Introducing Cédric Rittaud, our VP of Finance! 🌟With over 20 years in finance and a decade in startups, he brings unparalleled knowledge to help us position for market disruption. His strategic insights and experience working at Snyk have prepared him to drive us toward unicorn status.🦄 We are thrilled to have him on board as we aim for a successful IPO and beyond!🐇 https://lnkd.in/gar7iB4y
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Hi fellow founders! Here's a tip from the best Fabio-themed startup finance page out there, OnlyCFO: If you have the means, exercise your stock options early! and read up on QSBS. Better yet, find a professional to help you with this! (Message me for recommendations if you don't have someone in mind.) The entire article ( https://lnkd.in/eaccXw89 ) is worth your time, and I get a lot of value out of the Substack subscription. There are a lot of things to keep tabs on in the world of startup finance and a little planning for success could mean a better outcome when it arrives.
Founder’s $125M Equity Mistake
onlycfo.io
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Forget December, for startup founders, the real year-end is closing the books! This month, we wear the (often stressful) CFO hat. Working with my CA, I realized there's so much founders need to consider. Sharing, some key aspects to keep in mind for a smooth financial year-end close & a fresh start next year! How do YOU handle your startup's finances? Let's me know in the comments below! #startuplife #finance #foundertips
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On a Mission to Raise $200M in 12 Months for Founders Using the S.E.E.D System | Guaranteed Investor Meetings To Close Your Round| $400M Raised
How I Refused to Stay Stuck Within the Confines of Being a CA Being a Chartered Accountant has its merits. But I refused to stay confined by the title. Why? Because I saw a bigger picture. A greater impact. I chose to work with startups. To help them raise capital. To craft compelling stories. To build robust financial models. But I didn’t just stop there I still continue to evolve. That’s why I’ve added Tony as our CIO. And brought in different fundraising advisors. Because the vision is clear. Raise $200M in 12 months. We’re not just dreaming. We’re executing. With a team aligned to this vision. Each one bringing expertise. Each one contributing to the goal. It's about moving forward. About making real impact. About redefining what it means to be a CA. And most importantly, about creating a legacy. Have you ever felt the need to break out of your professional confines?
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Dear founders, Before extending my Christmas wishes, I'd like to wish you a successful budgeting season. As we approach the year-end, we inevitably find ourselves immersed in the annual rituals of reporting, negotiating, and often contending for the budget that aligns with your team's aspirations, as opposed to what investors may deem appropriate. While I hold great respect for investors and acknowledge their significant contributions to financing, it's essential not to overvalue their input in comparison to your own convictions. This is your company, and the battle you wage is for its very existence. Maintain your focus: growth is imperative in our industry. Though some may argue in favor of generating cash, the truth remains that, in the venture capital trajectory, rapid growth is paramount, as stagnation equates to using up your "opportunity cost" coins, essentially a slow decline. Lastly, may your budget resonate with both you and your team. Remember, you are the true risk-takers in this venture, staking everything on a single opportunity. May the startup Gods bless you with a fitting budget before Santa Claus makes his entrance. #Beaconfounders #YourLife #Budget
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Thank you SIBB e.V., it was a pleasure! On Tuesday, I had the honour to do a workshop on Financial Mastery for Startup Success at the SIBB e.V. The workshop was focussed on providing the participants an understanding of the basic tools required to understand, evaluate, and plan their company's financials. During my time as a restructuring consultant, we received many mandates that were heading towards bankruptcy and here are three things I learned, that are vital to know when building a company on a sustainable basis: 1️⃣ Build a solid foundation: When building a company, it is vital to understand what you will need to spend money on and how much, over the next few years. A solid financial model will show you this vital information and allow you to play around with the numbers to understand how current changes will affect your financial situation in the future. 2️⃣ Understand the numbers and their correlation: It is absolutely vital to understand all your numbers and how they relate to each other. • If you want to produce 1/100/1000 more units of your product, how much will this cost you? • If you would acquire 100/1000/10,000 more users to your app or platform today, how would this impact your costs and revenues immediately and in the future? • If you allocate more budget to marketing, where will you lose budget for other topics? 3️⃣ Numbers don't lie! A company's financials always show the truth about a company's performance. If the numbers don't make sense, either something is wrong in your operations, someone didn't gather the right data, or someone didn't book the data correctly. Make sure to always pay close attention! Do you have a story where looking at the numbers made you realize or discover something? PS: Thank you Christoph Körner for taking a picture with me! 😀 #sibb #startup #finance #nxtmilestone
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Here's the reason why financial literacy matters (a lot more than you think): The terms of a deal are usually way more important than the actual price. I'll give you an extreme, oversimplified example. Let's say your company is worth $30m and I make you an offer for a BILLION dollars. If we stop right there, that would make 1)me a total idiot 2)you one of the most successful and astonishing startup exits. But that would be too easy, wouldn't it? Because here's what's actually written in my offer letter when you look at the actual terms : "The founder will receive $1bn in cash only upon the successful completion of the following event: a $10bn exit" What actually happened is : I bought your company for free and even though I agreed to pay you $1bn *in theory*, the probability of that happening in the future is so incredibly low that you would've gotten a better deal selling the company for crickets. Now you won't see THAT in the real world (or call your lawyer right away)... But I always try to keep in mind : As long as you have 100% control over the terms, you can agree to virtually any price... And still win.
