Wayflyer, a prominent provider of working capital for small businesses, has announced a significant financial milestone. The Dublin-based company secured a $250 million, two-year credit facility from ATLAS SP Partners, a firm majority-owned by Apollo funds. This injection of capital is poised to accelerate Wayflyer's growth trajectory and expand its capacity to support entrepreneurs.
A Strategic Financial Endorsement
The agreement represents a substantial endorsement of Wayflyer's underwriting model and consistent portfolio performance, arriving as the company surpasses $100 million in annual revenue. Aidan Corbett, CEO and Co-founder of Wayflyer, described the deal as a strong vote of confidence in the company's operational strategy. He emphasized that scaling responsibly with leading institutions enhances their ability to provide fast, flexible capital to more founders.
From the lender's perspective, the partnership aligns with their strategic objectives of supporting innovative financial platforms. Andrew Koepke, a Director at ATLAS SP Partners, affirmed their satisfaction in providing Wayflyer with this additional capital. He noted that the collaboration underscores their firm's commitment to delivering meaningful and bespoke financing solutions to their clients.
Empowering Small Business Ambitions
The expanded funding capacity will be channeled directly to ambitious founders seeking to scale their operations without surrendering equity. This non-dilutive capital is designed to help small businesses fund critical areas like inventory, marketing, and strategic expansion. Wayflyer has already deployed over $6 billion to thousands of businesses globally, addressing a clear and growing market demand.
This new facility allows Wayflyer to meet the increasing demand for flexible financing from online merchants and other small enterprises. The company's data-driven platform serves a segment often underserved by traditional banking institutions, offering tailored solutions. This capital ensures a continued flow of resources to operators with clear growth plans and the need for agile financial support.
Strengthening North American Presence
This announcement coincides with a period of significant momentum and operational expansion for Wayflyer in the United States. The company has recently bolstered its presence in New York City and established a new U.S. hub in Charlotte, North Carolina. These moves signal a long-term commitment to serving the growing demand from small businesses across the North American market.
The fresh capital from ATLAS is crucial for underpinning this North American expansion strategy and reinforcing Wayflyer's market position. It provides the necessary resources to service a rapidly growing client base and support continued growth across the continent. This investment ensures the company can help more entrepreneurs navigate market volatility with greater confidence and financial stability.
Ultimately, the $250 million credit facility marks a pivotal moment for Wayflyer, solidifying its role as a key financial partner for small businesses. The collaboration with ATLAS SP Partners not only provides substantial growth capital but also validates the company's sustainable business model. This development positions Wayflyer to enhance its support for entrepreneurs and continue its expansion, particularly within the dynamic U.S. market.