Source: Alison Coleman, Forbes It’s a question that most entrepreneurs will have asked: should you keep your profits or reinvest them in growth? Ploughing every cent back into production has traditionally been a golden rule of survival for fledgling startups. Yet there will be times when it is better for the business to focus on one rather than […]
Balancing Profitability Versus Growth Read More »
Source: Clement Vouillon, Point 9 Capital Since I wrote “The Rise of Non “VC compatible” SaaS Companies” I’ve been in touch with many bootstrapped founders, brokers or SaaS acquirers and I’ve followed the development of the space by reading articles and listening to podcasts. The following post is a summary of what I saw evolving
Bootstrapping Your SaaS Business – What’s Changing Read More »
Source: Lend Edu, Dave Rathmanner They say that death and taxes are the only two things in life that are certain. But if you own your own business, there is one more thing that you can count on – your need of capital. Whether you’re starting or growing your small business, money is necessary to buy
Best Options for Small Company Loans Read More »
Late last year, SolarWinds (NYSE:SWI), a leading provider of powerful and affordable IT management software, acquired Charlotte-based SentryOne, a leading technology provider of database performance monitoring and DataOps solutions on SQL Server, Azure SQL Database, and the Microsoft Data Platform. Over the past 16 years, SentryOne has built a strong, well-respected product portfolio guided by
SF Client SentryOne Acquired by SolarWinds (NYSE: SWI) Read More »
Source: Jeff Wright, Hitachi Business Finance After the Great Recession of 2008-2009, the economy experienced a decade of growth. M&A and private equity investment were at high levels, interest rates and unemployment were low and other economic indicators were favorable for investing and lending opportunities. Banks, with plenty of funds to employ, helped fuel this
Loan Workouts – Understanding Various Options Read More »
Source: Nirvikar Jain, former CEO, banker, and strategist at ICICI, Citi, Bank of America, and FAB. Fintech is a popular contemporary buzzword and many of its products touch our lives every day. A fintech simply refers to a company that operates in the financial services sector and leverages the power of technology to simplify, automate,
How to Value a Fintech Startup Read More »
Source: Authored by: Jay Bigelow, Director of Entrepreneurship, CED As most or all entrepreneurs already understand, raising equity capital is hard and not for everyone. The first round after your friends, family and fools’ round is really hard if you haven’t done it before or don’t have a high net worth network. For most companies
The Value of Angel Investors Read More »
Source: Kelsey Simpson When it comes to finance and accounting, it’s common for some new business owners to feel overwhelmed; especially if they have no prior experience with bookkeeping in any form. Business owners will often hire local accountants to take care of their finance and accounting needs, but in the earliest days of a
Finance & Accounting 101 for New Small Company Owners Read More »
Netsmart recently announced the acquisition of GPM, a North Carolina-based Software-as-a-Service technology and services company, dedicated to supporting Long-term/Post-acute care (LTPAC) medical practices that provide medical care to geriatric patients – many of whom reside in skilled nursing facilities. This acquisition extends the Netsmart CareFabric platform to deliver interoperable data sharing between long-term care facilities
Scale Finance Assists GPM with Acquisition by Netsmart Read More »
Senior Controller & Director schefke (at) scalefinance.com Controller—Monarch Division of Tompkins International, Raleigh, NC (2018 -2020) —Assist management with the creation of a new business unit dedicated to an integrated warehouse solution for various customers at several distribution centers. Senior Controller—Scale Finance, Raleigh, NC (2012 – 2017)—Assist various small businesses with the creation of accounting
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.
