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Debt & Specialty Finance
dwightfunding.com

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Investments

3

Portfolio Exits

1

About Dwight Funding

Dwight Funding provides working capital solutions and lines of credit to early and growth stage businesses in food and beverage and e-commerce.

Dwight Funding Headquarter Location

787 Eleventh Ave 10th Floor

New York, New York, 10019,

United States

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Latest Dwight Funding News

Settle and Dwight Funding Announce Partnership for Hypergrowth Consumer Brands

Mar 4, 2022

The accounts payable startup and modern working capital partner will team up to fund brands from inventory build through sales NEW YORK–(BUSINESS WIRE)–Cashflow management startup Settle and modern working capital partner Dwight Funding launched a strategic partnership today to better serve the capital needs of growth-stage brands in the CPG industry. The two companies say the partnership is a natural fit due to their shared missions and complementary products. Both businesses are focused on disrupting traditionally slow-moving industries by bridging gaps in the cash conversion cycle using a founder-friendly, tech-enabled approach. Settle has simplified the bill pay workflow with its suite of tools, funding payables, and Dwight has modernized asset-based lending, funding receivables and inventory. Ben Brachot, Dwight’s Co-founder & Managing Director adds, “The Dwight-Settle partnership is an instance in which the whole is greater than the sum of its parts. Settle and Dwight are here to make sure founders have modern, simple access to capital. By combining forces, we can ensure clients are able to fund the entire product lifecycle from production to sales.” In practice, Settle and Dwight place great value on maintaining flexible and transparent terms, as opposed to the rigid, complicated structures of more traditional counterparts. The products were specifically designed for long-term growth, with no hidden fees and the potential to scale in parallel with the brand. What’s more, both offerings make working with them easy: Settle allows clients to defer vendor payments by 30-120 days, while Dwight offers revolving credit lines with hassle-free reporting and a partnership approach like that of an equity sponsor. Finally, the Dwight-Settle experience is as digitally native as the companies it serves, building on proprietary technology that minimizes friction. Through the partnership, the companies are also prioritizing the use of data to make smarter lending decisions that benefit borrowers. “Lending to businesses that not only care about growing quickly, but also responsibly, ensures that our interests are aligned; we’re forming long term relationships with our customers and intend to support them through their many stages of growth,” says Settle founder Alek Koenig. Many growth-stage CPG brands have already found value in using the two products side by side. Looking ahead, the teams say that they’re just scratching the surface of this long term partnership. “We’re excited to be working with a partner that really shares and understands our emphasis on building a positive customer experience,” shared Koenig. The companies are committed to continuing to improve the customer experience by exploring future-looking tools that leverage both parties’ strengths. About Dwight Funding Dwight Funding is a leading working capital partner built for early and growth stage businesses in eCommerce, Food & Beverage, General CPG, and SaaS. Partnering with Dwight means a quick turnaround, efficient decision making, and an expert take on the industry — this is attributed in part to sophisticated use of technology, and in part to industry specialization. Dwight’s lines of credit are structured for equity funded or bootstrapped businesses by covering all working capital needs to fuel growth. About Settle Settle is an all-in-one cashflow management solution tailored to the needs of growing CPG brands. By providing a suite of tools that allow for seamless bill pay and accounts payable management, Settle minimizes the burden of monitoring when and where company dollars are spent—freeing founders and small business owners to instead focus on their products and customers. Settle also provides flexible invoice-based financing options to help smooth the months-long gaps between vendor payments and product sales. Contacts

Dwight Funding Investments

3 Investments

Dwight Funding has made 3 investments. Their latest investment was in Rhythm Superfoods as part of their Debt on February 2, 2021.

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Dwight Funding Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

2/12/2021

Debt

Rhythm Superfoods

$1.8M

Yes

1

10/10/2019

Line of Credit

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$99M

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10

4/1/2019

Debt

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$99M

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10

Date

2/12/2021

10/10/2019

4/1/2019

Round

Debt

Line of Credit

Debt

Company

Rhythm Superfoods

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Amount

$1.8M

$99M

$99M

New?

Yes

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Co-Investors

Sources

1

10

10

Dwight Funding Portfolio Exits

1 Portfolio Exit

Dwight Funding has 1 portfolio exit. Their latest portfolio exit was Waterloo Sparkling Water Corp. on August 19, 2020.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

8/19/2020

Acq - Fin

7

Date

8/19/2020

Exit

Acq - Fin

Companies

Valuation

Acquirer

Sources

7

Dwight Funding Team

1 Team Member

Dwight Funding has 1 team member, including current Controller, Andrew Chaimowitz.

Name

Work History

Title

Status

Andrew Chaimowitz

Marks Paneth, Morgan Stanley, and Harvest Management

Controller

Current

Name

Andrew Chaimowitz

Work History

Marks Paneth, Morgan Stanley, and Harvest Management

Title

Controller

Status

Current

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