Manufactured Raises $13M in Debt and Equity to Expand Inventory Finance, Hires New CFO

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CULVER CITY, Calif., September 1, 2022 /PRNewswire/ — Made (MFD), an end-to-end manufacturing, finance and distribution company, raised $13 million of Tenacity Venture Capital and TriplePoint Capitalbringing its total capital raised to $16 millionto extend its inventory financing solution to consumer brands.

“Inventory is the most misunderstood financial asset in the world. It looks like an asset on a balance sheet, but its price is like a liability,” says Pranay Srinivasan, CEO and Founder of MFD. “The Manufactured platform eliminates inventory risk by manufacturing, funding, and distributing inventory in a predictable, efficient, and affordable way. These funds increase our ability to manage financial risk, mitigate uncertainty, and increase revenue from our clients.”

“Manufacturing is at the forefront of the greatest evolution in manufacturing and inventory since perhaps the Industrial Revolution,” adds Ben Narasin, founder and general partner of Tenacity Venture Capital. “I love bringing old-era companies into the new internet revolution. As a fashion manufacturer in my previous life, Manufactured would have been a godsend for handling all the tough manufacturing and supply chain work. Now , with Manufactured, brands can see an increase in profitability and operational efficiency.”

At the end of 2021, MFD launched its inventory finance solution to help companies improve inventory reliability. MFD leverages its supplier network of over 500 suppliers in 20 industries in 25 countries to serve more than $600 billion additional demand in industry verticals such as 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 commercial experience in Affirm’s e-commerce and over 14 years of operational experience in finance and capital markets. “Our investors understand our unique value proposition linking manufacturing and inventory financing,” adds Ivanova. “This additional funding will allow us to make inventory financing easily accessible to more businesses and build automation around underwriting and credit servicing.”

About Manufacturing (MFD)

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

About
Tenacity Venture Capital

Tenacity Venture Capital is a new fund that focuses on finding and supporting the best entrepreneurs in the formation, pre-seed and seed stages and connecting them with the best investors for follow-on cycles as they grow their business.

About
Capital triple point

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

Contact information:
Made
E-mail: [email protected]
Telephone: +1 (855) 650-2040

SOURCE Manufactured

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