Wayflyer, a startup that connects e-commerce platforms with funding, is the recipient of a $10.2 million seed round. The backing, led by Washington, DC-based QED Investors, will help Wayflyer scale its product and develop its IP technology. The company already has offices in London, New York City, Dublin and Sydney.
Wayflyer provides revenue-based financing to e-commerce brands, and analytics to help companies see what models work. It has backed firms in gym software, fashion, dentistry, mobility and sport. Wayflyer claims that this seed round will help it become profitable by 2021.
“Since issuing our first advance in March of this year, we have helped over 100 businesses to exceed their revenue and growth goals with over $25m in total funding advanced and zero defaults,” said Wayflyer CEO and co-founder Aidan Corbett. “With the support of our investors, we’re building upon this winning formula in new markets and with new capabilities.