INDUSTRY
Consumer Packaged Goods (CPGs)
CHALLENGE
Secure funding to maintain production while launching the first CarbonNeutral bottled water.
RESULTS
A groundbreaking product launch , no interruption in current operations, and $21.6M in estimated annual revenue.
SOLUTION
—Raymond Thu, CFO of Icelandic Glacial Water
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.
Icelandic Glacial Water sources sustainably from the spring. The company makes its premium water available around the globe. Today, you can find Icelandic Glacial water in the US, the UK, the UAE, Canada, Australia, France, Brazil — and of course Iceland, among other countries.
The 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.
With sustainability in its DNA, Icelandic Glacial has worked with The CarbonNeutral Company since 2007 and it is officially the first bottled water company to become CarbonNeutral® certified for product and operation.
In February 2022 , 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.
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, CFO.
“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,” explained Thu.
While the fundraising process was underway, Thu 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 for when funding would come through, Thu knew Icelandic Glacial needed to secure additional support to keep the business running smoothly while raising the capital for growth.
“I first heard of SellersFi as soon as I joined Icelandic Glacial Water. We had a mutual colleague that knew both our founder and the head of business development at SellersFi,” said Thu.
But what truly made SellersFi special was the unique benefits that came from the partnership.
Thu knew SellersFi was the best solution due to its:
Thu described the experience this way: “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, SellersFi was there to provide the short-term financing bridge we needed to buy time to cover all the bases.”
With SellersFi’s flexible bridge financing to handle short-term and long-term capital and cash flow, Icelandic Glacial had a reliable e-commerce funding partner they could trust to help them manage present financial needs and future plans.
—Raymond Thu, CFO of Icelandic Glacial Water
Bridge financing from SellersFi covered everything as Icelandic Glacial Water waited for its capital raise funding to come through. Not only was the solution a perfect fit, but SellersFi moved swiftly so Thus and the team never had to pause their progress.
—Raymond Thu, CFO of Icelandic Glacial Water
With the right strategy and the right funding partner, Icelandic Glacial was able to stay firmly on track with current operations and future steps.
As far as continuing to partner with SellersFi, Thu said the future is looking brighter than ever. “I would definitely recommend the entire SellersFi team to anyone looking for bridge financing. We definitely want to keep the relationship going and continue growing together.”
At SellersFi, we share in our customers’ visions for a better world. With our flexible funding solutions, we support brands around the globe as they innovate to scale sustainably and at speed.
Ready to scale your brand?
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