Credit Suisse

Date
September 1, 2022
Category
News
Written by
Aidan Corbett

Our ambition at Wayflyer is to help eCommerce businesses to grow — no matter the obstacles they face.

There’s no hiding from today’s hardening macroeconomic conditions. Businesses of all shapes and sizes are feeling the pressure, and eCommerce is not immune to this.

So now more than ever, eCommerce businesses need access to fair, flexible, and affordable funding solutions.

That’s why today, I’m excited to share that we’ve secured a $253million debt financing facility from Credit Suisse. Following the news of our $300million debt financing deal with J.P Morgan in May and our Series B funding round in February of this year, this deal gives us the financial backing and stability to be able to expand the support we provide to our customers.

So what does this deal mean for eCommerce businesses? Well, it means that we can offer our customers more funding, at the fairest terms and most competitive rates.

As with our J.P. Morgan agreement, the funding from Credit Suisse changes nothing about how we do business. It simply keeps our cost of capital low, which in turn means better rates for customers and more flexibility on our funding terms.

Regardless of the impact of wider economic conditions, we can continue to give eCommerce founders access to the funding they deserve and the means to scale without giving away equity or offering up security.

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Helping customers thrive in all economic conditions

The last two years have seen unprecedented demand for online retail. But it’s also thrown a lot of challenges at eCommerce businesses and the remarkable people running them. From global supply chain crises to iOS 14 changes that have destroyed acquisition channels.

Let’s not kid ourselves, it’s been tough.

Now, in August 2022, there are new challenges to face. The macroeconomic environment, including inflation and rising interest rates, puts pressure on consumer demand. Valuation multiples have also shrunk, making it far more difficult and expensive for businesses to raise equity investment.

Many suppliers are also raising their prices, putting pressure on cash flows and impacting margins.

Running an eCommerce business was never easy. 2022 is no exception. And in August 2023 or 2024, who knows what unforeseen challenges founders will face.

What I do know, though, is that we’ll be there in your corner. The founders we work with can count on us to do all we can to support them through all seasons and macroeconomic conditions.

Funding a better way

As a founder, I know what it’s like to have to deal with the current market challenges. And I know how valuable it is to have someone who’s there to help you through them.

The businesses we work with want fast, flexible finance at great terms. Ever since we started Wayflyer, we’ve been committed to making this happen — and today, I wanted to reaffirm that commitment.

We will relentlessly focus on solving the cash flow problems facing eCommerce founders through by making access to funding fairer, faster and more flexible for our customers.

Our current funding rates are now some of the most competitive in the whole eCommerce financing market. We’ve secured relationships with top-tier institutions like Credit Suisse that give us the financial backing and stability to be able to support our customers despite the challenging macroeconomic environment.

Over the coming years, we will continue to do everything we can to always provide the best possible terms to our customers. You can count on that.

If you are an eCommerce business looking to take your growth to the next level, let’s chat about how we can help.

Fill out the form and discover what rates Wayflyer can offer you

Written by
Aidan Corbett
Aidan Corbett is Co-Founder & CEO at Wayflyer

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