Our Investment In Powered By People: Enabling Sustainability and Small-Batch Production
Consumers are becoming more global citizens in every sense of the word. The last decade of social media adoption and tech advancements have invited consumers to join a global village. Our tastes and interests are not only influenced by our immediate surroundings but also by a collective culture within the digital networks we subscribe to. We’re also becoming increasingly conscious and aware of what we buy and where it comes from. We’re looking beyond the label and supporting brands that represent our values. Often, these are not mass-produced products; instead, small-batch goods are created locally and sold globally. As a result, retailers feel extraordinary pressure to diversify their product lines and source ethically and sustainably.
While consumer preferences are influenced digitally, the demand for this unique set of goods occurs in the physical realm and poses a challenge for retailers. The makers of these goods are often located overseas, speak different languages, and are not easily discoverable. Additionally, some of these makers lack the tools, technology and access to capital markets to deliver against the incoming demand.
Today, we’re excited to announce our investment in Powered By People: a curated wholesale marketplace focusing on small-batch, responsibly sourced goods. They provide the necessary infrastructure to help makers across 47 countries scale their operations and connect with retailers. We were excited to co-lead this $5M Seed round with our friends from Susa Ventures.
When we first met the team, we were blown away by their passion and connection to the problem. Ella (CEO), Hedvig (CCIO), and Alison (CDO) bring an unmatched depth of experience and connection to the space that makes it impossible to bet against them. Ella previously founded jewelry brand Soko which manufactured its products through makers in Nairobi. Hedvig is a former Danish Army Lieutenant who spent seven years working in Kabul running programs focused on empowering communities through craftwork. Alison was one of the founders of Caban, the Club Monaco lifestyle home brand. This team deeply understands the inner workings of overseas craftspeople and builders of independent brands. Powered by People is building a distributed team that works with makers to leverage their earned networks across the globe.
The team also has firsthand experience and knowledge of the impact that access to capital markets can have on these producers. To solve this, the company’s flagship product PBP FlexPay integrates with their PBP Produce, removing significant barriers for small-batch makers. Combining this with their two-sided workflow tools, Powered By People provides infrastructure for a $1T market. Since launching six months ago, the company has issued over $5.8M in PO financing. They work with over 200 brands and over 45,000 artisans from 47 countries who sell to retailers like West Elm and The Citizenry, across major markets, including North America and Asia.
We’re thrilled to partner with Ella, Hedvig, Alison, and the entire team on their journey. If you’re interested in joining the team, they’re hiring for many roles.
