The Hedaya Capital Group provided a $2.5 million facility to a fast-growing company that develops plant and mineral-based personal care products. Founded in 2020, their flagship product is an all-body deodorant featuring a groundbreaking new microbiome-approved formula that eliminates odor everywhere. Based on the U.S. West Coast, the company began as a direct-to-consumer enterprise, selling online and through social media. As word quickly spread about their brand and customer loyalty deepened, retailers began to inquire about carrying their products in-store.
The Company broke into a few retail markets to an enthusiastic consumer response, but quickly realized they had reached an inflection point with changing capital needs and had outgrown their current lender. The company experienced the growing pains and challenges which come with breakout success, including a continued need for investment in product development, inventory and advertising. They needed additional capital to scale up as well as a financing partner with deep experience working with high growth companies in the consumer products industry.
One of their venture capital providers connected them to retail guru Irwin Dayan at Hedaya Capital. Right away, both parties felt the synergy of a potential relationship and they began discussions. Hedaya Capital’s funding and expertise in the retail and consumer products industry segments gave the Company additional confidence as they prepared to launch a pipeline of new products coming out in a year.
Hedaya Capital’s financing gave them the runway to build, scale, hit revenue goals, and ideally continue to develop an innovative pipeline of products.
“Having transitioned from a different financial partner, we were impressed with the ease of developing a relationship built on mutual trust. I worked with Alfred Hedaya, Irwin Dayan and David Huber on this transaction, all of whom were honest and straightforward, which made me feel very comfortable with Hedaya. I am looking forward to seeing how this mutually beneficial relationship continues to grow.” - Company CEO