Momi boosts the growth of its platform with Aria
Momi is a platform connecting freelancers with businesses specialising in commercial real estate, infrastructure, transport, and energy. The payment terms of its large-scale clients can extend up to 60 days, which posed cash flow challenges for both the freelancers and Momi. Thanks to Aria, Momi can now request the financing of its freelancers’ invoices within minutes, with funds released within 48 hours. Today, Momi utilises Aria as a strategic tool to support its growth.
The Challenge
Payment delays that threatened freelancers’ cash flow.
Momi connects client companies with independent workers in the sectors of commercial real estate, infrastructure, transport, and energy. Among its clientele are names such as Constructa, Sodexo Energie & Maintenance, Colonies, SNCF Réseau, and Paref Gestion.
However, their remit goes far beyond mere introductions. The platform also employs project managers, who assist both client companies and freelance service providers.
On the freelancer side, Momi offers comprehensive support. The platform acts as a business introducer. It also aids them in enhancing their personal branding by improving their LinkedIn profiles and online visibility. Furthermore, they’ve negotiated preferential deals for services like retirement supplements (with Caravel), accounting solutions (Indy and Qonto), and co-working spaces.
For businesses, Momi delivers expert profiles with specific skills in commercial real estate (Asset Manager, Property Manager, Technical Manager), construction (Architect, Energy Specialist) and energy auditing, as well as emerging roles like drone pilot.
In this industry, companies don’t settle invoices upon issuance but at their due date. Especially with large corporations where payment terms can stretch up to two months.
Yet, freelancers are confronted with everyday expenses that require immediate payment (groceries, outings, unexpected costs…). Momi tried advancing funds from its own reserves but was constrained by limited amounts, thereby putting its own cash flow at risk.
The Solution
A SaaS tool to provide advances in just a few days
In pursuit of a financing solution, the Momi team reached out directly to Clément, the co-founder of Aria.
Once Momi’s account was set up on the Aria platform, funding requests were made within minutes. Money is typically transferred to freelancers in less than 48 hours once the financing is approved.
The funding procedures are robust enough to offer cash advances to younger and/or smaller businesses, ensuring no freelancer or company is left out.
Momi relies daily on Laura, their Customer Success Manager. For each new Momi team member’s onboarding onto the Aria system, the process flows through this single point of contact.
Additionally, there’s a dedicated support channel where Momi can quickly highlight potential issues and receive answers in very short timeframes on any matter.
Results
No cash flow issues and a new strategic tool for Momi
- Smooth user experience for both businesses and freelancers
- A strategic tool to support Momi’s rapid growth
Momi remains focused on its core business and the development of its platform, without diverting resources to provide advances and manage collections. Its accounting challenge is now limited to commission recovery. Client companies don’t receive follow-ups from freelancers, ensuring they too remain focused on their primary operations.
In sectors where freelance work isn’t yet mainstream, Momi, with Aria’s help, provides excellent payment terms. The platform eliminates money transfer delays to suppliers and allows clients to work with freelancers under the same terms as their regular suppliers.
In its business development, Momi uses these points to persuade companies and freelancers to collaborate with them. Concurrently, Momi can forge new partnerships without cash flow constraints.
Lastly, Aria presents a solution that’s clear and easily understood by Momi’s partners, eliminating the need for complex accounting procedures.
