About Wayflyer
Wayflyer provides financing to some of the world’s top consumer brands. With fast financing and flexible terms, they have helped many brands get the funding they need to grow and scale.
Pauric McGorry, Director of Sales Operations at Wayflyer, shared the growth and success the team has experienced from their long-standing partnership with Charm. Wayfler was founded in 2019 and started using Charm in 2020. The company grew to be Ireland’s quickest-ever unicorn, achieving a $1 billion-plus valuation in just two and a half years. Pauric shared that Charm is their primary data platform, and he said, “All of our revenue syncs back to Charm.”
Wayflyer Uses Charm to Build Their Total Addressable Market (TAM) & Prospect for High-Growth DTC Brands
Wayflyer was initially searching for an ecommerce analytics platform to efficiently find highly qualified prospects. “We wanted to get to a place where we weren’t prospecting aimlessly,” said Pauric. The goal was to build out a Total Addressable Market (TAM), save time prospecting, and pinpoint the right companies to reach out to.
In the post-COVID era, businesses needed assistance to buy inventory and sustain growth. Since many new ventures have difficulty securing traditional bank financing, Wayflyer helps them get the funding solutions they need to grow and scale.
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Building a TAM based on Specific Criteria
The Wayflyer team was impressed by Charm’s ability to build a TAM based on their specific criteria. Beyond looking for ecommerce brands experiencing high growth, Wayflyer also looks for companies that sell multiple products, run ads, have distribution across large retail stores, and are based in North America, EMEA, or Australia.
Wayfler uses Charm’s Prospector to find perfect matches for their ideal customer profile by leveraging the platform’s filtering capabilities. “It was really easy for us to run lists based on triggers... we could run pretty specific targeted lists,” said Pauric.
Measure Company Growth with The Charm Growth Score™
The Wayflyer team also loves how, unlike other data solutions, Charm is able to measure company growth. “One of the key metrics we use is the Charm Growth Score™...If we can identify companies that are growing and exhibiting positive signals, it provides the best indication that they might need, should need, and will need financing in the future,” said Pauric.
Wayflyer Uses Charm on a Weekly Basis to Save Time and Access Accurate Ecommerce Data
For the Wayflyer team, using Charm is a crucial part of their data collection process. “There are reps that… definitely use Charm weekly,” said Pauric. He outlined that the sales teams will regularly log in to Charm to find lists of accounts that meet their desired criteria so they can put them in their name and begin outreach.
“A lot of the data we have in Charm feeds into our CRM,” said Pauric. Charm Growth Score™, Instagram followers, Facebook followers, year founded, and company size, are just a few of the metrics that help the Wayflyer team tier and score companies to prioritize the highest-value prospects.
“We have hundreds of thousands of companies that we can go after. It would be really inefficient for us to go after the wrong types of companies,” said Pauric. If the Wayfair team didn’t have Charm it would be nearly impossible for them to identify qualified prospects at scale - directly impacting their underwriting pass rate and, consequently, revenue.
Charm Data Fuels Wayflyer’s Revenue
Charm’s in-depth ecommerce data has been instrumental to Wayflyer’s growth and success.“You could argue that all our revenue comes from Charm, “ said Pauric.
With Charm’s depth of data and detailed scoring system, Wayflyer was able to close deals and generate revenue quickly. “[Charm] has helped allow us to scale. We’re still only five years old and in that time we grew to be Ireland’s quickest-ever unicorn valued at over $1 billion,” Pauric shared.
“Charm is our primary data source… Data coverage and data quality [is] the best that we’ve seen compared to all the tools we’ve looked at. At a price point that makes sense for us as well, so it’s a no-brainer,” concluded Pauric.
Through Charm’s robust data capabilities, Wayflyer has effectively streamlined its prospecting efforts, maintained a high underwriting pass rate, and scaled to become a leading force in financing high-growth ecommerce businesses.
Grow Your Business with Charm
We are extremely proud that Charm’s platform has contributed to Wayflyer’s success as we pride ourselves on providing customers with the world’s best ecommerce data and insights.
Book a Charm demo today to learn how to get in-depth ecommerce insights, build the perfect pipeline according to your ideal customer profile, and close more deals.
