CHICAGO--(BUSINESS WIRE)--Victory Park Capital (“VPC”), a leading global alternative investment firm, today announced it has provided a $100 million credit facility to Juvo+, one of the top private label product developers in e-commerce. The funding will primarily be used to launch innovative new products and fund strategic expansion as Juvo+ continues to scale its footprint across multiple e-commerce channels.
Leveraging data and machine learning, Juvo+ identifies opportunities to develop and bring thousands of unique products to market each year. Since its founding in 2013, Juvo+ has become one of the ten largest third-party sellers on Amazon, Walmart and Target, offering a diverse set of products such as party supplies, home goods, and arts and crafts.
The founders of Juvo+ are serial entrepreneurs having started MeziMedia (acquired by ValueClick) and Kitchen United (backed by Google Ventures and Fidelity). Its senior management team has extensive e-commerce experience, having previously worked for platforms including 1-800-Flowers, Shopzilla and Yahoo!.
“VPC’s support will bring with it a new stage of growth for us,” said Juvo+ CEO Steve Neufer. “With this funding, we will be able to accelerate our highly efficient and technology-enabled product development efforts and our already meaningful channel diversification. We welcome this partnership with an established leader in e-commerce financing.”
“Juvo+ has proven its ability to effectively scale and succeed in the competitive e-commerce landscape,” said Tom Welch, Partner at Victory Park Capital. “We're excited to partner with Steve and his team as they continue to develop, launch and scale innovative consumer products.”
About Victory Park Capital
Victory Park Capital is a global alternative investment firm that provides capital to emerging and established businesses in the U.S. and abroad. The firm’s differentiated offerings leverage an extensive network of industry relationships, disciplined deal origination, creative financing capabilities, broad credit structuring and special situations expertise. The firm was founded in 2007 and is headquartered in Chicago with additional resources in New York, Los Angeles, Austin and Miami. VPC is privately held and a Registered Investment Advisor with the SEC. For more information, please visit www.victoryparkcapital.com.
About Juvo+
Juvo Plus is one of the largest organic third-party online marketplace sellers in the world. Juvo uses data and technology to identify opportunities in online marketplaces and develop thousands of unique products each year under its private label brands. Juvo has been able to deliver consistent, profitable, and capital efficient growth thanks to its global footprint and vertically integrated operations. Juvo was founded in 2013 by Search, Ad-Tech, eCommerce, and Technology veterans and is headquartered in Los Angeles with offices and logistics operations in Hong Kong, Guangzhou and Yiwu, China. For more information, please visit www.juvoplus.com.
