NEW YORK, N.Y.– Waterloo, an Austin-based sparkling water brand committed to challenging the status quo by delivering bold flavor in each thirst quenching can, recently closed on a $5mm revolving line of credit with Dwight Funding. The line will be used for working capital and growth initiatives as the company continues to expand its wholesale presence nationally.
Waterloo is a flavorful take on the growing sparkling water category, delivering innovative interpretations of traditional flavor profiles and a much richer experience. The Austin-based brand projects to close the year 200% over last year and has challenged industry titans with their commitment to flavor innovation.
“Dwight Funding has provided the flexible capital solution that our brand needs to continue executing on product and distribution expansion, both at the individual retailer level and across retailer geographies,” stated Max Tenney, vice president of finance at Waterloo. “The partnership and funding are critical to our ability to continue saying ‘yes’ to rapidly increasing order volumes.”
Dwight Funding offers debt solutions uniquely tailored to the needs of growing consumer brands. With a nationwide presence, the group has deep ties to the CPG community and provides its portfolio companies with strategic advice and solutions throughout the brand lifecycle.
“Waterloo is making waves in a crowded category, which speaks to its product quality and flavor profile,” said Jessica Bates, funding director at Dwight Funding. “The team is excited to be part of the growth story as Waterloo continues to prove itself as a leader within the industry.”
To learn more, please visit dwightfunding.com or drinkwaterloo.com.
About Waterloo Sparkling Water
In 2017, after recognizing that consumers were seeking, but not finding, healthy, authentic, transparent and better-for-them beverage choices, that tasted great, the team dared to challenge expectation and launched Waterloo Sparkling. A rebel at heart, Waterloo has been breaking the mold since day one and is driven by its cofounder’s firsthand knowledge of the importance of food and beverage choices. The Austin-based brand is a BOLD take on sparkling water, making its mark by focusing on fruit-inspired flavor & aroma and delivering a much richer, more authentic taste.
Waterloo is made with Non-GMO Project verified and Whole 30 Approved flavors, free of calories, sodium, sugar, & artificial sweeteners. For the benefit of their fans and the environment, Waterloo has only ever been produced in aluminum cans, made with BPA-free liners.
About Dwight Funding
Dwight Funding is a leader in providing working capital solutions and lines of credit to early and growth stage businesses. Dwight partners with entrepreneurs to provide funding solutions designed specifically for the unique needs of growing consumer brands. The products are structured to work alongside seed or private equity funding by covering all working capital needs of E-commerce, Food and Beverage, and general CPG companies.