Pod Foods Capital’s launch includes a line of credit and term loans, the press release said. Financing offers are personalized based on data from the Pod Foods platform and will provide clients with the cash flow they need for distribution and operations.
“As demand for emerging brands grow across national retail chains, supply chain issues along with a recession on the way pose a significant challenge to brands trying to keep up with the demand,” said Fiona Lee, co-founder and CPO of Pod Foods.
“Pod Foods Capital is a way for our brands to seize the opportunities that enable their growth,” she said. “The need for targeted financing solutions is going to be higher than ever, and we are looking forward to playing a major part in the success of the brands who partner with us.”
Pod Foods Capital users can view how much they are eligible for, as well as the terms of that financing on their dashboards. They can then accept the funds, which will be deposited in their bank account in days, with automatic repayment, the company press release said.
Related: Grocers Get Creative to Keep Shelves Stocked Amid Supply Shortages
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Last month, Pod Foods announced a collaboration with Arizona-based grocer Sprouts Farmers Market, which has about 380 stores across 23 states. CEO and Co-founder Larissa Russell said in an interview with PYMNTS that this partnership enables the grocer not only to keep their shelves full but also to follow industry-wide trends toward challenger brands.
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