Billy needed to protect and grow their investor funds without losing access to them
Melanie Arnold, VP of Finance at Billy, needed a solution to manage the company’s cash in a way that didn’t conflict with its goals. Startups of all sizes often face a similar dilemma: Melanie wanted to preserve investors’ capital infusions and combat inflationary pressures while efficiently managing Billy’s checking accounts.
At the time, Billy’s cash was deposited in a checking account that provided no interest. The earnings on its treasury account couldn’t keep up with inflation, and Melanie didn’t want the value of Billy’s hard-won capital raise to melt away. Another frustration? Accessing their funds in U.S. Treasury bills took four to five business days.
Melanie looked into other banking options but found that most could only achieve one of her objectives while neglecting the others:
- Locking up the cash in U.S. Treasury ladders would be safe, but Billy needed that cash to stay deployable to pay for business and growth initiatives
- Opening multiple high-interest checking accounts or money market accounts would require many logins, dashboards, and transfers, complicating the team’s daily work
- Keeping the cash in one bank account left it under-insured
You just don't have the time to actively manage cash. But in this interest rate environment, you're also missing out and doing a disservice to your investors if you’re not earning money on it.