Wayflyer, an e-commerce financing platform, secures a $1 billion financing deal with Neuberger Berman for off-balance sheet financing to support its growth and meet increasing demand in the US market.
Facts
- Wayflyer partners with Neuberger Berman in a $1 billion off-balance sheet financing agreement.
- Off-balance sheet financing allows Wayflyer to maintain a low debt-to-equity ratio, securing cheaper borrowing rates.
- Wayflyer experienced a 100% increase in capital deployment from 2021 to 2022.
- The timeline for the asset purchase from Neuberger Berman’s managed funds remains undisclosed.
- Wayflyer plans to provide capital to e-commerce start-ups, addressing their funding challenges.
- Wayflyer achieved unicorn status after securing a $150 million Series B and renewing a $300 million debt line from JP Morgan.
- Wayflyer typically grants loans ranging from $300,000 to $400,000 for growth-related purposes.
- The loans empower e-commerce businesses through stock acquisitions, hiring, and improving financial resilience.
- Neuberger Berman expects rapid growth in the global e-commerce sector in the coming years.
