Is Wayflyer a reliable option for revenue based financing?

Is Wayflyer a reliable option for revenue based financing?

Zakami
Visitor
3 0 0

Hi,

 

Does anyone has an experience with Wayflyer?

 

I`m looking for a revenue based financing option and someone recommended Wayflyer, but it automatically wants to integrate with my Shopify store as an app. But the app hasn`t been reviewed by Shopify and it concernes me.

Does anyone used it before? Any other ideas?

 

Many thanks,

Melinda

Reply 1 (1)

JosephQuartana
Tourist
4 0 2

I've taken two rounds of financing for my Shopify e-com store from Wayflyer.  
Each time I was quickly approved and had funds in place, and paid back each with no problem, which is easy, they just take say 15 to 17% of sales so you don't really feel it.
I was just about to apply a third time, and this time they said there is financing for us, which I was depending on for my seasonal BFCM push, with their answer being that I already have too much exposure, though I'm not sure how they concluded this since I not only didn't provide any information on my other financing channels, I don't HAVE any other exposure in the first place, in other words they just flat rejected me and in VERY RUDE FASHION, so the upshot is yes you can get funds from them, but don't get used to a regular pattern if you are a seasonal business like ours, the algorithm might just decide to reject you for no reason and leave you high and dry like they did me!