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£10,000 and 3 months to prepare a pre-seed financial model... ridiculous but true 😤 When we started out with Caena and spoke with UK founders on their experience building fundraising models, we received a wide range of responses The wildest was a founder who paid a consultant 10k for a model ahead of his fundraise. Guess what's even worse than money spent and time taken? The model was completely useless for his process as investors couldn't understand the complexity One of the most insightful questions form the financial modelling session with Literally Helping Startups last night was "what should an early-stage financial model look like?" ✅ Simple: that 10 worksheet model? Scrap it ✅ Clear: your message (e.g. ambition and key drivers) must be crystal clear within 5 mins. ✅ Reasonably priced: don't go spend thousands on a model. I'm biased but it should cost next to nothing Remember, you're not a post IPO company, all your numbers are most likely B.S It's the thought process and assumptions that count not the actual output Many thanks Eva Dobrzanska, Robert McIntosh and Jonny Boyarsky for having me Founders check out LHS on discord, it's the place to be for support and resources #knowyournumbers #startupfundraising
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5 (FIVE) years. 1,825 sunrises. It's a surreal feeling looking back on my journey at M2P Fintech, a journey that's been as exhilarating as a rollercoaster, as cozy as a family reunion, and as transformative as the best primary school for Executives (we do learn a lot here!). From a Startup company with audacious dreams to a global fintech leader, I've witnessed M2P's evolution firsthand. My growth has mirrored this remarkable ascent. It's all thanks to a culture that thrives on four magical Pillars: DIY, Rainmaker, Learn, and Go in detail. These weren't just mantras echoed in hallways, but battle cries we lived by. Founders, champions of self-reliance, instilled in us the spirit of DIY – "Do it yourself," because ownership breeds excellence. We weren't just cogs in a machine; we were the architects of our own destinies, empowered to take initiative and make things happen. But what fueled this engine of innovation and The "Rainmaker" philosophy. We chased deals not just for Dollars, but because we believed in the transformative power of our solutions. Every client onboarded, every partnership forged, was a testament to our relentless pursuit of making a difference in the world. Of course, there were stumbles along the way. But that's where the "Learn" mantra kicked in. M2P has a culture of open feedback and continuous learning. We weren't afraid to fail; we embraced it as a stepping stone to growth. Every setback was a lesson learned, every hurdle a testament to our collective resilience. But what truly sets M2P apart is its heart. The mantra "Whatever happens in the family stays in the family" isn't just lip service. It's a tangible warmth that permeates every interaction. We celebrate wins together, lift each other up during down times, and know that no matter what, we've got each other's backs. So, as I embark on my sixth year at M2P, I do so with a heart full of gratitude and a fire in my belly. This company isn't just a workplace; it's a family, a home where I've learned, grown, and yes, even gotten the house down a few times! Here's to many more years of pushing boundaries, making a difference, and proving that dreams, no matter how audacious, can be built brick by brick, fueled by passion, and guided by the four pillars of our culture. Cheers to five years, and countless more to come!
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From startups to mature businesses, credit unions are the secret ingredient behind small business dreams coming true. Our latest blog post by Mike Horrocks reveals the incredible ways credit unions support and empower small businesses throughout their journey. 🚀💼 👉 Discover how credit unions provide tailored solutions, expert knowledge, and vital resources to help startups thrive and grow. 👉 Learn about the collaborative partnerships between credit unions and the Small Business Administration (SBA) that drive businesses to the next stage of success. 👉 Dive into the unique insights credit unions offer when it comes to solving complex issues like repricing in Commercial Real Estate (CRE). Don't miss out on this incredible blog post! Read it here now: https://lnkd.in/gduryQFd #SmallBusiness #WhyNot
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Who likes surprises just in time for a closing? How about unexpected fees or costs on the day of closing ... when it may be too late to address? 🤦♂️ Instead...GET YOUR CLOSING INVOICES AS FAR IN ADVANCE OF CLOSING AS POSSIBLE Your title company should have a close-to-accurate invoice available soon after a transaction is started. There may be additional fees as a file progresses to closing, but nothing out of left field. I like to upfront and don't wait for the day of closing for you to see my title bill. If you have any questions or concerns, I want to address them NOW ... and not wait for the day of closing, when you dealing with 100 other things! #titleinsurance #titlecompany #startupvibes
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