Wayflyer plans to issue $2.5bn this year as new funding line launched

Scaler will provide funding lines to e-commerce businesses with annual revenues of $20 million or more

Wayflyer, which is now valued at $1.6 billion, will target Scaler at both new clients and existing customers. Picture: Naoise Culhane

Wayflyer, the Irish tech unicorn, has added a new credit line to its portfolio as part of plans to issue up to $2.5 billion in credit to clients this year.

Scaler, the new product, will provide funding lines to large e-commerce businesses, meaning those with annual revenues of $20 million or more. It gives customers a maximum funding exposure limit, allowing them to use capital how they want up to that cap.

The service, launched today, forms part of Wayflyer’s aggressive growth strategy, coming on the heels of a recent announcement that the company had secured $300 million (€288 million) in debt financing from JP Morgan.