The Beachbody Company, now known as BODi, announced it has received $35 million in financing from lending platform Tiger Finance, part of Tiger Capital Group. The funding package included an immediate $25 million term loan and a $10 million uncommitted accordion, which will allow the company to retire $17.3 million in outstanding debt while adding $5 million in capital to its balance sheet.
Tiger Finance stated that the partnership “should position Beachbody for greater profitability and long-term growth.”
“Tiger’s belief in our business plan and flexible approach to lending gave us the liquidity to execute on our efforts to open new and more profitable channels of distribution,” said Carl Daikeler, Beachbody Co-Founder and Chief Executive Officer. “We are thrilled to partner with them and SG Credit Partners on our turnaround strategy.”
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