Case Study: Klox reduces cash flow delays with Memo Bank

How he reduced Klox’s working capital requirement (WCR) using Memo Bank’s deferred debit cards

Klox, an online marketing agency, faced a significant challenge with its working capital requirement due to the industry practice of advancing payments for ad space purchases and waiting 30-60 days to be reimbursed by clients. Their existing strategies were insufficient for financing their rapid growth. Klox needed a solution that offered deferred debit cards with modern, flexible management, which they found with Memo Bank.

Memo Bank provided Klox with Visa Corporate deferred debit cards, which delay payments for ad spend by up to 30 days. This dramatically reduced the agency's working capital requirement. The integrated expense platform also gave traders autonomy with virtual cards while providing the CFO with real-time oversight. As a result, Memo Bank simplified all card-related processes and became Klox's sole provider for online advertising purchases.

Klox

Xavier du Parc

Head of Finance