In 2023, the world of ecommerce and Amazon was like a supercharged rollercoaster, with innovations popping up left and right. It was so successful that even the term “business as usual” got jealous. In an industry where change happens fast, each new development was a high-five from the future, reminding us that ecommerce has come a long way from the dial-up days to the age of drones and same-day deliveries!
Among the wide array of service providers available to ecommerce and Amazon sellers, Viably saw an opportunity for working capital in a whole new way. Our Viably Growth Capital for ecommerce business owners launched in 2023 to make funding and working capital for ecommerce sellers easier, faster, and yes, more about the partnership than the transaction. Our team offered new and cutting edge solutions for working capital, more quality resources and education in financial management, and exceptional customer service that can’t be found anywhere else–all in the name of helping sellers dream boldly.
To end 2023, we’ve taken some time to reflect on a few key milestones from the year.
Off and Running: More Customers and Funding than Ever
At Viably, 2023 was a year of remarkable growth, with emphasis on taking our customers and their businesses to new heights through tailored funding opportunities. In pursuit of this mission, we provided over $5 million in funding to customers (not too shabby for the new kid on the block), ensuring that they could grow and expand their ecommerce businesses sustainably and in line with their growth goals. By taking the time to connect with each customer on an individual level, our Customer Success Specialists made a few friends and were able to truly get to know each customer’s business and tailor a funding solution to their needs.
Viably customers were able to use personalized funding to grow their ecommerce and Amazon businesses in a wide variety of ways–from greater buying power for inventory to investing in marketing and launching new product SKUs. While each of our customers used funding from Viably in a unique way, they all were able to grow their business based on their own long-term financial goals, and, in many cases, surpass them.
One of our favorite quotes from a customer this year:
“In a world run by automation and robots, Viably provided a private banking experience and real human interaction. Working with real people helped me trust Viably because they knew my business and I knew them.
Viably Wholesaler Accelerator Launch
Viably made history in 2023 by being the first ecommerce funding provider to offer a product designed specifically for wholesalers. Launched in November, Viably Wholesaler Accelerator filled a gap in tailored working capital to better meet the needs of Amazon wholesale sellers and further Viably’s commitment to supporting all sellers on Amazon.
Viably Wholesaler Accelerator is unique to any other working capital product available on the market thanks to its ability to provide sellers with planned, recurring funding rounds based on their cash and sales cycles. This cyclical model allows sellers to have enhanced buying power and structure remittance to optimize and streamline cash flow.
Debt Facility Acquired
When people ask us what we do, we always say “we give you money.” The immediate next question is “okay, but where does that money come from?” The launch of Viably Wholesaler Accelerator was accompanied by the acquisition of a $50 million debt financing facility secured from long-time investors Viola Credit. This shiny new debt funding facility enabled Viably to further provide ecommerce businesses of all models, sizes, and strategies with the working capital they need to thrive and grow.
New Content and Friends
In our commitment to prioritizing financial literacy and success for all ecommerce sellers, Viably published over 100 new resources available to the entire ecommerce community. This included blogs and guides, knowledge base articles, podcasts and webinars generating dozens of hours of content, five new customer success stories, and countless social media guides.
In addition to our own content, we often partnered with leading industry experts and complimentary service providers to bring our customers the best tools and up-to-date offers. With a partner directory covering every service a seller could need, Viably has committed to outstanding expertise to every customer.
In 2023, Viably forged impactful partnerships within the ecommerce ecosystem, significantly enhancing their influence and capabilities.These partnerships aren’t just game-changers; they’re almost the cheat codes in the grand quest of the ecommerce ecosystem–unlocking levels of efficiency, innovation, and success previously thought to be mythical. We can’t say thank you enough to our partners who took a chance on the new guy this year!
Viably IRL Events
We embarked on a road trip across the good ol’ U.S. of A, rubbing elbows with sellers, having coffee with industry allstars, and eavesdropping (kidding… kind of) on our customers’ wishlist for their dream funding provider. Not only did we educate sellers about cash flow, we also had the opportunity to learn from the best of the best (you know who you are!) and discover gaps that could be filled.
We’re proud to have attended a wide variety of events, including hands-on based seminars like EcomSummit, the inaugural wholesaler-specific AMZ United, and industry leading Prosper Show, among many others.
The War in Israel
When acknowledging the significant global events in 2023, it is impossible to overlook the impact of the distressing terror attack that occurred in Israel on October 7th. This made Q4 an incredibly difficult period for the entire Viably team as many of our team members call Israel home. Our team members participated in active military service, volunteered to help their community recover, all while taking care of themselves and their families.
After the initial shock, Viably’s business remains uninterrupted and will persist in its operations. The team is back operating and united to continue and grow Viably. As an industry, as Iraelies, and as a team, we are experienced, resilient, and will overcome this crisis.
Among the many challenges and opportunities of 2023, Viably has had the most exciting year. While our business continues to evolve and grow in order to meet the needs of our customers, we will continue to strive to create great success for both our own company and those of our customers. After over ten years of ecommerce out in cyberspace, it’s still the cool kid who hasn’t peaked yet – there’s a ton of success waiting to be unlocked with the right squad of resources and providers!
Hold on to your seatbelts because in 2024, Viably is gearing up to be your partner for even bolder dreams and soaring to new ecommerce heights! We’re practically putting on our superhero capes, ready to tackle the year with a mix of ambition, flair, and a dash of caffeine-fueled enthusiasm! Get ready for a year of Viably-fueled adventures – it’s going to be a wild ride!