E-Commerce Success Stories » Icelandic Glacial Water

Play Video
Icelandic Glacial Water


Consumer Packaged Goods (CPGs)


Secure funding to maintain production while launching the first CarbonNeutral bottled bottled water.


A successful launch and $21.6M estimated annual revenue.


How Icelandic Glacial Water Got the Bridge Capital It Needed During a Major Funding Raise

“We were able to work well as a team. It was two separate companies but it never felt that way. It’s that kind of symbiotic collaboration that made it easy to work with.”

—Raymond Thu, Chief Financial Officer at Icelandic Glacial Water


Have you ever heard of a CarbonNeutral bottled water company?

Today, you have. Icelandic Glacial Water, a sustainably sourced water brand from Iceland, is officially the first bottled water company to become CarbonNeutral. But this brand’s growth journey isn’t just about its positive mission

Icelandic Glacial has made it its mission to make its premium water available around the globe. 


Today, you can find Icelandic Glacial water in the US, the UK, the United Arab Emirates, Canada, Australia, France, Brazil — and of course Iceland, among other countries.

In February, Icelandic Glacial announced the expansion of the brand in more than thirteen new accounts across the US — an addition that took Icelandic Glacial to over 43,000 doors nationwide.


But the road to global growth hasn’t always been easy.


During a major capital raise, the team at Icelandic Glacial found itself in need of a flexible funding solution to keep operations running smoothly. To learn more about how the brand kept things seamless during a pivotal (and lengthy) fundraising process, we sat down with Raymond Thu, its Chief Financial Officer.

About Icelandic Glacial Water

  • Consumer packaged goods (CPGs)
  • $75 million Total Funding
  • $21.6 Million Estimated Annual Revenue 

Derived from the land of fire and ice, Icelandic Glacial Water comes from the exceptionally pure Ölfus Spring. The spring was created after a massive volcanic eruption and continues to replenish via a gradual filtration of rainfall and snowmelt over untouched, uninhabited lava fields.

If it sounds idyllic, that’s because it is. With sustainability in its DNA, Icelandic Glacial has worked with The CarbonNeutral Company since 2007 and is certified CarbonNeutral for product and operation. A move unheard of in beverage history

The water brand has committed to expanding its global reach, while achieving a target of net-zero Greenhouse Gas emissions using a combination of environmental instruments, investments in renewable energy and reforestation projects around the world.

You could say, Raymond and his team have some pretty major goals.

“My role really is to drive shareholder value for the company and make sure we’re well funded to execute against our commercial plans. SellersFunding has been a big part of that,” explains Raymond.

The challenge: Maintaining growth during a significant capital raise

In 2022, Icelandic Glacial Water faced a pivotal moment in company history. 


“Our company was going through a major capital raise and as you know, that takes quite a long time. From securing a potential investor through due diligence, documentation, and finally, capital infusion. The process took several months,” explains Raymond.


While the fundraising process was underway, Raymond and the team at Icelandic Glacial still had all the usual operational challenges to keep up with.


“We had to balance our needs between those efforts versus driving the business.”


Without a clear timeline of when funding would come through, Raymond knew Icelandic Glacial needed to secure additional support to keep the business running smoothly while they secured the investments needed to continue fueling the brand’s global expansion.

The solution: Flexible bridge financing from SellersFunding

“I first heard of SellersFunding as soon as I joined Icelandic Glacial Water in December. We had a mutual colleague that knew both our founder and the head of business development at SellersFunding.” 


But what truly made SellersFunding special was the unique benefits that came from the partnership. 


Raymond knew SellersFunding was the best solution due to its:

  • Flexibility
  • The stellar customer service team
  • Quick response to short-term financing needs 
  • Competitive interest rates and payment schedules 


“After negotiating, we were able to find a solution that worked for both of us — from the competitive interest rates to the payment schedule to the exceptional customer service level. As we proceeded with our capital raise process, SellersFunding was there to provide the short-term financing bridge we needed to buy time.”


With SellersFunding, Raymond and the team now have a reliable ecommerce funding partner they can trust to get them through even the toughest financial hurdles.


“We were able to work well as a team. It was two separate companies but it never felt that way. It’s that kind of symbiotic collaboration that made it easy to work with.”

The Result: A smooth path toward global growth 🙌🏼

Obtaining bridge financing from SellersFunding saved the day as Icelandic Glacial Water waited for its capital raise funding to come through.


Not only was the solution a perfect fit, but SellersFunding moved swiftly so Raymond and the team could get the financing they needed.  


“In today’s world, everything is so transactional and what I love about the team at SellersFunding is the quick response,” says Raymond.


“I’m proud to say that I can call the VP of operations tomorrow and he’ll pick up my call right away. That’s the kind of relationship we have with SellersFunding.” 


With the right strategy and the right funding partner, Raymond and the team and Icelandic Glacial were able to stay firmly on track to achieving the brand’s core mission of sustainable global growth.


As far as continuing to partner with SellersFunding, Raymond said the future is looking brighter than ever. 


“I would definitely recommend the entire SellersFunding team to anyone that’s looking for bridge financing. We definitely want to keep the relationship going and continue growing together.”


At SellersFunding, our customers are the stars of the show. With our flexible funding solutions, we support brands around the globe to scale sustainably and at speed. Reach out to learn how we can help your business thrive, no matter what.

Ready to scale your brand?

Other stories

How CROSSNET secured a huge order worth millions with flexible e-commerce funding.

110% growth through customer payment options! How Diamond Whites delighted customers and grew its business.

How Hot Chocolate Design went from cash crunch to 65% sales growth by securing crucial inventory.