Case study · Cleantech / Energy
SolarMente: preparing finance for fundraising and an acquisition
Financial modelling, a data room, board reporting and financial integration: the work of a Fractional CFO in a growing cleantech business.
By Iter Advisors · Published · Updated
The starting situation
A Spanish cleantech scale-up growing rapidly and expanding from Spain to the United States. The finance function needed to be built to support an international funding round: there was no multiple-scenario model or consolidated investor reporting, and the finance tools needed integration.
Management's need
Manage an international Series B in an unstable regulatory and macroeconomic environment, while also pursuing an acquisition and building a finance function that did not yet exist at this scale.
The work carried out by Iter
Strategic finance leadership and management of the finance function. Series B financial preparation: multiple-scenario modelling with decision triggers, data room, coordination of due diligence, valuation and term sheet negotiations. Execution of the Eltex acquisition in 2024, from sourcing to finance integration. Integration of Stripe, Payhawk, PayFit and Vuala. Weekly involvement and participation in management committees and board meetings.
Engagement deliverables
- Multiple-scenario financial model and decision criteria
- Data room and tracking of due diligence questions
- Board reporting and cash control procedures
- Financial integration of the Eltex acquisition in 2024
Results and their scope
- Financial preparation for international fundraising
- Eltex acquisition in 2024 and integration of the finance function
- Multiple-scenario model, data room and cash control procedures implemented
The case covers 2022–2024. The transactions involved management, investors and their advisers. The role described here is finance leadership; their success cannot be attributed solely to Iter's support.
Client feedback
Read management's testimonial on the review platform.
Testimonial by Victor Gardrinier, SolarMente co-founder, on TrustfolioA similar need in your business?
The initial conversation identifies your priorities, useful deliverables and the appropriate profile. Scope and budget are agreed before work begins. Fractional CFO responsibilities for SMEs and startups.
Describe my needs