Manufactured Raises $13 Million in Debt and Equity to Expand into Inventory Financing, Brings in New Head of Finance

CULVER CITY, Calif., Sept. 1, 2022 /PRNewswire/ -- Manufactured (MFD), an end-to-end manufacturing, finance and distribution company, raised $13 million from Tenacity Venture Capital and TriplePoint Capital, bringing its total raised capital to $16 million, to expand its inventory financing solution for consumer brands.

"Inventory is the most misunderstood financial asset in the world. It looks like an asset on a balance sheet but is priced like a liability," says Pranay Srinivasan, CEO and Founder of MFD. "The Manufactured platform eliminates inventory risk by manufacturing, financing, and distributing inventory predictably, efficiently, and affordably. These funds increase our ability to manage financial risk, mitigate uncertainty and boost revenue for our customers."

"Manufactured is at the forefront of the biggest evolution in manufacturing and inventory since perhaps the industrial revolution," adds Ben Narasin, Founder and General Partner at Tenacity Venture Capital. "I love bringing companies from the old era into the new internet revolution. As a fashion manufacturer in my prior life, Manufactured would have been a godsend to manage all the hard manufacturing and supply chain work. Now with Manufactured, brands can see an increase in profitability and operational efficiency."

In late 2021, MFD released their inventory financing solution to help companies improve inventory reliability. MFD leverages their vendor network of over 500 vendors across 20 industries in 25 countries to serve over $600 billion of additional demand in industry verticals like healthcare, food, and lifestyle products.

Zara Ivanova, newly hired Head of Finance at MFD, is spearheading this new initiative in addition to leading the finance department. She brings e-commerce business experience from Affirm, and 14+ years of operating experience in finance and capital markets. "Our investors understand our unique value proposition connecting manufacturing and inventory financing," adds Ivanova. "This additional funding will allow us to make inventory financing readily available to more companies and build automation around credit underwriting and servicing."

Founded in 2017, Manufactured helps companies source, finance and manage inventory across 20 industries and 25 countries. With over 45 years of experience, the company wants to simplify the inventory cycle for businesses of all sizes and industries. Companies can easily scale their manufacturing, lower unit costs, optimize supply chains and allocate capital efficiently. To learn more, visit www.manufactured.com.

Tenacity Venture Capital is a new fund that focuses on finding and backing the best formative, pre-seed and seed stage entrepreneurs and matching them with top investors for follow-on rounds as they scale their business.

TriplePoint Capital, is a Sand Hill Road-based global investment platform which provides customized debt financing, leasing, direct equity investments and other complementary solutions to venture capital-backed companies in technology and other high growth industries.

Contact info:
Manufactured
Email: [email protected]
Phone: +1 (855) 650-2040

SOURCE Manufactured

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