A Series B direct-to-consumer subscription company needed to refinance existing venture debt while simultaneously raising equity and securing CapEx financing, all in a market where lenders were pulling back from consumer businesses amid tariff uncertainty. The interdependency between the debt and equity raises created an additional structural challenge from the outset.
Cafferty & Company designed a multi-lender strategy that emphasized the company’s repeatable cohort economics and subscription revenue predictability, unlocking lender appetite despite ongoing cash burn. The company ultimately closed financing from three lenders, delivering 5x the capital availability of the incumbent proposal, while reducing the equity raise to roughly 70% of its original planned size and extending cash runway approximately 36 months.
