"With Parker, it's a set balance from day one. You know exactly how much you're getting – and if you want more, it's an open conversation with their team. That created more transparency for our accounting team and made our lives easier." - Kevin Chanthasiriphan, Co-Founder of immi

Learn how immi, the world’s first healthy ramen brand, uses Parker to unlock rolling payment terms, extend their runway, and optimize vital cash conversion cycles.

About

immi ramen took everyone's favorite snack and gave it a much-needed facelift, creating the first high-protein, low-carb instant ramen. After launching in early 2021, the brand has seen an almost 8x increase in sales year over year – an incredibly impressive growth trajectory.

Challenge

As a CPG brand that relies on international shipping, managing cash conversion cycles is vital to immi's growth. When the brand first launched, they were told that the faster they grew, the more cash they’d burn. This hit home: their cash-out date accelerated and became a massive pain point. Pandemic supply chain delays and immi's push to retail only exacerbated the issue.

immi has tried every credit product out there — Rho, Ramp, Brex, you name it — and found that they’re largely undifferentiated. No one provided white-glove service or seemed to care about them as a client. Other financial services providers required immi reach $1 million in MRR, before giving immi access to baseline benefits, but these providers failed to offer means to actually accelerate company growth. Critically, none of the legacy offerings of cashback or points actually added tangible value to immi as a business.

"Other banks asked us to reach $1 million in revenue in order to start receiving benefits. Nobody was willing to offer us terms that’d accelerate growth until Parker. It was a no-brainer for us to get on board with them."

Solution

When immi connected with Parker, they realized how unique the offering is. Our card doesn't come with a 30-day statement and grace period – it has true rolling payment terms.

Kevin Chanthasiriphan, Co-Founder of immi, immediately thought, "We've got to sign up. I've never seen payment terms like this." He was also impressed by Parker's generous, flexible underwriting for brands. In the end, getting on board was a no-brainer.

Parker was the perfect solution to grant immi extended runway and breathing room between cash conversion cycles – something that legacy credit products failed to deliver on.

Strategy

The Parker card saves time for immi's accounting team because our terms are clear. Previous plans (i.e. 30 days plus a grace period) were always opaque, making it difficult to successfully project revenue trajectories for the next month or know how much money was in the bank.

Parker provides credit transparency to simplify accounting

With Parker, immi's balance is set from the beginning. It's clear how much cash they’re getting.

If they need more to invest in ad spend or inventory, there’s an open dialogue with the Parker team.

This creates transparency for immi's accounting team, further streamlining their work. immi also reports that the Parker team was hands-on during onboarding, and client support continues to be fantastic to this day.

How Parker slots into immi’s financial stack for the future

To get a sense of how Parker has slotted into immi’s future, Kevin points out that his team has made sure that Parker’s credit product is always accessible – no matter which additional financial products are added to their stack. Every time the immi team speaks to a credit provider, immi includes a carve-out in contractual negotiations that’ll allow them to keep using Parker.

"Parker has become a non-negotiable tool in the core financial stack at immi. It really feels like we have a true financial partner directly embedded in our team.”

Results

Since switching to Parker, the most prominent benefit for immi has been the cash freed up. This liquid cash enabled them to make several strategic moves. On the marketing side, it's expanded its monthly operating budget, allowing them to experiment with new acquisition channels.

They've also hired eCommerce growth agencies to run homepage optimization tests, for which Kevin affirms they wouldn't have had the cash to do so without Parker. As a result of these efforts, immi's site conversion rate has increased substantially.

On the sales front, immi is using their newly available capital to bolster its broker ecosystem and hire SDRs. They aim to expand into retail to continue diversifying revenue channels. Again, Kevin adds that without Parker's terms, the capital would've been tied up. Without Parker, immi wouldn’t have the runway to hire or expand as aggressively into omnichannel outlets – a key ingredient to their continued growth plans.

“Without Parker, it would’ve been hard to find a suitable alternative to extend our cash flow cycles – especially given today’s uncertain financial markets.”