Case study / Ecommerce
Funding new product lines
The Brex Difference
Top Spend Categories
With interest and enthusiasm for ketogenic diets rising dramatically in the latter half of 2018, Perfect Keto’s sales and site visits were spiking. With customer surveys in hand, the team set to work developing four new product lines. But as launch approached, they felt the squeeze.
“Our Amex card limit was too low, and it didn’t allow us to properly invest in ad campaigns to support our product launches,” said Ryan Hanson, Perfect Keto’s CFO and COO. “We tried to get it raised but didn’t hear back from Amex for long stretches. Our customers were telling us what they wanted but we didn’t have the right financing to deliver.”
Ryan knew of other financing options like merchant cash advances and working capital loans, but was concerned about the high interest rates they carried. He sent a text to a few of his friends in finance at other online brands, and one recommended he check out Brex.
“After I submitted our application, I spoke to Matt on the Brex team about what we wanted to do and the limit we needed. Because Brex underwrites on our sales, and because our sales have been really strong, we got the limit we needed from day one.”
With two of the four launches completed, the Perfect Keto team is well on their way to hitting their revenue targets and continuing to invest in their growth.