NEW YORK, March 24, 2021 (GLOBE NEWSWIRE) — Wayflyer, an eCommerce revenue-based financing and advertising analytics platform, introduced plans to broaden its presence in Australia by way of new hires and investments within the nation’s quickly rising small to medium-sized eCommerce companies and Direct-to-Client (DTC) manufacturers. The corporate will considerably enhance staffing at its present Alexandria, Sydney-based workplace to supply as much as AU$100 million in funding over the following a number of years. Income-based financing is a brand new class of finance for Australia, with Wayflyer as the primary firm offering such funding to open an workplace and construct an area crew within the nation. Having launched its Australian enterprise in July 2020, Wayflyer already counts a few of the largest and best-known home eCommerce manufacturers amongst its 40 present clients within the nation, with over AU$9 million in funding dispersed to-date in quantities starting from AU$5,000 to 1 million.
“We have used Wayflyer for financing the import of our merchandise from France. The crew may be very pleasant, the service is unbelievable and the funds switch is quick. The charges beat the banks and that is invaluable for a rising enterprise,” stated Kyla Kirkpatrick, CEO and Founding father of Emperor Champagne, an Australia-based eCommerce vacation spot for champagne and a Wayflyer buyer.
One other buyer of Wayflyer’s is Soda Shades, a well-known Australian sunglass label.
“Wayflyer has been wonderful to work with over the previous 6 months. Having undertaken two rounds of funding, they’ve allowed us to double down on advertising and product over our busiest time of the 12 months,” stated Luke Younger, co-founder of Soda Shades. “As a small enterprise we respect their assist in helping us to develop and the benefit by which to take action.”
To fulfill its Australian-market progress and funding goals, Wayflyer is partnering with two of the nation’s best-known digital options suppliers: No Standing, an Australia-based world digital advertising company; and Airwallex, an Australia-founded fintech unicorn that gives cross-border fee options to companies. Via these collaborations, Wayflyer goals to extend model consciousness and broaden entry to revenue-based financing, which supplies an alternative choice to conventional financial institution funding and is tailor-made to the wants of scaling eCommerce firms. As a substitute of curiosity charges, fairness stakes or collateral necessities, Wayflyer prices clients a single fastened price on funding gives that they pay again as a share of their gross sales.
Wayflyer and No Standing have fashioned a brand new platform, Accelerate+. Operational since January 2021, Speed up+ pairs Wayflyer’s data-driven funding with No Standing’s digital experience and information of Australia’s eCommerce, trend and tech sectors. Upon approval, Speed up+ clients will obtain quick funding as much as AU$5 million to finance their digital progress technique utilizing No Standing’s providers for digital advertising and model technique, in addition to to buy stock. Eligible manufacturers additionally obtain complimentary entry to Speed up+ Analytics to optimize their advertising spend.
No Standing CEO Sohan Karunaratne stated, “No Standing is proud to companion with Wayflyer to supply Australian eCommerce manufacturers a brand new data-driven funding pathway by way of Speed up+. Leveraging our experience in digital advertising, along with different No Standing providers, we’re empowered to assist construct and drive manufacturers ahead, permitting them to succeed in their enterprise objectives. We’re excited to be ready to supply monetary alternatives and modern options to manufacturers in want.”
Launched in February 2021, Wayflyer’s partnership with Airwallex permits the corporate to supply funding and advertising analytics providers to Airwallex’s eCommerce clients. As well as, Wayflyer clients in Australia can now use Airwallex’s world fee and card providers, enabling them to run their enterprise extra simply and broaden internationally. Via these choices, Wayflyer and Airwallex are leveraging their complementary experience to supply a complete resolution to challenges confronted by founders and growth-stage manufacturers, together with acquiring reasonably priced financing and facilitating cross-border funds. Already, within the first few weeks of the partnership, over AU$1,800,000 in funding has been offered to Airwallex clients.
“It’s an thrilling time for eCommerce in Australia, which has one of the vital dynamic startup ecosystems on this planet. By constructing an excellent stronger native presence, we goal to play a significant position in serving to the nation’s most promising small companies attain their potential,” stated Wayflyer CEO and Co-Founder Aidan Corbett. “No Standing and Airwallex are the right companions on this journey, given their unbelievable monitor data and world outlooks. Collectively, we’re establishing new pathways for Aussie manufacturers to succeed in scale and success.”
Wayflyer helps eCommerce shops worldwide attain their progress potential by bridging the working capital hole and fixing widespread advertising issues. We offer eligible eCommerce shops with reasonably priced, non-dilutive, unsecured capital that enables the flexibleness to safe promoting house and stock. Our analytics platform analyzes advertising efficiency each day, offering eCommerce shops with world-class analytics and tangible, granular suggestions designed to enhance efficiency. Not solely are eCommerce founders supplied with the working capital wanted to remain in enterprise, they’re then outfitted with the data-driven information to spend that capital smarter.
The Bulleit Group for Wayflyer