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Case study / Ecommerce

Dr. Squatch is cleaning up, thanks to Brex

The Brex Difference

20 minutes

Application Time

Almost instant

Implementation Time

Inventory, purchase orders of suppliers & raw materials, ad spend and marketing, office equipment

Top Spend Categories

Company Info

Jack Haldrup

Founders

2013

Founded

Los Angeles, CA

Headquarters

11-50 (25)

Employee Count

$1.3M (Seed)

Funding

Company

The mission of Dr. Squatch Soap Company is both simple and refreshing. Driven by a passion for all-natural products, founder Jack Haldrup launched a line of great-smelling soaps for men made from pure ingredients. With scents ranging from Crisp IPA to Pine Tar, Dr. Squatch Soap Company has become one of the largest sellers of men’s soap online.

Challenge

In 2013, when Haldrup first launched Dr. Squatch out of his midwestern apartment, he was selling a few bars a week. Now he’s shipping up to 500,000 units per month. As his company grew, accessing credit was a challenge.

“Banks have their own outdated model in terms of evaluating companies—for ecommerce companies in particular it’s not a good fit.” 
— Jack Haldrup, Founder and CEO
Solution

Being approved for a Brex card in 20 minutes was a game-changer for Dr. Squatch Soap Company, giving them immediate access to a 60-day, interest-free float. “With a rolling 60 days of interest-free credit, Brex has helped us be super flexible with our manufacturers and marketing. Plus, the limit grows as we grow.”

Beyond just the 60-day float with zero interest, Haldrup also loves how easy Brex is to work with. The dashboard is intuitive to use, they can easily get new employees their own cards, and it’s simple to track spending and set limits. He says that traditional bank software doesn’t come close to being able to do any of that.

“We’re growing so quickly, we need access to capital quickly. Signing up with Brex saved us massive amounts of time and frustration.”
Impact

Banks don’t get ecommerce, but Brex does. We created a new type of underwriting process to assess each ecommerce company and offer the type of credit that allows founders to invest in and grow their business.

With employees using both physical and virtual Brex cards, they regularly purchase inventory, raw materials, marketing ads, equipment for new employees, and even snacks around the office. And that investment has paid off, with Dr. Squatch Soap Company now counting over 75,000 subscribers who are each getting regular deliveries of soap straight to their door.

“Brex is an amazing product, there’s never been anything like it. Before, banks would give us maybe $300K. With Brex we have $1.2M and it was super easy to get.”

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The Brex Mastercard® Corporate Credit Card is issued by Emigrant Bank, Member FDIC. Terms and conditions apply. See the Brex Platform Agreement for details.

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