Powerlete

In the fiercely competitive athleisure market, Powerlete, a brand born from a passion for fitness and lifestyle, teamed up with Wayflyer to scale new heights.

Challenge

Starting just before the holiday season in 2022, Powerlete’s initial sales were a modest £6k in their first six weeks. By March sales were growing. By July, the brand had blown up, and with it came their first hurdle. They needed to build on the momentum by expanding their product range. Traditional financing options were either too rigid or inaccessible, given the brand's nascent stage and the dynamic nature of the eCommerce sector.

Solution

Wayflyer stepped in with funding to allow Matt to achieve his goals, allowing him to expand the range, introduce new colorways and double down on the products he knew were a hit with customers. By analyzing data from Powerlete's eCommerce analytics and advertising platforms, Wayflyer offered a flexible, revenue-based financing solution that was aligned with Powerlete's growth trajectory. This approach enabled Powerlete to expand its inventory without the constraints of traditional financing, fueling its aggressive growth strategy.

"Wayflyer's understanding of eCommerce dynamics made them the ideal partner for us. Their flexible financing solution was a game-changer, enabling us to scale our inventory in line with our growth." Matt Elms, CEO, Powerlete

Results

The partnership with Wayflyer marked a turning point for Powerlete. With the infusion of capital, Powerlete expanded its product range, leading to a significant uptick in AOV and conversion rates. This expansion not only met the immediate surge in demand but also positioned Powerlete as a mainstay within the notoriously picky fitness community. They’ve successfully built a family of athletes and followers that number over 24,000 strong and serve customers in more than 25 countries through its online store​.

Thanks to Wayflyer, we were able to shatter the glass ceiling. Their tailored financing approach allowed us to capitalize on our early success and set new benchmarks for our brand.