FinTech news in Adobe category

To underscore the demand for solutions to address this, today a startup called Wayflyer — which has built a new kind of financing platform, using big data analytics and repayments based on a merchant revenue activity — is announcing a big round of funding, $150 million. In terms of competitors, the size of the loans it typically makes, and the frequency — depending on the nature and size of the customer, loans could be made as frequently as monthly — has partly meant that Wayflyer doesn’t compete against, but complements, some of the other companies that have emerged as financiers to e-commerce businesses. E-commerce has continued to boom in the wake of the COVID-19 pandemic, but running an e-commerce business has also become significantly more chaotic, with unpredictable supply chains, logistics hiccups and overall higher costs upending even the best-laid plans. The company’s technology is a classic big-data play: It uses a number of sources of data, from Shopify and Woo Commerce through to TrustPilot reviews and Google Analytics and even wider information about how shipping services are performing, to determine how a merchant is doing as a business.