Nexl video
"We work across multiple currencies on both revenue and cost base, and needed a simple and scaleable way to manage our cash and FX risk in real time”
Purpose, Phase, Presence + Philosophy
Purpose: Nexl is an AI-powered CRM for mid-market and enterprise law firms that empowers lawyers to business development.
Phase: Series B of $23 for aggressive growth across the US, AMEA and Australia.
Presence: Offices in Australia, USA and London, serving law firms globally.
Philosophy: Relationships are the foundation of growth. Nexl partners with great people and seeks out simple, scalable tools that remove friction from the growth process and make collaboration effortless.
Nexl's Primary Problems
Complex yield options
Following the Series B raise, Nexl had multiple capital deployment and yield opportunities across regions. These options were fragmented and not visible in a single, centralised view, making them difficult to monitor and evaluate over time.
The resulting complexity led to decision paralysis.
FX hedging strategy
Nexl operates across Australia, the United States, Canada, and the UK, each with different cost and revenue bases.
Managing four currencies required frequent FX transfers, but limited visibility into exchange rates, timing, and exposure made it difficult to execute an effective FX hedging strategy.
Real-time cash visibility
Cash balances were held across multiple currencies and jurisdictions, without real-time consolidated visibility. This limited the ability to make fast, informed global decisions around liquidity, investment timing, and capital allocation.
What does Primary unlock?
- Set-and-forget investment strategy: Nexl implemented an automated investment framework for its recent funding round, ensuring idle capital was consistently deployed to generate optimal yield without impacting operational liquidity.
- First-time FX hedging framework: A structured FX hedging strategy was introduced, giving the business confidence that it is protected from unnecessary foreign exchange volatility that hits the bottom line as the company scales internationally.
- Real-time global cash visibility: Live, consolidated visibility across revenue and cost bases in AUD, USD, CAD, and GBP, enabling faster, better-informed decisions on cash allocation, investment, and risk management.
"The decision to use Primary has significantly changed our finance function…and we will continue to partner with them as we scale”
