Arrae, a wellness company co-founded by Nish Samantray and Siff Haider, recently launched their newest product, “Constipation”. Beyond developing the product and uniquely brilliant marketing, they recognized the critical importance of flexible inventory financing to propel speed to market and ensure a successful launch for their upcoming slate of products.
90days of cash flow forecasting
The Challenge
For Arrae, the challenge lay in supporting marketing efforts for the product launch while balancing inventory needs and flexibility to bring more wellness products to market at the pace they wanted to innovate. They needed upfront cash to manufacture their product. However, traditional funding partners with lengthy processes and restrictive covenants didn't align with their timeline, especially with the rapidly approaching Q4.
The Solution
Arrae found in Settle a partner that understood their need for speed and flexibility. With Settle Working Capital, Nish and Siff secured the necessary capital without diluting their equity or facing the hurdles of traditional funding avenues. Settle also enabled them to implement detailed forecasting capabilities - with Settle’s dashboard, they were able to conduct short-term (90-day) and long-term cash flow forecasts while having real-time visibility into their credit utilization. Additionally, having a “specific, unified place [in Settle] to pay all the vendors made that process really easy” says Nish.
We want a financing partner who can keep up with speed and efficiency. So that's why we're working with Settle
The Outcome
By leveraging Settle Working Capital and a relationship dedicated to understanding their business, Arrae was able to manage their cash flow efficiently and optimize their cash flow for initiatives beyond just inventory. Because they used Settle to fund the inventory for the product launch, Nish and Siff were able to free up capital to host a breakthrough launch event raising even more awareness for their products and hitting their revenue goals. Looking ahead, Arrae continues to focus on speed and efficiency when it comes to launching new products, supported by the flexibility of Settle Working Capital.
We were able to launch more products because we had access to this capital and we were actually able to do all of this without raising additional capital.
