NBXG - Neuberger Berman's $1B Investment In Wayflyer Set To Transform E-commerce Lending | Benzinga
E-commerce revenue-based finance provider, Wayflyer announced that it has signed a $1 billion funding deal with investment firm, Neuberger Berman (NYSE: NBXG). The funding, which is an off-balance sheet (OBS) program, will support Wayflyer’s growth and expand its financing solutions.
Wayflyer customers usually take out loans between $300,000 to $400,000 for inventory purchases, shipping costs, and other big-ticket items required for running an e-commerce business.
Agreement Details
The agreement involves a potential acquisition of up to $1 billion in assets from funds administered by Neuberger Berman, with no specified timeframe for the transaction. Irish-based Wayflyer will use the capital to pay down ...