Announcing Wayflyer Scaler: our newest offering to help solve the working capital challenges of large eCommerce businesses

Date
June 16, 2022
Category
News
Written by
Aidan Corbett

Over the last two years, we’ve learned a lot about the problems faced by eCommerce businesses. Especially when it comes to managing finances and cash flow.

Our first product, Funder, was created to give businesses immediate access to funding. Funding that they could use to pay for an inventory order, or to spend on a marketing campaign.

But as we started to work with larger and larger eCommerce businesses, we found they had a different set of problems.

Firstly, they need a lot more capital. If you’re running a large, high-growth eCommerce business, you are always investing 3-12 months ahead of your growth. You need to invest in the long term (product development, hiring and operations) as well as the short term (inventory and marketing). This means you need a lot of working capital.

Secondly, managing and forecasting cash flow becomes much more difficult. You have more expenses. More suppliers, more marketing initiatives, more employees. Instead of making a handful of inventory orders a year, you now make dozens. You’re also selling multiple products, often in multiple geographies, making forecasting your sales much harder. You need to make decisions on what you can and can’t invest in. But it’s incredibly difficult to make these decisions without knowing what cash you will have access to and when. For large eCommerce businesses, managing working capital becomes a top priority.

Finally, the bigger you get, the more conscious you need to be of your cost of capital. Managing costs and profit margins is top of mind for CEOs and CFOs of these businesses, especially in the current environment we find ourselves in, in June 2022. Therefore, businesses don’t just need access to funding, they need it at affordable rates.

To be able to scale your business, you need to be able to plan with confidence. You need to know you will have the capital you need to pay for all your expenses and invest in growth. And you need to be able to do so without increasing your cost of capital.

That’s why today, I’m excited to announce our newest finance product for large eCommerce brands, Wayflyer Scaler.

Wayflyer Scaler provides eCommerce businesses that generate over $20 million in annual revenue with pre-approved access to large amounts of capital, at affordable rates. Scaler gives these businesses certainty over future cash flow, allowing them to plan ahead with confidence. It’s a simple, flexible and affordable working capital solution, designed specifically for large eCommerce businesses

So, how does Wayflyer Scaler work?

  1. eCommerce businesses apply to Wayflyer for access to funding
  2. Businesses get approved for a capital limit - up to two times their monthly revenue. This is the total amount of funding that they will have available to use.
  3. Businesses can then easily access this capital, up to their max limit, as they need it.
  4. As businesses grow, they can increase their capital limit and continue to fund their growth.
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Wayflyer Scaler customers will benefit from:

  • Large amounts of capital: Up to two times monthly revenue (this scales as you grow)
  • Affordable rates: We strive to offer the best rates in the market and are backed by market-leading institutions
  • Quick decisions: Our application process is simple and you’ll get a decision in days, not months
  • No Dilution: Remain in full control of your business
  • No security requirements: Wayflyer doesn’t seek any personal guarantees or collateral.

Wayflyer Scaler is available for any eCommerce businesses with annual revenues above $20 million. Our focus has always been on making it easier for eCommerce businesses to grow. To give them the tools and funding they need to reach their potential. This is another exciting step for us on that journey.

If you’re interested in using Wayflyer Scaler to fund your growth, you can learn more here.

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Written by
Aidan Corbett
Aidan Corbett is Co-Founder & CEO at Wayflyer

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