Ukio
Start of assignment: May 2022
Type of assignment: CFO, Due Diligence
Activity: Flexible housing rental
Initial sales: €5m
Number of employees: 60
Mission summary
Commencing in May 2022, we were involved in the due diligence for a $30M Series A capital raising. The ongoing migration of Holded's ERP to SAP, did not allow Ukio to develop Financials for the DD, nor to propose a solid BP for investors.
We intervened in a crisis context to enable Ukio to carry out its due diligence successfully.
At the end of this assignment, we took on a second Interim CFO assignment, while we hired a new CFO.
Team and commitment
An experienced Iter Advisors CFO was involved in this assignment, working full-time over a 4-week period to meet the intense operational needs of the mission.
Results
- $30M raised on schedule
- Interim CFO :
- Clearing of 2021 and 2022 suspense accounts
- Recruitment of Key People for the Finance Department (Finance Manager, Treasury manager, Finance Controller)
- Steering the finance department for 3 months, helping to hire the new CFO
Conclusion
Following the successful raising of $30M, we were called back in September 2022 to take on an interim assignment and start structuring Ukio's finance department, opening up numerous projects ranging from catching up on accounting, to building a future team and finance department processes.
