FARMINGTON, Connecticut — Horizon Technology Finance Corp., a specialty finance company that provides capital in the form of secured loans to venture-backed companies, has entered into a $30 million venture loan facility with Interior Define Inc., a furniture brand D2C.
Horizon funded $12.5 million of an initial drawdown of $20 million, and a private investment vehicle managed by Horizon Technology Finance Management LLC, Horizon’s advisor, funded $7.5 million.
Interior Define is a customizable D2C furniture brand offering thousands of upholstery items as well as dining, lighting and décor, via e-commerce and a growing physical presence. Its make-to-order approach offers more than 150,000 specific furniture variations, allowing customers to design, customize and purchase furniture at an affordable price, allowing the company to design new products faster and more economically than competitors. . The company is backed by a syndicate of investors, including 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 offering an immersive, omnichannel shopping environment, including the ability to consult one-on-one with a design specialist, Interior Define has found an ideal 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 stores through 2022,” said Antonio Nieves, CEO of Interior Define. “Our highly customizable products and our iterative process provide consumers and the professional design community with incredible choice and an enjoyable in-person and online shopping experience. With Horizon’s investment in the business, we can tailor our offerings to our customers. ‘, expanding our product portfolio, positioning us to further expand our market share in the years to come.”