Wayflyer has launched a new wholesale financing product. It is now extending its purpose-built financing solutions beyond online-only businesses, serving the needs of a new customer segment. Building on a proven track record with online brands, having already deployed US$3bn+ in capital to 3,500+ customers, Wayflyer’s new offering will support brands that sell into brick-and-mortar retail channels.
The financing will give brands access to working capital for inventory orders on a rolling basis, with no purchase order or invoice required to access the funds. This will enable brands to fulfill increasing demand and larger wholesale contracts as they grow. The financing can be used by brands to invest in growing their presence, launching new products, or securing new retail partnerships.
Wayflyer will offer flexible repayment structures, enabling customers to make fixed weekly, fortnightly or monthly repayments. Customers will be underwritten via Wayflyer’s tech-enabled platform, which analyses a company’s banking and accounting data, as well as its store connector and advertising performance where the brand also sells online. Wholesale finance customers can be provided up to a maximum of US$5 million and be funded in as little as 24 hours. The product is available to businesses generating at least $250,000 in annual revenue, based in the USA, the UK, or the Netherlands.
Conor Jones, Chief Business Officer at Wayflyer commented: “The launch of our Wholesale Financing product marks another important milestone in our mission to give the world access to the best products, while acting as a tailored growth partner to thousands of consumer brands globally. Regardless of where they are on their journey – from bedroom startups, to fully fledged eCommerce or wholesale brands, to bigger brands with an omnichannel presence, our goal is to help founders and business builders bring incredible new products to the world”.
The launch comes off the back of a strong period of growth for Wayflyer as the company achieved monthly profitability in late 2023. Last year Wayflyer secured a US$1 billion off-balance sheet programme with Neuberger Berman and renewed a US$300mn debt line with J.P. Morgan, allowing the business to support the working capital needs of its customers.
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