Case Study: Fleet optimizes working capital with Memo Bank

How their start-up maintains a negative Working Capital Requirement (WCR) thanks to its business model and Memo Bank’s deferred debit cards

Fleet, a company that leases computer equipment and office furniture to SMEs, faced a challenge with its traditional bank's archaic corporate cards. Low limits and a slow, manual process for increasing them delayed equipment purchases, hindering Fleet's core promise of rapid delivery to its clients. To maintain its responsiveness, Fleet needed a better banking solution, which they found with Memo Bank.

Memo Bank provided Fleet with corporate cards featuring deferred debit and no preset spending limit. This allowed Fleet to collect lease payments from its financing partners before the equipment purchase amounts were debited from its account, optimizing its working capital and generating cash surpluses. The solution eliminated purchasing delays, ensuring Fleet could always honor its delivery promises. As a result, Fleet was so satisfied that it made Memo Bank its main bank.

Fleet

Martin Leveau

Chief Financial Officer