Case Study: The Plug Drink achieves profitability and 500%+ growth with Onramp Funds

The Plug Drink secures $1.3M in 6 months with Onramp Funds

The Plug Drink, an all-natural recovery brand founded by brothers Ray and Justin Kim, faced the challenge of achieving profitability and self-sufficiency following the 2023 Silicon Valley Bank collapse. In a cautious fundraising environment, they needed a flexible source of working capital to lower expenses and improve their KPIs without sacrificing growth, leading them to partner with Onramp Funds.

Onramp Funds provided over $1.3 million in flexible working capital advances over a six-month period. This solution allowed The Plug to allocate funds as needed, typically using 75% for inventory and 25% for marketing. As a result, the company achieved profitability in just six months, increased its customer repurchase rate by 300% year-over-year, and maintained its remarkable 500% year-over-year sales growth for two consecutive years.

The Plug Drink