Apollo-Backed Fund Lends Wayflyer $250 Million to Finance SMEs

An Apollo Global Management Inc.-backed fund has loaned an Irish fintech unicorn $250 million that will allow it to lend to small businesses looking for capital.

Financing platform Wayflyer secured the two-year credit facility from ATLAS SP Partners, a warehouse finance and securitized product business backed by Apollo, according to a statement from the company. The funding will be deployed directly to founders.

It is secured against the loans that the start-up funds with the ATLAS facility, Wayflyer Chief Executive Officer Aidan Corbett told Bloomberg.

The Dublin-based startup has passed $100 million in annual revenue and counts around 60% ...