E-commerce financing platform Wayflyer has acquired social media creator funding provider Peblo.

The Irish FinTech said the purchase of Peblo, for an undisclosed amount, would allow it to gain a significant stronghold in the influencer marketing space.

The acquisition comes after Wayflyer raised $150 million in a Series B fundraise in February, which has brought the Dublin-headquartered FinTech’s valuation to $1.6 billion.

Peblo provides cash flow funding to social media and online content creators and aims to plug the gap between upfront cost and client payment.

Wayflyer said there are currently around 2 million online content creators globally earning an average of $100,000 a year.

However, the company said that many can expect waiting times of up to 120 days for payment for sponsored posts and content by their partner brands, which can restrict their ability to scale their business.

The deal will enable individual creators to access up to $2 million in financing, and Wayflyer said it expects to advance over $500 million to creators over the next year.

In addition to cashflow solutions, Peblo, which will continue to operate as a standalone brand, will now be able to connect influencers with relevant e-commerce brands through Wayflyer’s platform.

Peblo’s team of team of six will join Wayflyer’s growing team. Wayflyer grew its headcount by 525 per cent in 2021 and is looking to hire over 400 people globally by the end of this year, the company said.

Aidan Corbett, chief executive and co-founder of Wayflyer said: “By 2026, there will be an expected 15 million influencers worldwide, so the creator market is one that is too fast-growing for us to ignore. This strategic acquisition means that both online brands and the creators they partner with to market their products will benefit from our best-in-class underwriting, funding and marketing analytics.”

He added: “The most exciting part of this acquisition for us is that it allows us to offer our customers a direct link to the best-suited creators that can help their business thrive.

Jake Browne, Peblo chief executive and co-founder, said: “Wayflyer is one of Europe’s fastest-growing FinTechs.

"We are delighted to become a part of its impressive story. Aidan and the team’s knowledge of the internet economy is second-to-none. Content creators are largely ignored in financial services, and by leveraging Wayflyer’s incredible resources we will now be able to change that.”

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