Swedish fashion brand NA-KD is one of Europe’s fastest-growing companies. Founded in 2015 they’ve seen global success, and are planning to expand into new markets, including the US. They’re also working on changing their pricing strategies to support this growth.
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Swedish fashion brand NA-KD is one of Europe’s fastest-growing companies. Founded in 2015 they’ve seen global success, and are planning to expand into new markets, including the US. They’re also working on changing their pricing strategies to support this growth.
Before using Juni, NA-KD were looking for a financial partner that would offer them extra capital to invest in their inventory and support their impressive growth.
When they found Juni, they realised they could streamline their card purchases and keep spending in one place. Their previous provider required a lot of financial admin which was draining their time, and NA-KD wanted a more efficient solution.
“The administration from our previous provider was a handful. We were looking for a financial partner that was more flexible and suitable for us,” says Kristian Holsten, Head of accounting and treasury at NA-KD. “We wanted to reduce our workload and consolidate our invoice management.”
With Juni, NA-KD has flexible financing for inventory to improve their cash flow. They also streamlined financial processes by managing their expenses in the same place as their invoice spend.
The team at NA-KD uses Juni cards for travel and subscription expenses. Using our virtual cards with Google Pay and Apple Pay has helped simplify their expense management and allow team members to pay while travelling for photo shoots, production trips and meeting stakeholders.
“It’s really smooth to pay with your phone, it’s helped our teams a lot,” says Kristian.
Centralising their expenses with Juni has enabled them to streamline their spend management. Juni Match has simplified handling transactions by automating receipt matching so they have the details they need for their accounting. By setting up the custom dimensions in Juni, they are able to automate the pre-accounting process, saving even more time.
NA-KD spends in multiple currencies including SEK, EUR, and USD. Juni's multi-currency accounts and low FX fees have helped reduce costs compared to traditional banks.
Invoice Credit provides NA-KD with financing solutions for purchasing inventory and goods. Not only does this help improve their cash flow but it also allows for better vendor payment terms. This is particularly beneficial in Asian markets where faster payments can lead to discounts and better margins.
“With more cash, we can pay vendors quicker and get more discounts. We’ve noticed the faster you pay, the better prices you get,” says Kristian.
Managing their spend with Juni is starting to pay off for the team at NA-KD. By centralising spend and simplifying their accounts payable they’re already saving valuable time on their month-end accounting.
“It takes about an hour to do the accounting for all our card transactions each month. Previously, it was about one working day.” says Kristian.
“As we continue to streamline our processes with Juni, we think we could save 25% of the time we’re spending on credit card admin.”
Juni has enabled inventory investment, improved margins and reduced costs for NA-KD. This ensures they have the capital they need to fuel growth, along with a flexible and adaptable financial partner.
“With Juni, it’s easy to adapt together when other providers have been very static,” says Kristian.
NA-KD is a Swedish fashion company that offers the latest fashion trends in clothing and accessories.
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