Boltshop.nl is a one-stop online shop for electronics, mobile devices, wearables and gaming. The company started in 2020 and immediately found itself looking for a banking solution. After going through the motions with some traditional banking partners, the co-founders of Boltshop became aware of Juni during its beta-phase and signed right up.
As an ecommerce retailer, Boltshop has a significant monthly overhead which is spent on both inventory and ad spend. Prior to Juni, the company had card benefits which did little for their business. “We went through the motions of testing a number of traditional banking partners - but none of them really understood our needs as an ecommerce company”, explains co-founder Max Bekink. While this started with credit card benefits, it went much deeper.
Boltshop is an online retailer which buys, sells, and ships internationally. Not having the option to pay different international suppliers or receive international payments in the right currency was costing them a significant amount in FX fees, which was directly affecting their margins. “While FX fees were one pitfall for us, the other was the overwhelming amount of admin that came with all our international transactions”, says Bekink.
With their previous banking partners, their pain points were simply not being addressed. The functionalities of the traditional banking platforms were not geared towards the optimisation of the sheer volume of international transactions which Boltshop was doing on a monthly basis. “We were drowning in admin, but they couldn’t come up with an ecommerce friendly solution for us”, explained Bekink. As a fast moving business, the inability to give input and feedback to their banking partners product offering was leaving the Boltshop team overwhelmed and frustrated.
Boltshop went through the onboarding process with Juni and was able to quickly set up accounts in EUR and GBP. This was particularly important for a company registered in the UK and doing business both inside and outside of the Eurozone.
Juni’s payment system working incredibly fast has been super important for the speed at which they can operate. Next to this, Boltshop is able to open multiple Juni Mastercard Corporate cards in both currencies they operate in. Having dedicated cards for each vendor has saved administration headaches and processes because they can categorise their payments with ease. If a Boltshop employee needs a card, they can simply create one for that person and set the limit, instantly giving full control over the spend. "Juni has massively helped us gain a new level of control over our business", says Bekink. And that control gives Boltshop complete peace of mind.
The biggest perk Boltshop has gained with Juni has been the feeling of community. Boltshop was directly connected to their own dedicated account manager at Juni who takes care of all their needs and wishes. Boltshop, having joined Juni in Beta, has also been involved with Juni's product development, allowing them to deliver input and feedback on the features and tools Juni offers to ecommerce businesses. "The Juni team has truly made us feel like part of the community", explains Bekink.
Boltshop continues to grow its business thanks to Juni’s Mastercard benefits and multi-currency accounts. Going forward, a major part of their growth journey is credit, made available to them by Juni. Boltshop is using Juni credit to build upon their foundations in the products they offer in their webshop. Juni is there to advise and take care of all of Boltshop's needs along the way. The sky's the limit.
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