Optimum Finance provides craft brewers Mondo with tailored cashflow solution
Bristol’s Optimum Finance has worked with Mondo Brewing Company to set up a tailored Invoice Finance system, enabling the business to expand with new craft beers, tap rooms, and partnerships.
The Battersea brewers rejected traditional lending and overdraft solutions in favour of Optimum’s cashflow funding tool, which uses receivables – or invoices – as the principal asset against which money can be raised.
Optimum pays Mondo an agreed percentage of the invoice value as soon as it is submitted, granting the company immediate access to liquidity at the point of invoice. The system does not interfere with Mondo’s management of its own sales ledger, allowing it to preserve existing customer relationships.
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Co-founder and Director Todd Matteson said: “Mondo is crucially centred around the customer experience and Optimum Finance gives us the freedom and control to chase late payments, rather than leaving it to somebody our customer doesn’t know.
“Optimum advances 85% of the invoice value, with access to up to £250,000 at any one time, and this is a tremendous benefit in paying our own suppliers and giving us greater flexibility in our purchasing decisions.”
Mondo buys hundreds of kilograms of hops and many tons of malt weekly, as well as chemicals necessary for brewing. From this it produces around 45,000 litres of craft beer every month for consumers across Europe, Australia, and America’s East Coast, with plenty of demand at home.
Todd continued: “We have plans to open a number of additional tap rooms around London, adding to the partnership we’ve had in place since 2015 with London’s Dishoom Indian Restaurant to supply their beers.
“We’re also partnering with Joe Public pizzas in Clapham, and most recently opened a food stand in Borough Market to offer Mondo beer and pizza, so there is plenty on the horizon.”
“The end goal is for Mondo to open a bigger retail unit in the coming years, and with Optimum Finance’s continued support, anything is possible.”
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