Discover 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.
Memo Bank stands out for its ability to quickly find effective solutions to our needs. »
Philippe Cantet
Cofounder and CEO
Company
SPRiNG is an e-commerce platform specializing in eco-designed laundry and cleaning products.
2020
20 employees
Paris
Philippe Cantet
Cofounder and CEO
SPRiNG’s challenges
Memo Bank’s solution
SPRING, launched in 2020, is an e-commerce platform dedicated to eco-designed laundry and cleaning products..
Son ambition est d’apporter un drive positive change in the industry with products that are better for health, the planet, and are modern by design.
Although primarily operating on a subscription model, SPRING’s products are also sold in major retail chains like Monoprix and Carrefour. With over 100,000 customers and generating millions in revenue, SPRING primarily operates in France and handles significant sales volumes: by the end of 2023, it had reached the milestone of 50 million washes (laundry capsules, dishwasher tablets, fabric softener doses, etc.).
Cash Flow Tension:
Limited Human Resources:
Philippe Cantet, co-founder of SPRiNG, oversees operations, finance, and investor relations. With his time being valuable, he sought a bank that could enhance his cash management and handle his financial flows efficiently.
With minimal effort, we easily optimise our cash.
Philippe Cantet
Cofounder and CEO
SPRING now recovers cash flow more readily with easy access to Memo Bank’s deferred debit cards These cards offer a 30-day cash advance and have higher limits than those of traditional banks to cover all expenses.
From theuser experience perspective, , Philippe Cantet finds it ” extremely simple, thanks to a comprehensive and easy-to-use platform that allows us to issue cards to our employees with various permissions and monitor our flows in real time. »
SPRiNG has chosen to place its cash surplusesin term accounts and then in the Booster accountfor their ease of useand theinterest they generate. « Memo Bank offered the smoothest experience for preserving and growing our treasury, including deferred debit and term accounts. We gain in both cash and interest, all with a clearly integrated offering. ” Philippe Cantet notes, before adding: ” “Just the cash not placed in our current account earns more interest than the banking fees. Adding to that the month of cash flow recovered from payment cards… makes Memo Bank a very appealing banking partner. ”
The quality of support is a key factor for Philippe Cantet, from the pre-sales phase through to account opening and beyond. Thecontinuous innovation dynamic,customer listening, and product developmentalso stand out, according to Philippe Cantet.Finally, he values collaborating with a bank that is actively committed to environmental causes through tangible actions.
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Banking as it should be
Memo Bank is a Société Anonyme with an Executive Board and a Supervisory Board with a capital of €13 081 499.46 € and accredited as a credit institution by the European Central Bank and regulated by the French Prudential Supervision and Resolution Authority (4 place de Budapest, 75009 Paris).
Use cases
Do you need to release orders quickly with your suppliers? Fulfill your commitments without tapping into your liquidity too early? At Memo Bank, everything is designed to accelerate your execution speed
Use cases
Do you need to release orders quickly with your suppliers? Fulfill your commitments without tapping into your liquidity too early? At Memo Bank, everything is designed to accelerate your execution speed
