Case Study: SPRiNG improves working capital and cash returns with Memo Bank

How SPRiNG, an e-commerce platform specializing in eco-designed laundry and cleaning products, stabilises its cash flow and simplifies financial management with Memo Bank

SPRiNG, an e-commerce platform specializing in eco-designed laundry and cleaning products, faced pressure on its working capital due to supplier payments being due upon delivery and the limitations of a small financial team. Seeking to enhance cash management, co-founder Philippe Cantet turned to Memo Bank for a solution.

Memo Bank addressed these challenges by providing deferred debit cards that offered a 30-day cash advance, improving SPRiNG's working capital requirements. The company also utilized Memo Bank's flexible term deposit accounts to enhance its cash reserves. This solution stabilized SPRiNG's cash flow, achieved a 30-day improvement in working capital, and generated interest on cash surpluses, all while streamlining financial management.

SPRiNG

Philippe Cantet

Cofounder