Wayflyer to fund rapid growth with €288m JP Morgan debt line

The Irish unicorn provides firms with non-dilutive, unsecured working capital by buying a portion of their future sales

Wayflyer Co-Founder Aidan Corbett: 'As we scale we need really strong external finance partners.'

Irish fintech Wayflyer has secured and begun deploying $300m (€288m) in debt financing from JP Morgan and now expects to advance up to $2.5bn (€2.4bn) to e-commerce firms this year.

Wayflyer, which provides firms with non-dilutive, unsecured working capital by buying a portion of their future sales, said earlier this year it would lend over $1n (€0.96bn) in 2022, but chief executive Aidan Corbett told Reuters its growth was ahead of forecast and now expects to do $2-$2.5bn.