NEwhere Premium Vapor Products, a marketer and distributor of e-cigarettes, e-hookahs, e-liquids and rechargeable vaporizer products has announced that it has finalized a financing agreement with Bibby Financial Services Inc. of up to $4.7 Million.
“The electronic vapor industry is a fast paced and ever-growing industry with hundreds, if not thousands of companies, all striving to be the best,” said Ali Esmaili, CEO of NEwhere. “This financing from Bibby Financial Services allows us to continue our mission to set ourselves apart from the competition and continue to offer exactly what our customers are looking for…a higher quality, better tasting and more attractive product.”
“Bibby Financial Services specializes in helping quickly-growing companies gain the access to cash flow they need to reach their goals,” noted Nick Hart, managing director, Bibby Financial Services, California. “Our financing model is based on receivables and other assets, so as demand for a product grows, so does the cash available.”
This announcement couldn’t come at a better time for NEwhere. In just the past 30 days, NEwhere has partnered with multiple leaders in various retail markets and grown from having a strong presence in just five states on the West Coast to being available in retail locations across every state in the continental U.S. as well as Hawaii. NEwhere is also now available in five providences across Canada. This financing will help to develop a larger presence in current regions, while quickly expanding into additional national and international regions. This financing also allows NEwhere to create and implement a comprehensive marketing and advertising plan to increase their brand recognition anywhere their products are available for sale.