Connected Connected newsletter: Wayflyer flies higher as EU goes after Big TechConnected at the Business Post is your source for the news that matters in technology and innovation, all told from an Irish perspective
Companies Revealed: Irish unicorn Wayflyer paid €10 million for start-up PebloFounder Jake Browne to use proceeds to launch digital advertising house Veblen Giffen after turning down €500k investment in order to maintain control
Tech Wayflyer co-founder Jack Pierse to leave the businessPierse, who is also Wayflyer’s chief financial officer, co-founded the business with Aidan Corbett in 2019
Finance Wayflyer to focus on profitability after renewal of $300m debt dealFlexible funding firm to double down on US activities which makes up 60per cent of its profit
Tech Wayflyer renews debt line, hits $2bn in loans providedIrish tech unicorn led by Aidan Corbett and Jack Pierse has dished out €1.2bn in loans to ecommerce companies in the last 12 months alone
Stock Take Revolut devaluation is just the latest sign that private markets are still correctingPrivate investment houses that sank money into tech firms over the last three years when valuations hit record highs are now looking at portfolios that are worth far less
funding Wayflyer’s $150m fundraise was Ireland’s biggest venture capital deal of 2022Overall venture capital funding was roughly flat in 2022, but there was a drop towards the end of the year
Today's headlines Wayflyer to cut 200 jobs with 70 lost in Dublin; Ryanair’s war of words with Eamon RyanThe biggest stories from the worlds of politics and business in today’s Business Post
Tech Wayflyer to cut 200 jobs with 70 roles lost in DublinIrish tech unicorn relocating 10 jobs from US to Ireland as it admits it tried to scale too quickly
Tech Wayflyer to deploy $200m to online businesses in four new European markets Company, which achieved unicorn status earlier this year, currently supports over 300,000 businesses
Companies Tech unicorn Wayflyer secures new $253m debt financing facilityFacility will allow Dublin-headquartered company to quickly provide funding to more e-commerce businesses in the US and Western Europe
Companies Wayflyer plans to issue $2.5bn this year as new funding line launchedScaler will provide funding lines to e-commerce businesses with annual revenues of $20 million or more
Tech Wayflyer secures $300m in debt financingJP Morgan, who participated in a recent $150m raise for Wayflyer, is providing financing with Neuberger Bermann acting as a mezzanine provider
Wayflyer snaps up Peblo in multimillion euro dealAcquisition provides Irish tech unicorn with direct access to a range of creators that it can then pair with its ecommerce customer base
Wayflyer investor expects more services from the unicorn as partnerships growYusuf Özdalga, one of Wayflyer’s earliest investors, is confident the Irish start-up will grow quickly and provide more revenue streams in the near future
New unicorn Wayflyer will expand in France and Germany Valued at €1.4 billion after its latest funding round, the Dublin-based e-commerce firm plans to penetrate the European market
Wayflyer latest Irish company to achieve unicorn status with $1.6bn valuationThe latest funding round comes off the back of a significant period of growth for the Dublin-based business
