Wayflyer: On a Mission to Help eCommerce Businesses Grow
In this episode of “ACE It!”, Wayflyer’s Co-Founder and CEO, Aidan Corbett, shares his entrepreneurial journey and startup advice. Wayflyer is the leading provider of revenue-based financing for e-commerce merchants and has provided over $1bn of funding to 1,500 (and counting) eCommerce businesses globally.
In 2019, Aidan spun Wayflyer out of his previous startup, Conjura. He and a team of eight engineers and data analysts left Conjura to form Wayflyer, with investors and employees of Conjura receiving a stake in the new company.
Aidan believes expanding into the US market is a smart move for startups based in the UK, as it offers a larger, more homogenous market with an efficient sales process. The company initially sold into the US from Ireland, learning about the market and its customers before making the move.
When raising funds, Aidan suggests starting with the reasons why a venture capitalist might say no, and addressing those concerns. He also emphasizes the importance of understanding how decisions and actions are perceived by others and the need for clear, deliberate communication.
Aidan faces the challenge of managing a larger organization and keeping employees motivated as the company grows. He believes in providing employees with autonomy while still offering guidance and structure. He also suggests focusing on the four most important tasks of the month and using one’s calendar to ensure that time is allocated accordingly.