E-Commerce Success Stories » Diamond Whites Working Capital Success Story
INDUSTRY
Healthcare
CHALLENGE
Make dentistry more accessible (and less scary) by offering flexible payment plans.
RESULTS
110% year-over-year growth (and lots of smiles).
SOLUTION
—Ben Reed, CEO and Cofounder of Diamond Whites Aligners
Nobody likes going to the dentist. But sometimes it’s the things we dread most that lead us to our best opportunities.
That was the case for Ben Reed who was in a dentist’s chair when he was hit with a lightning-strike idea. Reed realized oral care was inaccessible for many, and he wanted to change that. But dentistry and orthodontia are notoriously (and often prohibitively) expensive. Delivering on the promise of “Straight teeth, without the expense” isn’t as easy as it sounds.
Reed partnered with dentist-to-the-celebrities, Dr. Richard Marques, who after years of transforming smiles, was just as passionate as Reed about bringing high-quality oral care to the masses. Together they created Diamond Whites Aligners (DWA) in 2012 with the mission of making dental care accessible.
Already offering an online service portal, the cofounders expanded the brand’s reach via virtual consultations across the UK. In addition to a strong digital presence, Diamond Whites grew to 45 brick-and-mortar clinics nationwide, enabling customers to easily pop in for a consultation. Home-based customers can access AI-enabled remote patient monitoring for customized support — the first of its kind in the invisible aligner space.
Diamond Whites was delivering a true multichannel experience to an underserved market. But that was just the start. The team at Diamond Whites wanted to make its products even more accessible by providing flexible customer payment options.
To do so, Diamond Whites wanted to offer 12-month non-regulated loans as payment options for its most-popular products. In order to do this, the team needed an e-commerce funding partner that could help it access capital as needed so that Diamond Whites could become a lender to its own customers while maintaining existing sales and inventory.
Given the customer-centric approach, the Diamond Whites cofounders wanted a funding partner that shared DWA’s values and also understood the importance of strong communication and support. Reed wanted a partner that knew e-commerce and finance, one that could help the team achieve sustainable long-term growth.
—Ben Reed, CEO and Cofounder of Diamond Whites Aligners
“I was introduced to SellersFi via a broker that we use regularly. They introduced it to me as a platform that’s easy to use, quick to plug in, and offers flexibility of loan terms,” recalls Reed. Like any entrepreneur in search of the right partner, Reed had specific needs and high standards.
After a few meetings with the SellersFi team, it was clear that the two businesses were aligned. “SellersFi looked like one of the most flexible options on the market for us during our research and we got on really, really well,” said Reed.
“The SellersFi team was really helpful by offering four months interest-free on our agreement, which helped us kick off the loan and apply that capital where required without immediately paying it back.” As part of the agreement, Diamond Whites had access to:
SellersFi offered everything Reed and his team were looking for in a funding partner: accessibility, flexibility, low interest, and total transparency.
—Ben Reed, CEO and Cofounder of Diamond Whites Aligners
The impact was immediate and Reed realized he’d found his funding partner. With flexible Working Capital, Reed was able to expand his vision of accessible oral care by offering flexible customer payment options to Diamond Whites’ growing base across the UK.
Today, the team at Diamond Whites continues to take the whitening world by storm. And we can’t wait to see what the future holds.
At SellersFi, we’re committed to providing flexible funding solutions tailored to fit the unique needs of growing e-commerce brands. Speedy approvals, insights to grow on, and expert customer service are just a few of the values we live by.
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