Today in brief: New entrant in DTC dog food; Finix announce $30M in funding
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New entrant emerges in DTC dog food market
A new brand focused on "empowering dog parents to prepare home-cooked meals for their dogs" has launched online and is trying to upend a busy direct-to-consumer (DTC) pet-food vertical.
According to its website, Dog Child exists to "improve the quality of your dog’s life through easy home cooking and make it as special as it is to make homemade meals for your family.
"Through Dog Child, I’m proposing that dog parents take a step back to consider what they have been feeding their dogs," said the company's co-founder and CEO Nicole Marchand. "The future of dog nutrition is similar to the journey many humans have gone through reducing processed pre made foods and focusing more on simple yet high-quality fresh ingredients. Dog Child sees parents gaining full control of what they are feeding their dogs, the same way they would for themselves or the rest of their family."
But the DTC dog food market is a crowded one, with competition coming from Marley Bones, The Farmer's Dog and Nom Nom, among others.
"Our strategy is really founded in creating long-term value through community and content," said Marchand. "We’re introducing a new way to care for and bond with your dog through our product line, but also continuously sharing resources to make home-cooked meals easy and accessible across our digital channels and offline events."
Finix announce $30M in funding
Payments provider Finix today announced it has raised $30M in new capital, bringing its total funding to $133M.
"New and existing investors chose to back Finix thanks to the growth we’ve shown in the last six months, including Q2 2022 being our best quarter ever in terms of new deals closed," the fintech company said in a Wednesday blog post.
This latest funding round for Finix comes on the heels of a May announcement that the company, which previously was focussed on helping businesses become their own payment companies, had transitioned to becoming a PayFac (payment facilitator) itself.