FinTech news in DST Global category

The company raised $230 million in an equity and debt Series A round last year, led by Kaszek, and since then expanded into Mexico, growing its client roster over five times to 15,000, growing Mexico revenue by 60 times and launching its new Xepelin Payments product 90 days ago that enables users to organize and automate payments to suppliers, with and without financing.

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.

Refyne has raised a new financing round, just seven months after securing its previous funding, as the Bengaluru-based startup scales its platform that helps workers access their earned salaries in real time.