SAN FRANCISCO AND LONDON – (BUSINESS WIRE)–Today Wayflyer, a revenue-based funding platform partnered with Adobe to launch a financial solution for companies on Adobe’s industry leader e-commerce platform. This partnership solves a significant problem in the e-commerce industry by providing businesses with the competitive working capital they need to scale and grow.
The partnership will enable e-commerce businesses on Adobe Commerce, powered by Magento and Magento Open Source, to access revenue-based funding, an affordable alternative to traditional funding sources tailored to the needs of scale-up. e-commerce businesses. Instead of interest charges, dilutive equity investments, or personal guarantees, ecommerce merchants will be charged one-time fixed fees and remittances as a percentage of their daily sales.
The e-commerce industry is particularly difficult for businesses to operate due to its punitive payment terms. Merchants must pay their entire inventory up front, 30% of the inventory payment on the stock’s due date, and the remaining 70% on the ship date, massively depleting their cash balances beforehand. even that the inventory was not received. With access to Wayflyer’s funds, merchants will be able to afford larger inventory purchases to more easily meet increased product demand, especially during busy holiday periods. Funding can also be used by older Magento 1 companies to upgrade to the latest Magento platform, or to modernize their brand experience by working with one of Adobe’s many software packages. Solution partners.
To further optimize sales, Adobe merchants will have unlimited access to Wayflyer’s free marketing analytics and dashboard offering, designed to provide personalized advice on how to improve marketing inefficiencies. Ultimately, this access to capital funding facilitates higher investment in inventories, inventories and analysis, and drives business growth.
The new channel for Wayflyer will greatly amplify its already rapid growth. Since its launch in April 2020, the fintech company has provided more than $ 130 million in financing to e-commerce companies in North America, Europe and Australia.
Aidan Corbett, CEO and Co-Founder of Wayflyer, comments:
“With the demand for online retail at an all time high, we are excited to be at the forefront of creating a one-stop solution to help businesses grow and meet the rapidly increasing demand. of electronic commerce. Together with Adobe, we are able to offer merchants a new way to tackle the working capital issue they face, allowing them to fully focus on optimizing their businesses and accelerating their business. their growth. Partnering with Adobe has provided us with a great opportunity to boost the reach of our offering – with the established Adobe platform we can remove funding barriers for large-scale online retailers, thereby boosting the e-commerce industry. and ultimately helping fuel an economic recovery. “
Justin Merickel, vice president of business development at Adobe, comments:
“E-commerce has become a defining capability over the past year in helping businesses stay in touch with their best customers. We’re excited to provide Adobe merchants with access to a bespoke financing product to help them improve and grow their online businesses. ”
Wayflyer Financial Support for Adobe Merchants will be fully operational by the end of the summer, and available to customers in US, Canada, Ireland, UK, Spain, Netherlands , in Belgium, Denmark, Sweden and Australia initially, with other regions to be revealed in time.
Founded in September 2019, Wayflyer helps ecommerce brands around the world reach their growth potential by filling the working capital gap and solving common marketing problems. We provide qualifying e-commerce businesses with affordable, non-dilutive, unsecured capital that enables them to secure ad space and inventory, paving the way for growth and profitability.
Wayflyer’s unique free analytics platform analyzes marketing performance on a daily basis, providing e-commerce brands with world-class analytics and tangible, granular recommendations designed to improve performance. Through Wayflyer’s e-commerce platform, e-commerce brands have the working capital to thrive and the data-driven knowledge to spend their capital optimally.