Tiger Finance closed a $20 million credit facility for Pilot Wave E-Commerce, a consumer goods subsidiary of Pilot Wave Holdings, which acquires established businesses and implements proprietary analytics to ramp up their performance. The credit facility provides working capital to support Pilot Wave E-Commerce’s data-driven approach to acquiring, operating and scaling e-commerce businesses.
“SKU-level data analysis is at the core of all of Tiger’s business practices. From the outset, we have been impressed by Pilot Wave’s comprehensive analytical approach,” Andy Babcock, managing director of Tiger Finance, said. “Pilot Wave’s omnichannel sales strategy is also a natural fit for our lending platform. We are excited about the future of this partnership.”
The credit facility is comprised of a $10 million term loan with an accordion of up to $10 million.
“This is a flexible structure that will empower PWE’s continuing growth and evolution,” Babcock said. “It reflects our ability to step into any industry and provide creative solutions.”
Using data science to unlock customer and product insights, Pilot Wave E-Commerce activates a variety of on-platform levers to grow omnichannel brands. Pilot Wave E-Commerce is category-agnostic but targets brands that complement the existing basket-of-goods of its current portfolio-owned brand customers.
“We are thrilled to partner with Tiger Finance; this marks a huge milestone for the firm as we continue to execute on our growth objectives,” Afsheen Afshar, founder and managing partner of Pilot Wave, said. “Tiger is a first-class organization with a commercially oriented and data-focused mindset, which makes for an excellent match. We are excited for this new chapter and look forward to rapidly growing the business together.”
