Naturecan, founded in May 2019 by Andy Duckworth (former CEO of Myprotein) and Paul Finnegan, is a global CBD brand focused on offering premium, safe and effective hemp derived products. They offer a natural alternative to common health complaints such as chronic aches and pains as well as a wide range of other health related products such as vitamins and minerals.
Now selling in 35 countries, Naturecan is focused on offering the highest quality, innovative products, to a global audience.
As they grew, the biggest challenge Naturecan faced was cashflow which Andy describes as ‘keeping the blood flowing through the veins’ of the business. As Naturecan entered new countries, they were seeing massive demand for their products. However, in order to meet this demand, they needed stock.
Working with Wayflyer
In order to grow the business, Naturecan needed funding for inventory spend. “We took our first funding from Wayflyer in June 2020. We found the team hugely helpful, fast acting and they offered a very competitive fee” says Andy.
“We have taken additional funding many times since and built up a very good relationship with the Wayflyer team based on trust".
Increasing sales by over 300%
The funding provided by Wayflyer has enabled Naturecan to have inventory readily available in the markets they serve. With the funding received to date, Naturecan has increased sales by over 300% YOY.
“Wayflyer has been a great partner for Naturecan, they provide excellent metrics on our business. They have grown with us as we have gotten bigger and entered new markets” explains Andy.
What’s next for Naturecan?
Naturecan have big goals. They’re continuing to expand to new countries and want to be the global online leader for hemp derived products. They remain focused on providing their customers with high quality products and hope to double the size of their business in the coming year.
“Wayflyer are a key player for helping ecommerce businesses like ours reach their global ambitions”.