Faliam is a fast growing health-tech startup working to bring the $500B+ healthcare supply chain industry online. They’re backed by the founders of Flexport, BuildZoom, Bolt, Eventbrite, along with Contrary Capital, A*, and other top investors.
We sat down with Founder and CEO Salar Hajimirsadeghi, to learn more about:
- How Faliam managed their cash before Vesto
- Why they chose Vesto to manage their cash
- How using Vesto feels, compared to big banks
- And their favorite thing about Vesto
Prior to founding Faliam, CEO Salar Hajimirsadeghi was one of the first employees at payments scale-up Bolt, leading business operations. As a founder and early stage operator, Salar understood the power of a well managed corporate treasury. After deeply researching the space, Faliam turned to Vesto to manage their idle cash.
How did Faliam manage their treasury before Vesto?
Before Vesto, we didn't do a good job of managing our treasury – we just didn't have the resources or knowledge to do anything useful with our idle cash, so we just left it sitting around in a savings account, earning little to no return. We just had all this cash sitting around, that we knew could generate return, but didn’t do anything with it.
Why did you choose Vesto?
When we initially spoke with the Vesto team, I asked a lot of questions about how Vesto manages other companies' cash. I did my own research, and read a lot about the treasury management space. After doing lots of research, it was incredible to find a partner like Vesto that can actually manage our cash and act in the best interest of Faliam.
Vesto feels like having our own internal treasury management department, all without us ever needing to hire anyone full time. During onboarding, the Vesto team built out a custom portfolio based on our liquidity needs, risk tolerance, growth plans, etc. which was great. Being a startup, you never know how things will develop, so having a custom tailored portfolio based on our liquidity profile and growth plans was super important to us.
How does using Vesto feel compared to other alternatives?
I think the biggest thing is that when you're using Vesto, we know we are really maximising our returns, while still retaining liquidity. When we just had all our cash in a checking account, we just knew they were benefiting from all our cash sitting there, and we were getting nothing in return. Having a partner like Vesto, where their entire day to day is – how do we position Faliam's cash to stay liquid and earn yield – really feels great.
What’s your favorite thing about Vesto?
My favorite thing about Vesto is obviously the fact that we can get so much return on our cash, while still having the flexibility in terms of liquidity. But, in terms of using the product, I really love logging into the Vesto dashboard and actually being able to see exactly what is going on with our cash – our liquidity profile, cash position, portfolio allocation, etc. It really makes our life a lot easier.
All testimonials are from owners or employees of current Vesto customers. Customers have not or will not be compensated in any way when providing testimonials. This testimonial does not present any conflicts of interest between the customer and Vesto.