Cash advance platform Wayflyer is to expand its offering beyond online-only businesses to support brands that sell into brick-and-mortar retail channels.
Building on a proven track record with online brands – having already deployed $3bn+ in capital to 3,500+ customers – Wayflyer’s new Wholesale Financing offering will give brands access to working capital for inventory orders on a rolling basis, with no purchase order or invoice required to access the funds.
The firm’s underwriting platform analyses a company’s banking and accounting data, as well as its store connector and advertising performance where the brand also sells online.
Wholesale Finance customers can be provided up to a maximum of $5 million and be funded in as little as 24 hours, with a flexible repayment structure covering fixed weekly, fortnightly or monthly repayments.
The product is available to businesses generating at least $250,000 in annual revenue, based in the USA, the UK, or the Netherlands.
The launch comes off the back of a strong period of growth for Wayflyer as the company achieved monthly profitability in late 2023.
Last year Wayflyer secured a $1 billion off-balance sheet programme with Neuberger Berman and renewed a $300mn debt line with JPMorgan.
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- Source: https://www.finextra.com/newsarticle/43821/wayflyer-moves-into-brick-and-mortar-segment?utm_medium=rssfinextra&utm_source=finextrafeed
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