Why do you need a CFO?

I have been a part of the Chicago venture community since 2012, when I took my first Controller role at a loyalty tech platform, Belly. My experience at Belly and subsequent roles provided me an important insight….

Do things the right way from the beginning.

Turning an idea into a product is very difficult; but founding teams often underestimate the challenge of building a scaled business. The seed/angel round were successful based on a vision, but the Series A/B will be the first test of your leadership team and management.

CFOs are in a unique position to bridge the gap between the strategy of your leadership team, and the expectations of future investors. A good CFO will ensure that a team’s focus will align with value creation, that capital is spent in the right areas of the business. They should enable future fundraise conversations, and make it less painful.

I make sure all Backbend CFOs know the importance of being a business partner for your team, and are ready to roll up their sleeves and help your team build something special.