Pipcorn started with a creative idea to reinvent a classic...pop!
The Company's tiny kernels produce mini popcorn that aren't just cute but also satisfy your snack cravings using quality ingredients that are gluten free and non-GMO.
Jen, Jeff and Teresa launched the Pipcorn brand by selling at outdoor markets and the word spread like wildfire when Oprah took notice and they struck a deal on Shark Tank. Pipcorn quickly grew its online and grocery business and the Pipsnacks team took on a commercial kitchen in NYC to scale their production. Today Pipcorn is sold nationwide and the company continues to innovate in their products - We love their new Pipcorn Kids Line!
The wrinkle is that scaling in the natural and conventional grocery chains is not always easy. Pipsnacks, like most companies, often has expenses like slotting fees or other distributor discounts (aka MCBs) which eat into their cash flow. While selling through distributors is the lifeblood of most natural food manufacturers, it can leave brands short on cash.
Pipsnacks realized early on that equity was not the right option to fund working capital gaps like inventory purchases or accounts receivable.
With Dwight they were able to address their timing issues directly by financing their Accounts Receivables. Dwight structured a revolving line of credit, designed to be flexible, allowing Pipsnacks to draw down as needed and payback the line once they receive payments from customers.
With working capital taken care of, the Pipsnacks team can focus on building a winning brand and continuing to innovate - like the time they drove through Death Valley to create a solar popped batch of Pipcorn!