Source: Firas Raouf, OpenView Partners Board-of-director-level issues rarely surface when the going is good. Board meetings are pleasant when the company is executing well, revenue is growing, the value of the business is rising, and shareholders are starting to count their money. In these times, board meetings tend to be relaxed, and mostly focused on […]
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Source: Jane Porter When it’s time to look for a tax accountant, you want one who not only can help save you money and avoid potential trouble with the IRS, but can also provide useful information for your business, such as the accountants from https://galloandco.ca/. “We tend to think of accountants as numbers people, but
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Raleigh-based fitness and nutrition programs company RivalHealth has raised $3 million to enhance its product offerings and expand its sales force. Fulcrum Equity Partners led the round of investment in the Raleigh company, with participation from WRD Capital and other unnamed investors. Scale Finance has provided part-time Controller Services to RivalHealth for over a year.
SF Client RivalHealth Completes $3 Million Equity Raise Read More »
Source; Lee Weisbecker, Triangle Business Journal The establishment of a state venture capital fund is on the McCrory administration’s agenda for revamping North Carolina’s approach to economic development. Commerce Secretary Sharon Decker, in a recent public appearance, confirmed the initiative, but she offered few details, including the targeted size of the fund or the organizational
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Source: David Worrell, CFO, Scale Finance LLC Is there a thief working in your office? I’m not talking about a convict wearing an orange jump suit. I’m talking about a well dressed employee who is, at this very moment, ripping you off for thousands — maybe millions — of dollars. Would you even know if
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Depending upon the tax treatment of stock options, they can be classified into qualified and non-qualified stock options. Qualified stock options are also called Incentive Stock Options (ISO). Profits from the exercise of Qualified stock options (QSO) are taxed at the capital gains tax rate (typically 15%), which is lower than the rate at which
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Source: Nick Petri, OpenView Partners A Forbes article from a few months ago has been circulating around the office called “Why Do VC’s Cold Call?” The article is written from an Entrepreneur’s perspective (his name is Steven Rosenbaum), and essentially concludes that cold calling has no place in the VC-startup relationship. From our perspective here
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Every business, large or small, needs to be covered by various forms of insurance; however, it’s often misconceived that small companies do not face the same exposures and risks, and therefore do not generally require certain forms of insurance. This is not necessarily true. In fact, a small company will have a far more difficult
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Cell Phone Repair Franchise Systems, Inc., is the most widely known and respected brand in the cell phone and gadget repair industry. CPR® (www.cpr-stores.com) is the largest player in the industry with an anticipated 200 locations slated by the year 2013. Scale Finance provides CFO services for CPR and facilitated a senior debt bridge financing for
Scale Finance Closes Financing for Cell Phone Repair Franchise Systems Read More »
Wellness Corporate Solutions, LLC (WCS) is a state-of-the-art corporate wellness company committed to providing a variety of high-touch, comprehensive wellness programs with an emphasis on the health education, behavior change and well being of employees. Founded in 2004 and based in Cabin John, Maryland, WCS (www.wellnesscorporatesolutions.com) partners directly with employers or through partnerships or brokers,
Scale Finance Closes Financing for Wellness Corporate Solutions Read More »
Graf Research™ unleashes innovation by developing ideas into disruptive technologies. The Graf mission aims to perform research, provide services, apply analytics, and create products that enable secure, high-performance, embedded, and adaptive computing solutions.
When the Director of Finance for Graf was leaving the company, Graf needed an experienced financial team to get them through the transition. Managing Director Gary Hayes was introduced to Graf and determined that CFO Rendy Richards and Controller John Schefke would be an ideal combination. These two were particularly important because Graf is a U.S. Government contractor, and both Richards and Schefke have strong backgrounds and deep skill sets in this industry.
The two Scale Finance professionals quickly responded to Graf’s time-sensitive need, logically split up the work, learned the DELTEK version used by Graf, introduced more efficient processes and techniques, and helped meet their financial reporting needs. Our professionals also determined that the Senior Staff Accountant was underutilized and helped her grow into a permanent, cost-effective Controller role.
