The cash that was always there: the origin story of working capital as a funding source

August 3, 2026 · 5 min · Free, with full transcript

Long before supply chain finance and dynamic discounting entered the CFO's vocabulary, companies were quietly drowning in cash they already owned but could not see. The story of how working capital became a recognised source of internal funding is stranger, and more instructive, than most finance textbooks admit.

The transcript of this episode is being prepared.