Wayflyer Secures $10.2 Million in Seed Round
Summary
The seed funding round was led by QED Investors (Credit Karma, ClearScore, Nubank, SoFi), with Middlegame Ventures and co-investors Speedinvest and FinTech Investment Vehicle FGFE as the other major participants. This equity financing raise comes as Wayflyer scales to meet strong demand in the eCommerce sector for its funding and analytics offerings suited for small businesses, putting the company on track to reach profitability in 2021. With the support of our investors, we’re building upon this winning formula in new markets and with new capabilities.” To help growing eCommerce brands meet their potential, Wayflyer provides affordable, non-dilutive, unsecured capital up to $5 million for inventory and advertising space. Its funding solutions are tailored for the needs of burgeoning eCommerce and Direct-to-Consumer (DTC) brands for both efficiency and continuous support, pairing ongoing marketing advice with same-day offers generated by its underwriting analytics engine. “Thanks to their funds and crucial feedback on our marketing strategies, we were able to grow our Instagram by 290% since 2019, a huge win when you consider accounts of similar size only averaged a 29.9% growth rate during the same time frame.