Irish e-commerce FinTech expands in Atlanta market, expects to hire swiftly
After a $ 76 million Series A funding round, Irish startup FinTech Traveler has its eyes on Atlanta.
With a focus on providing flexible financing options for growing e-commerce brands, the CEO Aidan Corbett told Hypepotamus that 75% of the company’s customers are in the United States. Wayflyer already has offices in Dublin, New York, London and Sydney, so Atlanta’s FinTech and eCommerce talents have made it a natural next step.
“With over 2 billion people worldwide shopping online, the e-commerce industry continues to experience double-digit year-over-year growth, â€Puentes said. â€œYet despite exponential growth, e-commerce companies continue to have inherently difficult working capital issues, limiting their opportunities for growth. Wayflyer is uniquely placed to address these issues and help e-commerce entrepreneurs unlock their potential. In the past three weeks alone, the Wayflyer US team has doubled from 7 to 15, and I look forward to leveraging the extensive local area network I have built over the past decade to oversee the expansion. In the region.
The team plans to hire approximately 50 people in its Atlanta office this year with customer support, marketing and underwriting, and business development roles. Although a specific office location has not been announced, the team plans to open somewhere along the BeltLine.
“We believe this combination of local e-commerce sales talent and Wayflyer expertise will be powerful in ensuring the success of our new US headquarters, â€Corbett told Hypepotamus.
FinTech in the e-commerce space
Sitting at the intersection of e-commerce and fintech offers a unique opportunity for Wayflyer to emerge from the pandemic. The startup was initially born out of The previous business of Corbett and Pierse, a data analytics company called Conjura. The duo saw an opportunity to underwrite emerging e-commerce companies with short-term funding options.
The team’s first month, April 2020, brought in around $ 600,000 in cash advances.
Less than a year later, that figure rose to $ 36 million.
Trends in e-commerce, especially around marketing, have contributed to Wayflyer’s continued growth.
â€œThe pandemic has definitely boosted consumers’ appetites to shop online and most of our customers have benefited,â€ Corbett told Hypepotamus. â€œPlus, at the start of the pandemic, there was tremendous value to be found in online marketing. Many companies cut their online marketing budgets early in the pandemic, and as a result, CPCS fell dramatically. The companies that kept their spending online had real added value and we were able to explain that to our customers and help them fund their marketing campaigns, with great results. ”
Wayflyer has also helped small e-commerce brands overcome supply chain disruptions by offering more flexible financing options.
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