“It’s a fantastic product to use, our team and our customers love working with the guys at Hydr. It has become an extremely valuable partnership for us.”
– Steve Robinson, Chairman, Channel Mum
– Steve Robinson, Chairman, Channel Mum
We have been working with Channel Mum since launching our platform in June 2021. Founded in 2014, Channel Mum is the UK’s top talent and influencer marketing agency for all things family. Their expert team has over 250 years of combined experience in marketing to mums and women.
In the UK, Channel Mum is No. 1 for Family Influencer Talent, Insight and Impact.
Channel Mum works with some of the world’s most iconic brands such as Amazon, Unilever, Mattel, Tesco, Disney, Lego and Heinz. The company also partners with some of the largest advertising agencies in the UK.
Here’s how invoice finance with Hydr is helping Channel Mum thrive and plan its future with confidence;
Channel Mum’s business model means that they often have to pay their influencer talent prior to waiting for the payment terms of the invoice to run their course. The finance team have to manage this constant cashflow challenge. The gap between the two events can be weeks or even months, putting a significant strain on working capital.
Channel Mum had a facility with an established funding provider, but, as explained by Steve Robinson, Channel Mum’s chairman, ‘it was frankly a nightmare. It took a lot of effort to apply for the facility and once we had it up and running, there was a great deal of work required each month to reconcile it, submitting what we felt was an unnecessary amount of paperwork. We realised we needed something to support our cashflow needs, but this wasn’t it. We were actively looking for a product that was easier to manage, but all we could find were companies that had a similar offering.’
He continues, ‘We were introduced to Hydr last year before it had even launched and I was immediately impressed with the founders’ vision for something that is simple to understand, transparent in pricing and really easy to use. The offer was transformative and as soon as the platform launched, we signed up and transferred our business to Hydr.’
‘To date, over 200 invoices have been funded through the Hydr platform. That means on 200 occasions we have simply raised our invoice within our cloud accounting software, and the next day we have received the full amount of that invoice minus Hydr’s transparent fee. The fact that Hydr also works with our clients to manage payment has saved us a great deal of time, with no change in our relationship with them. In fact, they really like the Hydr team and some are even paying a little sooner!’
‘Now that we are plugged in to Hydr, while we could switch it off at any time, I just don’t see us ever doing so. It’s a fantastic product to use, and our team and our customers love working with the guys at Hydr. It has become an extremely valuable partnership for us.’