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Lender
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Wayflyer

Finanso.Multilogin™

About lender

Wayflyer is an online platform that provides revenue-based growth finance to eCommerce financing enterprises. Aidan Corbett and Jack Pierse established Wayflyer in 2015 to address the most pressing issues confronting expanding eCommerce businesses. The company aims to help e-commerce merchants fund their growth needs by providing them with working instant capital (funding amounts ranging from $10,000 to $20 million) to optimize cash flow and boost revenue.

The corporation already has a presence in Australia, with a Sydney office. The company's headquarters are in Dublin, Ireland, and it now supports over 150 Australian eCommerce firms.

Wayflyer is a revenue-based financing platform for eCommerce businesses that can help you raise funds for marketing, inventory, or general cash flow. They import data from Shopify and Google Analytics, process it, analyze your performance, and then present you with various financing choices based on your revenue.

Pros and cons

Pros

  • Available in Dublin, London, New York, Sydney, and Atlanta office

  • Flexible funding options

  • Provides instant capital from $10,000 to $20 million

  • Helps eCommerce business.

Cons

  • Not accessible in all locations

  • Does not work with drop shippers

  • Does not provide funding to start a business.

Terms and conditions

Wayflyer Funder

Wayflyer financier offers a wide range of funding options, from $10,000 to $20,000,000. Once you join and link your platforms, they will thoroughly analyze your specific business, presenting you with the most relevant personalized offers. A ratio of the total cash advance amount will be charged as a transaction fee. It varies from roughly 2% to 8% on average, with the high and low end depending on criteria such as the nature of your business and how much money you are trying to borrow. The average rate falls somewhere in the range of 2% to 8%. You can use the funds to invest in the stock, expand your marketing efforts, or finance other areas of operation.

Wayflyer Scaler

Wayflyer Scaler is geared toward major eCommerce companies with annual revenues of over $20 million to address their working capital needs. They have connections to major investment firms and can give you substantial funds on short notice. Each fee is flat, regardless of how much money you borrow. No further charges will be applied. They will give you a cap representing the most money you can receive. This funding amount usually ranges from 1.5x-2x monthly revenue. As long as you don't exceed the agreed amount maximum, you can make financing requests whenever you need them during the arrangement term.

Funding

To help businesses expand their stock and their operations, Wayflyer analyzes their data and wires them money. They pay Wayflyer a set percentage of their sales until the money is repaid, plus a fee for the cash advance. They'll put money in your bank account so you can manage your finances. You can keep using the same payment method in your online accounts; they'll handle making the payments to your vendors. The more money you bring in and the better your marketing does, the more money there will be to spend. You can get cash from Wayflyer by either loading it onto a Wayflyer Card or depositing it into your bank account.

In less than 5 minutes, you may register and submit a financing request. You may expect a response from the Wayflyer team within 24 hours to begin discussing your requirements. The time it takes for the funds to deliver to your account after accepting an offer can range from one to three banking days.

Wayflyer operates in five locations: Dublin, London, New York, Sydney, and Atlanta. Their Facebook page claims they are available anytime to answer any questions their clientele could have.

FAQ

How does a Wayflyer work?

Wayflyer uses analytics and delivers funds to merchants so they can invest in their businesses or buy products. Once the money has been repaid, those businesses pay Wayflyer back a portion of their future sales (plus a fee for the cash advance).

Is Wayflyer a Fintech company?

Yes. Wayflyer business was ranked by Sifted as the third-fastest-growing fintech in Europe last year.

Who founded Wayflyer?

Aidan Corbett and Jack Pierse founded Wayflyer to address growing eCommerce businesses' most pressing issues.

Company documents

Privacy Notice
Terms

We’re on a mission to help eCommerce stores, worldwide, reach their potential.

© Wayflyer

Calculate loan payments in Wayflyer

Wayflyer calculator will allow you to calculate an approximate payment schedule for the loan

Wayflyer calculator
Interest rates are given in accordance with the rates of the Wayflyer in Washington, D.C. as of 25.09.2022
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What to focus on before applying for a loan with Wayflyer

To ensure the lender is legitimate, check if it meets the following criteria:

How do you know if a loan company is registered?

The lending company is registered with the US Securities and Exchange Commission (SEC) and has a tax identification number (EIN). Note that tribal lending companies operate under the jurisdiction of tribal laws, and they don't have to register with the SEC. But still, tribes must act under federal consumer protection laws enforced by the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC).

According to the FTC requirement, the lending company is registered in your state, excluding tribal lenders abiding by tribal and federal laws only. That is why tribal lending companies can charge interest rates exceeding your state's maximum.

Finally, the State Attorney General can verify the registration of the lending company if you need additional proof of whether it is legitimate.

If a US lending company scams you, please report to local law enforcement, your state attorney general, CFPB, or FTC.

Finanso® also recommends

Learn the total cost of a loan, including:

It will be best to read a loan agreement carefully before signing it. If any part of the agreement seems incomprehensible, do not hesitate to ask the lender about particulars.

Remember that you don’t have to make an immediate decision when considering getting a loan. However, you must be sure that you are ready to repay following your loan documents. If the lender’s terms and conditions are uncomfortable for you, you are free to search for another proposal, as there are about 780 lending companies in the US.

What’s the difference between Wayflyer and a bank?

  1. You need to have a good credit history to qualify for a credit card with a bank. In contrast, even bad credit history debtors can borrow money from US lenders with personal or payday loans. 
  2. Interest rates and annual percentage rate for a loan with an online lending company are significantly higher than with a credit card released by a bank.
  3. Applying for an online loan with a lending company doesn’t require paperwork or even visiting their office. Instead, a borrower can apply entirely online and receive money via direct deposit on the next business day.
  4. The online lending business is high-risk for investors, and their capital is not protected from unfair borrowers.
  5. A loan with legitimate loan companies for bad credit is a simple but expensive form of borrowing to resolve financial hardship.
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