FX HedgePool (FXHP)
FX HedgePool (FXHP) is a New York and London-based highly innovative fintech company. FXHP is an award-winning peer-to-peer matching platform that optimizes the FX swaps market. The Company eliminates market impact and minimizes the effects of volatility – significantly improving outcomes for all investors.
FXHP’s unique credit model separates liquidity from credit, creating a new source of safe and dependable liquidity for the swaps market. The Company exists for the community, guided by the community with a “win-win-win” commitment that helps members, underlying investors, and banks yield safer and better results.
Scale Finance began serving FXHP years ago, providing annual business valuations to support 409A compliance for the Company’s management incentive equity plan. During this period, Scale Finance Managing Director Dave Gilroy advised FXHP about potential strategic corporate transactions. In 2022, the Company decided to raise institutional venture capital. Scale Finance managed this process from end to end, resulting in a highly successful closing of an $8 million Series A equity financing led by Information Venture Partners with participation from Fidelity International Strategic Ventures and NAventures (National Bank of Canada’s corporate venture capital arm).
Scale Finance continues to provide periodic business valuation support.
Heritage Trust
As the first independent trust company in New Mexico, established in 1994, Heritage Trust (HT) uses innovation, experience, and flexibility to meet clients’ needs. HT provides a full range of trust services, e.g., acting as their client fiduciary for their Trust assets, being an executor or personal representative related to the distribution of estate assets, managing and growing financial assets, and preparing annual tax returns for trusted clients.
Co-Founder and Managing Director of Scale Finance Gary Hayes has been providing CFO and managing Controller support since February 2021. We have streamlined their monthly and year-end close process and established budget/forecast capability to support management. Their business has grown over 40% since Scale Finance has been involved with the company’s financial management. Gary has also participated in Board Meetings as and when needed.
Southland Transportation Company
Southland Transportation provides transport, supply chain, and campus management services on a local, regional, and nationwide basis. When Southland contacted Scale Finance, they had a strong accounting staff but no Controller or CFO. After an unsuccessful search for a full-time CFO, Southland engaged CFO and Partner Rendy Richards as their fractional CFO.
Over 18 months, Richards helped integrate a new acquisition, made improvements in accounting and finance processes, developed the company’s first-ever annual budget, helped with the onboarding of a new Controller, and provided business valuations in conjunction with Scale Finance’s Managing Director, Dave Gilroy.
For over six decades, Cooper Electrical has served a wide range of industrial, commercial, and municipal customers across the Southeast, providing best-in-class Electrical Design/Build, BIM, Prefabrication, Instrumentation & Controls, and Calibration services. Cooper’s expertise spans multiple major markets, including bio-pharmaceutical, chemical, water & wastewater, power generation, manufacturing, gas production & transmission, and food & beverage.
When Cooper’s CFO left the company for another opportunity, the owners engaged Rendy Richards as interim CFO while they searched for a full-time replacement. On a half-time basis over eight months, Richards kept the company’s financial organization humming, made improvements in several business processes, initiated a detailed financial forecast, and met with the owners to share his observations and recommendations on the most feasible way to staff their finance and accounting department cost-effectively.
SymmetryRX, LLC
SymmetryRX is a leading provider of eSampling services allowing Pharma Manufacturing companies to access physician practices for the ordering and distribution of drug samples across the US. The Company was acquired in November 2018 from Aptus Health, a wholly-owned subsidiary of Merck. Since then, the company has expanded its robust suite of services that provides pharma manufacturing executives, brand managers, sales managers, product managers, and launch managers the ability to help more patients have greater access to samples, improving medication adherence and healthcare outcomes.
Co-Founder and Managing Director of Scale Finance Gary Hayes has been providing CFO Services to the Company since 2018 and was integral in the acquisition process, facilitated initial financing to support the company with a 7A SBA loan package of $600 thousand and an SBA-backed $300 thousand LOC. Since then, Gary has been actively providing CFO support across financial reporting, budgeting, forecasting, cash planning, and strategic planning.
