Manufactured, an end-to-end manufacturing, finance and distribution firm, raised $13 million from Tenacity Enterprise Capital and TriplePoint Capital, bringing its whole raised capital to $16 million, to increase its stock financing resolution for shopper manufacturers.
“Stock is essentially the most misunderstood monetary asset on the earth. It appears like an asset on a steadiness sheet however is priced like a legal responsibility,” Pranay Srinivasan, CEO and founding father of Manufactured, mentioned. “The Manufactured platform eliminates stock threat by manufacturing, financing and distributing stock predictably, effectively and affordably. These funds enhance our capacity to handle monetary threat, mitigate uncertainty and increase income for our clients.”
“Manufactured is on the forefront of the most important evolution in manufacturing and stock since maybe the commercial revolution,” Ben Narasin, founder and basic associate at Tenacity Enterprise Capital, mentioned. “I like bringing corporations from the outdated period into the brand new web revolution. As a style producer in my prior life, Manufactured would have been a godsend to handle all of the laborious manufacturing and provide chain work. Now with Manufactured, manufacturers can see a rise in profitability and operational effectivity.”
In late 2021, Manufactured launched its stock financing resolution to assist corporations enhance stock reliability. Manufactured leverages its vendor community of greater than 500 distributors throughout 20 industries in 25 nations to serve greater than $600 billion of further demand in trade verticals like healthcare, meals and way of life merchandise.
Zara Ivanova, newly employed head of finance at Manufactured, is spearheading this new initiative along with main the finance division. She brings e-commerce enterprise expertise from Affirm and greater than 14 years of working expertise in finance and capital markets.
“Our buyers perceive our distinctive worth proposition connecting manufacturing and stock financing,” Ivanova mentioned. “This extra funding will permit us to make stock financing available to extra corporations and construct automation round credit score underwriting and servicing.”