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With ECL financing, virtual assistant marketplace Wing achieved transformative results:

- Wing received $1.4 M in financing,

- Invested those funds in growth and marketing,

- Achieved a staggering 210% annual growth rate

How did Wing make revenue-based financing work for them?

Introduction to Wing

Wing is a truly global venture, operating a thriving marketplace for virtual assistant services. It sets itself apart with twin missions:

- 1. Helping SMEs in North America and Australia find affordable, quality outsourcing.

- 2. Empowering talent from India, the Philippines, and several Latin American countries, to find well-paid jobs that utilize their skillsets.

Wing pairs these assistant services with its Wing Workspace app for chat, task management and file sharing. Since its founding in 2018 it has raised $2.2 M in seed funding from Surface Ventures and SkyDeck - and employs over 700 virtual assistants worldwide.

The Turning Point: Seeking Accelerated Growth

Mid-2023, Wing’s leadership team decided it was time to press the gas pedal on growth. The four co-founders with backgrounds spanning tech, to consulting - decided they were ready to scale. Their aim was to bring their unique service to more businesses and more skilled workers around the world.

Discovering the Right Partner: Efficient Capital Labs

Wing’s Co-Founder and CMO Roland Polzin learned about revenue-based financing early on in Wing’s growth journey. With a growing customer base and revenue, Wing applied for and successfully received offers from multiple revenue-based financing providers. Efficient Capital Labs stood out as a partner. Beyond the competitive rates they offered, it was the element of trust that sealed the deal for Wing.

In the words of Roland Polzin: “When it comes to borrowing money, it's important to feel that we have a partner we can trust. And that was certainly the case with Efficient Capital Labs.”

In mid-2023, Wing took $500,000 of financing from ECL. Later that year, Wing took an additional $900 K of financing.

Impact: A Leap Forward in Growth

Customer acquisition & growth

Wing took this funding and put it straight into delivering results.These funds were deployed as marketing dollars. With a focus on marketing, Wing could reach new markets and tap into fresh user segments. Polzin notes “we have a pretty favorable payback period [on customer acquisition costs]. So essentially every dollar we spend in advertising is [returned] within two or three months.”

Wing hit a 210% annualized growth rate in the months following its financing from Efficient Capital Labs. The investment of the dollars in revenue-generation helped Wing grow sustainably. This is a testament to not just the effectiveness of the borrowed capital, but also to the company's adeptness in utilizing it.

According to Polzin “the new revenue will stick around for longer and ultimately makes our business more valuable.”

Bridge funding to Series A round

Wing’s leadership team is laser-focused on achieving milestones in their revenue numbers and technology. As a rapidly growing and VC-funded startup, Wing plans to raise their Series A. Revenue-based financing is helping Wing to bridge the gap.

The right partnership can be the difference between stagnation and rapid growth for a startup. For Wing, financing from Efficient Capital Labs enabled the company to invest in results.