John Brzezenski, Strategic Advisor, Juan Giraldo, CEO of Waku, and Steve Ladd, Experience Manager
Childhood friends, Juan Giraldo, Chief Executive Officer, and Nico Estrella, Chief Operating Officer, founded Waku in 2018, a prebiotic herbal tea company based on recipes from their home country Ecuador. Their inspiration to start their company was an opportunity to have a positive impact for their homeland and to unlock further demand for innovative products in the growing gut-health industry. According to Market.us, the global digestive health market is estimated at $104.4 billion by 2023. Therefore, Juan and Nico were ready for their next stage of growth when they enrolled in the Business Equity Initiative (BEI) program in 2022.
Challenges:
A couple of months after enrollment, a “perfect storm” of events occurred that required the BEI and Waku team to pivot from their original strategic goals and to focus on the following:
Unexpected withdrawal of investors
Delays with a major retail distributor
Supply chain issues with contract packer in Ecuador
Solutions:
The BEI team shifted their attention to helping Juan and Nico to use their limited resources to focus on actions to advance sales and go-to-market goals and to have enough funding to be able to continue to operate. The BEI team supported Waku with the following solutions:
Reworked cash flow model and financial projections.
Provided guidance on opportunities to recapitalize and conserve cash.
Managed communications with a lending partner, Business Equity Fund (BEF) at the Boston Foundation; and collaborated to secure short-term funding and a revised list of potential investors.
Helped develop key short-term metrics to advance toward growth goals.
Conducted interviews with peer companies that confirmed that the short-term hiring strategy and plans best fit Waku’s short-term growth goals.
Results and Impact:
Waku was able to successfully work through their challenges and meet the following accomplishments:
Retired over $200K debt and restructured $140K to lessen cash impact.
Obtained $400K of investments and loans including an $80,000 emergency loan through the Business Equity COVID-19 Emergency Fund at the Boston Foundation with more company-friendly terms to support short-term working capital requirements.
Secured Wholefoods distribution contract for 22 northeast stores, then expanded into the entire region (55 stores) with near-term visibility to expand to over 60 stores.
Increased revenues by 100% vs. the previous year.
“The Business Equity Initiative (BEI) made a world of a difference to my company because it was customized to support Waku’s needs. Prior, I had enrolled in other classroom-type programs, but nothing came close to the level of guidance that I received from my BEI strategist.”
We’re excited to grow our team and welcome a thoughtful, mission-driven leader into the role of Small Business Lending Director. This newly created position plays a key role in our next phase of growth, leading day-to-day lending operations, managing portfolio performance, and expanding access to capital for small businesses across Massachusetts and Rhode Island. If you’re passionate about supporting entrepreneurs, strengthening local economies, and advancing financial equity, we’d love to hear from you.
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The Nectar Community Investments residential team recently attended the 2025 MassEnergize Conference, which proved to be a thoughtful and impactful event full of advocacy, connection, and shared commitment to climate action at the community level. Residential Services Director Lissette Paukert spoke on a panel about funding residential decarbonization, joining representatives from Mass Save, the Community Climate Bank and Abode to talk about ways we can make energy efficiency upgrades more accessible and affordable for Massachusetts residents. Here are a few of her insights from the conversation.
What are the biggest challenges Nectar clients face in pursuing decarbonization projects?
These days, we see some fear of financial uncertainty and a lack of trust in the energy industry due to aggressive, predatory-like marketing behaviors. That’s also due to divisiveness and misinformation in our current environment, including whether climate change is real and if decarbonization efforts even matter. When you have limited cash flow, you invest carefully in products that are going to last and not cause issues. There needs to be clear and truthful messaging around the impact of decarbonization, from both an economic and environmental perspective. Not only do homeowners need education, but it’s just as important that the contractors and all professionals …
A big thank you to everyone who joined us for Nectar’s official launch in Rhode Island. We’re thrilled to be working in the Ocean State, and engaging with the entrepreneurs, ecosystem partners and other attendees at the event boosted our sense of excitement and community.
Since our founding in Massachusetts in 2008, we’ve made it our mission to invest in community and build generational wealth. We’re continuing that commitment in Rhode Island — today, tomorrow and well into the future. This launch event was only the beginning! We’re looking forward to working together, supporting dedicated small business owners, and collaborating with ecosystem partners to build on their successful efforts throughout the state.
