How Grass & Co. doubled their business with flexible invoice financing
Grass & Co., founded in 2019 by brothers Ben and Tom Grass, aimed high from the beginning. The company set out to develop high-quality, botanical, and vitamin-enriched products, soon building an award-winning wellness brand. Initially a direct-to-consumer (D2C) model, Grass & Co. pivoted to retail, gaining listings among household name food specialists and grocery stores, including Holland & Barrett, Ocado, Whole Foods Market, Sainsbury’s and Amazon.
With scale came new challenges, however. Discover how easy access to finance with Kriya helped them not only overcome these, but double their turnover.
The Opportunity and the Challenge
The launch of the Mushrooms range marked a significant milestone for Grass & Co. It wasn't just a product introduction; it was the creation of an entirely new category for the business. This is a fast growing market globally and one that Grass & Co. had an opportunity to capitalise on in the UK.
- Securing an exclusive launch with Holland & Barrett was a huge opening for growth, with the new product creating interest from other partners.
- It quickly became evident that orders were going to exceed forecasts.
- This additional demand put pressure on the business’s available cash reserves, with the need to finance additional stock and maintain availability for their commercial partners.
To scale in line with the market available, Grass & Co. needed a fast, flexible financing solution to manage this growth phase without depleting their operational funds.
“If we hadn’t been able to meet the exceptional demand for our new Mushrooms range, it would have significantly limited the impact of the launch and slowed our growth this year. “ - Ben Grass, Co-Founder, Grass & Co.
Securing supply pipeline with flexible finance
In searching for a solution, Grass & Co. connected with Kriya, having worked with the business previously.
Kriya’s invoice financing service offered clarity and simplicity in its fee structure, essential for a fast-scaling business like Grass & Co. This partnership provided the necessary working capital to finance their mushroom range, ensuring a continuous supply of products for their expanding market in the UK and beyond.
“Partnering with Kriya to support this launch has undoubtedly contributed to our operational efficiency. It has enabled us to focus on securing new revenue streams by securing key retail accounts and expanding into new international territories.” - Ben Grass, Co-Founder, Grass & Co.
Expanding the Grass & Co. footprint
Kriya’s approach to invoice financing offered Grass & Co. the agility to respond to escalating market demands rapidly. By financing their invoices through Kriya, they could unlock cash tied up in deliveries to make new orders for their partners. With the ability to access cash on demand, they were able to scale operations and expand their product range to meet retailer and consumer demand efficiently.
- Rapid growth: With Kriya's financial support, Grass & Co. is on track to double its turnover in the 2023/2024 period.
- Scaling partnerships: The successful launch of the Mushrooms range has not only solidified existing retail partnerships but also opened new ones.
- Operational efficiency: The ability to swiftly grow order volumes, has enabled them to deliver consistent service and availability to their key partners.
With Kriya, Grass & Co. has been able to fulfil demand for new product lines, providing us with a springboard for future growth. We continue to value their services as we rapidly scale our brand. - Ben Grass, Co-Founder, Grass & Co.
Building a partnership for growth
The strategic partnership between Grass & Co. and Kriya is built on trust and support, with Kriya’s account managers serving as an extension of their own team. Kriya’s ability to adapt in response to Grass & Co. evolving needs has enabled Grass & Co. to focus on what they do best – developing and marketing top-tier wellness products for their growing audience.
In 2023, they have achieved:
- The introduction of 14 new products across various ranges, including the groundbreaking Mushrooms line, which is now the top brand of its kind in the UK.
- Recognition from industry leaders, including Best Supplier and Community Engagement Awards from Holland & Barrett.
- Grass & Co.'s products are now available in over 1500 stores across the UK.
In the fast-moving wellness market, Grass & Co. have proven their ability to spot new opportunities and create products that meet and surpass the demands of consumers. With the ability to access flexible finance based on their performance, the team are ideally placed to expand and build stronger relationships with partners and consumers, for the wellness of all.