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C2FO Powers Early Payment Programs for the World’s Largest Companies.
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Rest Devices leads the market in connected devices for the nursery, including its premiere product, Mimo. They use C2FO to keep their supply chain moving.
Does your baby have trouble sleeping? Thanks to Rest Devices, there’s an app for that.
Rest Devices is a market leader in infant sleep monitoring. Its premier product, Mimo, is the first smart wearable baby monitor—a onesie that integrates naturally into a baby’s sleep routine. It then provides real-time data on respiration, body position, skin temperature, and activity level to a parent’s smartphone.
As a hardware company, Rest Devices has to invest resources in R&D. Once a new product or feature is designed and tested, the time between ordering new product and getting paid can create a challenge.
Co-founder and CEO Dulcie Madden started feeling cash flow pressure when Rest Devices began signing its first big deals.
“When you start to set up your first big retail accounts, you have to outlay this huge amount of inventory, put all this money on the line, and then most of them typically have net 75 or net 90-day terms. When you are desperately waiting for cash that’s a really long time to get it in the door so you can start ordering more inventory,” she said.
Dulcie was introduced to C2FO through Amazon, one of her first large customers, and she immediately recognized the opportunity to take control of her cash flow.
“C2FO means we don’t have to wait. We can get cash in the door and put it right back into working capital for inventory or other parts of the business,” she said.
The quick access to cash C2FO provides means Dulcie can keep the business growing. C2FO’s easy setup and great customer service were just the cherries on top: “I would definitely recommend C2FO to another supplier. It’s so easy to use, the account managers are really friendly and helpful, and it takes literally seconds to set up.”
Without having to wait 90 days to get paid, Dulcie can focus on what’s next—growing her product line and expanding into new markets.
Rest Devices uses C2FO to boost its working capital so it can continue to grow its business.
C2FO delivers funding quickly and is easy to use.
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