Truvani

How Settle fueled Truvani’s retail expansion to 4,000+ stores in 1 year

FOOD

Truvani co-founders Derek Halpern, Devin Duncan, and Vani Hari are creating health & food products with better ingredients and without the added chemicals and toxins typically found in the food industry. After seeing their pre-sales take off, the Truvani team realized they needed capital for inventory to support exploding demand: “Settle enabled us to scale the company without raising outside capital.”

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4,000
1-year store expansion
8
new SKUs added
3
years as a Settle customer
The challenge

Faced with expanding into retail, Truvani discovered there was a working capital gap that spanned 9 months from production to product sale. “We needed to get into more doors fast and we wanted to go from two SKUs to more shelves” stated Derek Halpern. The team had opportunities to raise equity, but they wanted to maintain control over their vision.

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The solution

Truvani has used Settle Working Capital and maintained their relationship with Settle since 2021, even after being approached by different financing competitors. Settle has consistently provided competitive terms that aligned with their growth plans, “Settle is the easiest to work with and the software is great.”

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The outcome

With Settle’s financing, Truvani was able to expand their retail footprint from a few hundred stores to 4,000 stores across Whole Foods, Vitamin Shoppe, and more as well as expand its SKUs two to ten. When you want to grow your business at a certain speed, you need capital to buy the inventory you need for the growth you want to achieve,” commented Derek. This year, the Truvani team is focusing on continuing to expand their product lines.

“We needed to get into more doors fast and Settle made that possible. And then we wanted to go from more doors with two SKUs to more shelves, which Settle made possible.” - Derek Halpern (Co-Founder)

Advice to other founders

When it comes to raising capital, Derek highlights the benefits of using Settle’s financing over raising equity: “If you want to scale your consumer product business, you're going to need capital. The advantage of going with Settle is that you get to do it while maintaining control of your vision, your product quality, and everything you try to stand for without having outside money affect you - outside money comes with outside expectations and sometimes those outside expectations don't align with your vision for where you want your company to be.”

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