David Beckham-backed wellness brand IM8 has secured $1 billion from General Catalyst's Customer Value Fund, a financing model designed to support growth without taking equity in the company.
Unlike a traditional venture round, the CVF structure works more like a revenue-linked loan. IM8 will repay the capital through a capped share of income generated from the customers it acquires, while preserving its ownership structure.
IM8 was co-founded by CEO Danny Yeung under Prenetics and has built a subscription-based health drink line centered on longevity-focused ingredients such as açai extract and Coenzyme Q10. The new capital is intended to help scale customer acquisition, with funding covering a large portion of those costs.
This approach reflects a growing interest in flexible financing for companies with predictable revenue streams, especially in wellness and consumer health. As more brands explore non-dilutive capital, the model could reshape how ambitious startups expand while keeping control of their future.