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Fortress to Purchase $1.5 Billion of Loans By Fintech Unicorn Wayflyer

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Fortress to Purchase $1.5 Billion of Loans By Fintech Unicorn Wayflyer Fortress Investment Group has agreed to buy as much as $1.5 billion of loans originated by fintech unicorn Wayflyer to underpin the Irish finance platform’s growth. Wayflyer, a non-bank lender financing small businesses globally, has agreed for funds managed by affiliates of Fortress to purchase the assets in a three-year arrangement, the company said in a statement. An Apollo Global Management Inc.-backed fund separately...

Fortress to Purchase $1.5 Billion of Loans By Fintech Unicorn Wayflyer Fortress Investment Group has agreed to buy as much as $1.5 billion of loans originated by fintech unicorn Wayflyer to underpin the Irish finance platform’s growth. Wayflyer, a non-bank lender financing small businesses globally, has agreed for funds managed by affiliates of Fortress to purchase the assets in a three-year arrangement, the company said in a statement. An Apollo Global Management Inc.-backed fund separately gave Wayflyer a $250 million credit facility in February.
Wayflyer (PERSON) Irish (ORG) Fortress (ORG) Apollo Global Management (ORG)
Originally published by Bloomberg Markets Read original →