Picnic was highly commended for a cost-effective, scalable and technically innovative working capital funding solution that was tailor made to help the Netherlands-based online supermarket group continue its rapid growth.
Picnic, whose home delivery service in the Netherlands, Germany and France generated a 26% sales surge last year, sought a liquidity boost that would facilitate its expansion without sitting on its balance sheet as debt. It wanted something cost-effective and easily implemented that could ramp up quickly and would deliver impact from the outset.
A seamless solution
Rabobank and working capital solutions provider cflox came forward with a solution that allows Picnic to extend its payment terms to 60 days at attractive prices with no supplier involvement.
The solution – which launched in October 2025 – uses EBICS-bridge architecture for the first time in the Netherlands. This enables seamless integration between cflox and non-EBICS clients via Rabobank Direct Connect and EBICS.
After suppliers send invoices to Picnic as usual, cflox approves payment to the supplier to settle the invoice on due date. After 60 days, cflox debits the payment amount from Picnic’s reference account and forwards it to Rabobank.
Agile, flexible and scalable
Judges were impressed by the agility, flexibility and rapid scalability of the solution. Zero supplier involvement eliminates the need for KYC on suppliers, as well as dependence on supplier acceptance or participation rates. This improves operational efficiency and means the solution can be implemented and ramped up as quickly as Picnic’s operations expand. And because Picnic’s payables receive favourable balance sheet treatment, it can maintain strong financial ratios and preserve financial flexibility – both critical for maintaining growth.