Wayflyer, a specialist revenue-based financing platform connecting early-stage e-commerce firms to growth capital, has secured a $1 billion financing deal with investment management firm Neuberger Berman.
In brief:
-According to the Dublin-based platform, its agreement with Neuberger Berman takes the form of an “off-balance sheet programme”.
-The deal will see Wayflyer purchase up to $1 billion worth of assets from funds managed by the firm on more favourable terms, although a timeframe for this transaction has not been disclosed.
-Speaking on the agreement, Aidan Corbett, Wayflyer’s co-founder and CEO, says his platform is currently experiencing growing demand “especially in the US market”.
What does this mean?
Zhengyuan Lu, managing director at Neuberger Berman, anticipates that the global e-commerce sector will “continue growing rapidly in the coming years”.
