Wayflyer – the revenue-based financing and growth platform for eCommerce merchants – is expanding to the United States. The rapidly growing Irish startup is opening an office in Atlanta, citing the city’s extensive fintech community and growth opportunities.
The move comes on the back of Wayflyer’s recent $76 million all- equity Series A raise and partnership with Adobe Commerce. Currently, 75 percent of Wayflyer’s customer base operates in the U.S., and funds from the Series A round will be used for on-the-ground U.S. expansion. Wayflyer’s Atlanta investment is expected to create more than 50 new sales jobs by the end of 2021 in addition to positions in customer support, marketing and underwriting.
According to Wayflyer U.S. Director of Sales Jay Puentes, despite double-digit growth year over year in the eCommerce industry, eCommerce companies continue to have working capital challenges, which limit opportunities for growth. “Wayflyer is uniquely positioned to solve these issues and help eCommerce entrepreneurs unlock their potential,” Puentes said. “In the past three weeks alone, the Wayflyer U.S. team has doubled from 7 to 15, and I look forward to leveraging the extensive local network I've built over the last decade to oversee expansion in the area.”