Dublin-based Wayflyer, a unicorn that provides revenue-based financing and growth platform for e-commerce businesses, announced that it has secured $1B (nearly €931.76M) in funding from New York-based Neuberger Berman, an investment management firm.
Wayflyer has described the funding as an “off-balance sheet programme”, allowing the company to exclude certain assets and liabilities from its official balance sheet reporting.
This approach has likely helped Wayflyer maintain a lower debt-to-equity ratio, especially as it had previously secured substantial credit to support its loans to e-commerce startups.
Wayflyer co-founder & CEO, Aidan Corbett says, “As e-commerce businesses seek to navigate growth amid the current economic conditions, we’re seeing a growing demand for our reliable funding solutions, especially in the US market.”