Horizon Technology Finance Runs $ 30 Million Corporate Loan Facility for Leader D2C Custom Furniture Interior Define
FARMINGTON, Connecticut., January 11, 2022 / PRNewswire / – Horizon Technology Finance Corporation (NASDAQ: HRZN) (“Horizon”), a leading specialty finance company that provides capital in the form of secured loans to venture-backed companies in the fields of technology, life sciences, information and health services, and sustainable development industries, today announced the closing of a $ 30 million subprime loan facility to Interior Define, Inc. (“Interior Define”), of which Horizon funded $ 12.5 million from the initial $ 20 million drawdown, and a private investment vehicle managed by Horizon Technology Finance Management LLC, an advisor to Horizon, funded $ 7.5 million.
Interior Define is a leading brand of customizable D2C furniture offering thousands of upholstery as well as dining, lighting and decorating items, both through e-commerce and physical presence. rapidly expanding. Its production-to-order approach offers more than 150,000 specific furniture variations, allowing customers to design, customize and purchase furniture at an affordable price, enabling the company to design new products faster and more economically. than its competitors. The company is backed by a syndicate of leading investors, comprising Pritzker Group Venture Capital and Chicago Ventures, and will use the loan proceeds for general growth and working capital purposes.
“Interior Define is redefining online furniture shopping,” said Gerald A. Michaud, President of Horizon. “By providing an immersive, omnichannel shopping environment, including the ability to consult one-on-one with a design specialist, Interior Define has found a great place to create quality products with a simple and supportive customer experience. We are delighted to support Interior Define’s continued growth and development. “
“We appreciate Horizon’s support as we continue to scale the business, disrupt the D2C experience for customers, and open 30 new Define Studio retail stores through 2022,” said Antonio Nieves, Managing Director of Interior Define. “Our highly customizable products and iterative process provide consumers and the professional design community with incredible choice and a pleasant shopping experience both in person and online. Through Horizon’s investment in the business, we are able to pivot our offerings to suit our customer needs, expanding our product portfolio, positioning ourselves to further expand our market share in coming years.”
About Horizon Technology Finance
Horizon Technology Finance Corporation (NASDAQ: HRZN) is a leading specialty finance company providing capital in the form of secured loans to venture-backed companies in the technology, life sciences, health information and services and sustainable development. HRZN’s investment objective is to maximize the return on its investment portfolio by generating current income from the debt investments it makes and capital appreciation from the warrants it receives upon of these debt investments. Horizon Technology Finance Management LLC is headquartered in Farmington, Connecticut, with a regional office in Pleasanton, California, and investment professionals located in Portland, Maine, Austin, Texas, and Reston, Virginia. For more information, please visit www.horizontechfinance.com.
About the definition of the interior
The natively digital and vertically integrated brand, Interior Define, delivers the most compelling and in-depth custom furniture experience in the industry. Interior Define’s unique and bespoke production approach allows for customization of configuration, size, cushion padding, foot style, and fabric and leather coverings, including Oeko-Tex © certification. Standard, performance and options suitable for children and animals. Interior Define’s omnichannel approach allows clients to benefit from personalized support from design experts every step of the way, from designing moodboards to providing expert advice on fabrics and floor plans. upstairs, to help bring a design project to life. The democratization of personalization is fueling the Interior Define vision of delivering a unique experience to every unique living space. Visit Interior Define in Austin, Texas, Atlanta, Georgia, Boston, Massachusetts, Charlotte, North Carolina, Chicago, Illinois, Dallas, Texas, Los Angeles, CA, New York, New York State, Philadelphia, Pennsylvania, San Francisco, California, Seattle, WA, and Washington DC. For more information on Interior Define, please visit www.interiordefine.com and follow Interior Define on Instagram @interiordefine.
Statements included in this document may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical fact included in this press release may constitute forward-looking statements and are not statements. guarantees future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from forward-looking statements due to a number of factors, including those described from time to time in documents filed by the Company with the Securities and Exchange Commission. Horizon assumes no obligation to update any forward-looking statements contained in this document. All forward-looking statements speak only as of the date of this press release.
SOURCE Horizon Technology Finance Corporation