Super excited to announce that @mandalascrubs ranked as Americaโs 16th fastest growing company on the #Inc5000 list ๐
No. 3 in consumer products
17,773% growth ๐
A big thank you to our partners @Shopify , @tobi , @harleyf , @usesettle@wayflyerapp for helping us along the way!
We ended up leveraging Wayflyer for 400K to front Q4 inventory. Our interest of 8% (32K) is definitely expensive, but it was our only option and I am so glad we took it. That extra inventory alone sold in Q4 to bring in an additional 3.5M in sales for the year.
Iโd rather spend the 32K to make 5M vs. spending $0 on debt to make 1.5M.
.@jeremygiffon on @InvestLikeBest talked about the opportunity to broker misaligned incentives between VCs and management teams in non-venture growth outcomes, i.e. VCs have mentally written off due to need for power law returns, and founders have due to heavy liq pref.
We are delighted to share that we have renewed our $300m debt line with @jpmorgan.
With eCommerce founders looking for long-term sustainable financing partners, this renewed line gives us the most secure and competitive offering on the market.
Wayflyer has now deployed over $2 billion in funding, 60% of which has come in the last 12 months.
https://t.co/uVNPD2BprG
If you have ever looked at your eCommerce performance and wondered "is it me, or is it the market?", then here is a free tool you might be interested in.
@BillDA@lifeofbi Ah Bill!
Our bigger partners will use a combination of:
- Wayflyer Custom Financing
- Wayflyer Scaler (LOC)
- Wholesale Financing
All operate differently to your traditional MCA.
Confident we could save Elements $$$ ๐
@BillDA@lifeofbi The power of building great teams & understanding eCommerce. Impeccable use of working capital vs their own cash. Three of the top operators utilising @wayflyerapp@BillDA must be good for something eh?
@Avishai_Bitton@andrewjfaris@BillDA Couldnโt agree more Avishai. Without context on the business goals, the view on the cost of this lending is pretty counterintuitive for founders. There has been no transparency traditionally with Clearbanc / Shopify but the space has come along way since then.
LeBron last night reflecting on his favorite Kobe Bryant memories. Itโs unbelievably sad watching this knowing Kobe died less than 24-hours later. #RIPKobe#BlackMamba