California, September 1, 2022 — To grow its inventory financing solution for consumer brands, Manufactured (MFD), end-to-end manufacturing, finance, and distribution company, raised USD 13 million from Tenacity Venture Cash and TriplePoint Capital. This round brought its total capital raised to USD 16 million.
MFD’s CEO and founder, Pranay Srinivasan:
“One of the most misunderstood financial asset in the world is inventory. On a balance sheet, it appears to be an asset but is valued as a liability. The Manufactured platform reduces inventory risk by manufacturing, financing, and distributing inventory in a predictable, effective, and cost-effective manner. With the help of these funds, we will be better able to control financial risk, lessen the uncertainty, and improve client income.”
Ben Narasin, founder and general partner at Tenacity Venture Capital, adds, “Manufactured is at the vanguard of the biggest shift in manufacturing and inventories since the industrial revolution. “I like integrating established businesses into the brand-new internet revolution. Manufactured would have been a blessing to manage all the difficult production and supply chain tasks in my previous life as a clothes producer. Brands can now see improved operational effectiveness and profitability because of manufactured.”
To help businesses increase the dependability of their inventory, MFD announced its inventory financing option in late 2021. By utilizing its network of over 500 vendors in 20 industries and 25 countries, MFD can meet an additional USD 600 billion in demand in the healthcare, food, and lifestyle sectors.
In addition to overseeing the finance division, Zara Ivanova, the recently hired Head of Finance at MFD, coordinates this new project. She has 14+ years of operational experience in banking and capital markets and Affirm’s e-commerce business experience. Ivanova continues:
“Our investors recognize our distinctive value proposition linking production and inventory financing. With this new capital, we will be able to expand the number of businesses that can easily access inventory financing and automate credit underwriting and servicing.”
More about the company:
Manufactured was established in 2017 to assist businesses in 20 different industries and over 25 countries. The organization, which has more than 45 years of expertise, aims to simplify the inventory cycle for companies of all sizes and sectors. Businesses may expand their manufacturing, reduce unit costs, improve supply chains, and economically use capital.
A new fund called Tenacity Venture Capital seeks out. It supports the greatest formative, pre-seed, and seed stage business owners, pairing them with top investors for follow-on rounds as they grow their companies. They are one of the lead investors participating in this round.
We try our best to fact-check and bring the best, well-researched, and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by!
Next Article
, end-to-end manufacturing, finance, and distribution company, raised USD 13 million from Tenacity Venture Cash and TriplePoint Capital. This round brought its total capital raised to USD 16 million.){kind=link}