$2.5 Million Line of Credit Brews Success
Client:
Kitu Life, Inc., also known as Super Coffee, was founded in 2016 by three brothers in their dorm room, inspired to create a healthy coffee drink with real ingredients and no sugar or artificial additives. Highly focused on growth from the beginning, accolades soon followed: a Shark Tank appearance in 2018; Forbes’ 30 under 30 list in 2019; Inc. Magazine’s Fastest Growing Food and Beverage Company in 2020; and BevNET Magazine’s Brand of the Year in 2021. Today, they are one of the largest ready-to-drink coffee companies in the country headquartered in Austin, Texas with a full line of enhanced coffee products sold in 50,000 retail stores nationwide.
Situation:
Raising capital post-COVID was difficult, which hampered the Company’s growth and limited the capital available to invest in brand development and marketing. The Company needed funding to support continued growth goals and investment, especially in best-in-class branded content to advertise new and improved products across the entire social media universe. They searched for a lender who understood the unique needs of entrepreneurs in the midst of rapid scale-up and turned to nFusion Capital.
Solution:
nFusion provided a $2.5 million ABL Facility.
“With NFusion, we found a partner who shares our vision and values for bringing great products to the market in the most efficient way possible, and one that has the ability to grow with us as we continue to scale our brand platform across the country. Jason and his team have been an absolute pleasure to work with and I look forward to a great long term relationship for years to come.” -Jordan DeCicco, CEO, Kitu Life, Inc.
Result:
The financing provided much-needed capital to invest in new product lines, increase marketing outreach, build out e-commerce capabilities, and target younger consumers.
“Entrepreneurs like the DeCicco brothers are the reason we started nFusion. We love their vision and energy; they have a great product and the drive it takes to succeed. They just needed a funding boost, and we are excited to be the partner that helps them get to the next level.” -Jason Lippman, CEO, nFusion Capital