"The three things I ask myself when making any important decision: will it drive ROI, will it make things more efficient and will it unblock people to be able to do more? Primary unlocks all three. So Primary was an easy decision.”
Purpose, Phase, Presence + Philosophy
Purpose: EQL is a launch platform that helps brands create, control, and convert the energy of their most in-demand moments which turns passion into connection, and in turn, long term value.
Phase: Seed round of A$25m, steady growth internationally with new products like its Shopify app helping it access customers in new markets and verticals.
Presence: Offices in Australia and in the US, and currently serving customers in 20+ markets.
Philosophy: Optimise for ROI and efficiency - remove blockers so the team can focus on strategic growth.
EQL's Primary Problems
Manual treasury management
EQL managed treasury through multiple manual spreadsheets with no consolidated view, reducing certainty over investment decisions due to less clarity on genuine ROI.
Term deposits constantly matured, requiring manual renewal.
Limited USD yield options
EQL struggled to find and co-ordinate liquid yield options for USD balances due to international complexities.
Current banking structures required a minimum six-month lock-in for USD deposits, creating liquidity constraints.
Multi-entity complexity
EQL operates two entities in Australia and the US, and manages multiple currencies (AUD and USD).
Without consolidated visibility, the team was exposed to higher FX costs.
What does Primary unlock?
- Consolidated multi-currency view: EQL is able to see all of its 15+ multi-currency accounts cash balances across two entities in one place and in real-time, providing an informed view on its cash position at any point in time.
- Automated yield generation: Less frustration around manual tracking of term deposit expirations on the balance sheet and lower risk of idle cash sitting in zero interest accounts.
- Instant liquidity for USD: Access funds in days via BlackRock money market account, not locked in 6-month terms with Australian banks.
- FX protection: Confidence that the business isn't exposing itself to unnecessary FX volatility.
"We now have another layer of reassurances over our strategic decisions by stripping out unnecessary complexities in our financial tech stack.”
Every finance team needs a smart CFO
Ben’s view: what makes a smart CFO?
- Maximises ROI with every decision
- Knows enough about everything to be dangerous while building subject matter experts around them / investing in tools that help augment knowledge gaps
- Someone who can see around corners and support strategic direction
Primary: the maker of a smart CFO
- With full visibility into cash, ROI decisions improve, while Primary continuously optimises yield in the background.
- The beauty of the Primary platform is how quickly you become the expert on your finances: clear, visual, and intuitive within minutes.
- C'mon Ben, we don't have a crystal ball! But we are working hard on providing those predictive insights that will help you see the future.
