Ecommerce Flexible Funding Wayflyer on the NexxtLevel Podcast

Are you an eCommerce business in need of extra cash for inventory or marketing?

My guest today is Jay Puentes, Sales & Business Development Leader at Wayflyer. Wayfler provides flexible funding and actionable insights to the world's fastest-growing eCommerce businesses. They help businesses worldwide reach their growth potential by providing financing & analytics solutions to improve cash flow, drive sales & optimize supply chains.

Jay joined Wayflyer in 2021 from fintech start-ups ChargeAfter, headquartered in NYC, and GreenSky, headquartered in Atlanta, where he primarily focused on the eCommerce space.

In this episode, you’ll hear about how Wayflyer determines who and how much they will fund with unsecured cash deposited directly into your bank account.  Wayflyer should be considered as a complementary source of funding, for primarily inventory and marketing, outside of your typical lines of credit or open facilities. While they have provided capital ranging from $10,000 to $20 million, their average customer requires in the $200-$300,000 range.  And as Jay points out, even if you don’t qualify today, you may reach a qualifying level in just a few more months.

The “NexxtLevel Brands Podcast’ is hosted by G. Steven Cleere, Founder and “Chief Pot Stirrer” of NexxtLevel Brands. This show focuses on disruptors and thought-leaders from the Entrepreneurial Food, Beverage, and CPG Industry, but we also share tips from veterans and key suppliers that may help fellow CPG professionals achieve their goals.

Discussion Points

• #1 mistake CPG entrepreneurs make is not having access to capital
• It’s a great time for entrepreneurs, low barriers to entry in eCommerce
• Wayflyer’s founding story and background
• Determining credit-worthiness - Wayflyer looks at revenue, profitability etc. and matches cash conversion schedule, a custom approach
• No niche lending areas - anyone who sells a physical product
• Success stories
• Top line sales – average size $200,000-300,000. Wayflyer funds anywhere from $10K to $20M range. Even if you don’t qualify now, you may soon
• Inflation and rates - Wayflyer is in collaboration with JP Morgan, offers complementary capital toyour line of credit or open facility.
• How deeply does Wayflyer dig into your books? They analyze Shopify/Amazon revenue, looking at your future/where you are now
• Process - fill out a consult form first on the Wayflyer website, then chat about feasibility
• Buy Now/Pay Later - consumers now expect it, Wayflyer’s money is unsecured, cash into your account
• Seasonal businesses - need to know terms and lead times to match cash to cycles
• Building the Wayflyer team - fast growth over last 14 months, working with biggest names in eCommerce, Q4 is biggest time of the year
• Words to grow by: Founders and CEO’s - don’t wait til the last minute to discover what capital is available, understand your options!

Resources:

Wayflyer Website

Jay Puentes LinkedIn

NexxtLevel Brands Website

G. Steven Cleere LinkedIn