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Start date: August 2023
Type of mission: CFO, Controlling
Business: Ecological Urban Mobility
Initial sales: €15m
Number of employees: 200

Mission summary

Begun in January 2023, our collaboration with YEGO, an innovative company in the field of eco-friendly urban mobility, represented a crucial step for this fast-growing company. When we arrived, YEGO was facing major challenges, because although it was growing fast, the Finance function lacked structure. Our mission consisted of :

• Seeking financing for Capex acquisition
• Overhaul of reporting tools (Cash-flow - P&L and Balance Sheet)
• Preparing the 2024 City-level and Groupe Level budgets
• Managing relationships with chartered accountants in Spain and France
• Implementation of a Saas solution for the company's purchasing management
• Supervision of the closing of the Consolidated Financial Statements and Coordination of the Annual Audit

Team and commitment

Two members of our Iter Advisors team were involved in this mission, working an average of 2.5 days a week to meet YEGO's intense operational needs. (1 CFO and one Senior)

Results

• Raising of 5M€ Non Dilutive
• Overhaul of reporting tools (Cash-flow - P&L by cities, HQ and Balance Sheet)
• Preparation of the 2024 Budget Bottom-up, Consolidation, and City-level (8 Cities) and Groupe Level (8 Departments)
• Redefinition of the various cycles to be controlled with the chartered accountant. Creation of processes and monthly controls to limit errors.
• Implementation of Payhawk (IMS) to centralize Group purchasing management
• Annual accounts closed and audit performed (Consolidated, ESP and FR)
• Reliable monthly financial reporting on D+15
• Subsidies for R&D staff generating savings of 50k in social charges for the Spanish structure.