Through PO Factoring, ConsolFreight was successful in providing financing to the emerging start-up Detox Babe in an operation that allowed them to start an important project with a large retailer.
Detox Babe is a fast-growing start-up that provides symptom-targeting bath soaks with a health-conscious construction. Their products are produced with superfood components that are clean, powerful, and will assist our body detox while giving it the nutrition it requires.
They have been highlighted in publications like Vanity Fair, OWN, E! and most recently Glamour's “Top Wellness Products of 2022”. In the fall of 2022, they will also be debuting in Bed Bath and Beyond and World Market, two prestigious retailers.
As a result of this background, they were approached by a major retail store in order to start a project together. However, being a young enterprise with limited resources, they were unable to raise the necessary funds to acquire the expensive materials needed for such an operation.
Fortunately, ConsolFreight offered them alternative financing through the process of Purchase Order Factoring using stablecoin DeFi. This has allowed them to undertake this crucial project, which could result in a considerable expansion of the SME.
The Detox Babe management team expressed their delight at the collaboration with ConsolFreight and the support given through this process by ConsolFreight’s CEO Ernesto Vila as follows:
“Ernesto was a pleasure to work with. This was our first time going through this process and he was available for support during every step. He explained the process thoroughly and even met with our partners to explain it to them as well. He made the process easy, simple, and efficient!”
ConsolFreight's methodology keeps demonstrating its efficacy as a substitute for conventional financing due to the quick access to capital given to their partners by diverse means available.