Australian Courier marketplace
The Client, a courier marketplace (platform allowing customers to book couriers via the web or app), was growing users and revenue at a fast rate. Whilst also increasing its investment in product development, people and marketing. The business had raised capital over two funding rounds and was looking to expand Australia wide and overseas.
The company had a bookeeper who looked after the day to day; paying bills, bank reconciliations and invoicing clients. Steve the CEO recognised the need to focus on the future and the businesses growth strategy. There was a capability gap in the team to assist with strategic and financial planning.
James was engaged to oversee the finance function – liaise with the tax accountants, mentor and manage the bookkeeper, improve processes and create monthly board reports.
It was imperative that a solid long term financial plan was developed in order for the business to raise a third round of capital and allow the CEO to prioritise investments in marketing, people and development. James created a 3 year model bring in key metrics such as new paid users, cost per acquisition, monthly active users and churn (obtained from data mining the proprietary platform) and modelled out their two key revenue streams (retail and holesale).
Steve and James prioritised the key investments required to reach the ambitious goals of 5x revenue in two years. The financial model formed the basis of an annual budget and a plan that they could sell to investors.
James helped the business come up with a valuation and make a decision on an acquisition of a courier business.
The business completed a multi million dollar third round of funding. James built the long term financial model which was used for a valuation.
A finance rhythm was implemented including; a detailed review of xero with internal accounts staff, monthly board reporting and creation of a budget and model with targets on key financial and non financial metrics.
Given the growth, the business outgrew a part time CFO and required a full time resource. James was involved in the hiring process for the new full time CFO and transitioned the work over a 6 week period.
During James’s fourteen months working with Zoom2U revenue grew 3 times and the business is poised for exponential growth. The Australian Financial Review reported on Zoom2U’s success.
James developed a deep understanding of the Zoom2U business, his strategic acumen and ability to mine and interpret data helped me make critical decisions, that grew the business 3x in a year. He developed crisp reporting shining a light on performance and helped us through a major funding round. I would recommend him to other startups looking to grow