Soludos invents and manufactures thoughtfully crafted shoes and accessories that happily move their wearers through the world with style and ease.
After nearly 10 years producing and perfecting a brand of relaxation, adventure, and comfort, the Soludos team was still feeling the pressure. A steady stream of celebrity sightings had their shoes flying off the (digital) shelves, and summer was fast approaching.
“We are a seasonal business, and when we get into season, our spend scales really quickly,” said Brigid Foster, COO at Soludos. “We were constantly maxing out our corporate card and spent way too much time managing and paying it down so we didn’t miss opportunities to fund our digital ads and other marketing efforts.”
Foster searched online for tools to help manage seasonal cashflow, and found Brex. Her team saw the ability to put off payment for 60 days as the solution they’d been looking for. This flexibility lined up with their plans to increase spending on Instagram, a newer channel where they’d already seen early success.
“The cost of borrowing is clearly important, but so is the ability to fund opportunities that may not have been on your radar when budgets and cash projections were first done—now we can actually take advantage of these last-minute opportunities,” said Foster.
With a high limit based on revenue, 60 day float, and zero interest, Foster’s team can focus their time on discovering those valuable opportunities instead of dealing with their corporate card.
The Brex Mastercard® Corporate Credit Card is issued by Emigrant Bank, Member FDIC. Terms and conditions apply. See the Brex Platform Agreement for details.
Brex Inc. provides a corporate card. Brex Treasury LLC is an affiliated SEC-registered broker-dealer and member of FINRA and SIPC that provides Brex Cash, a program that allows customers to sweep uninvested cash balances into certain money market mutual funds. Investing in securities products involves risk, including possible loss of principal. Neither Brex Inc. nor any of its affiliates is a bank. Please see brex.com/cash for important legal disclosures.