Stewart Roberts, CFO of fast-moving fintech company iZettle, talks AccountingWEB through some of the measures the company has taken to manage its growth.
A common misconception is that successful start-ups routinely convert their rapid growth to multi-million pound success. However, as demonstrated time and again if not managed correctly rapid growth can lead to financial, quality and reputational risks that may bankrupt the business.
For Stewart Roberts, executive vice president and CFO of Swedish fintech company iZettle, managing the express-paced growth of his company has been an all-consuming task.
Stockholm-based iZettle was founded in 2010, and pioneered the first payment card chip-reader to connect directly to mobile phones and tablets. The reader allows small businesses to sidestep the expense of till-based systems provided by banks.
iZettle is used by hundreds of thousands of businesses around the world, and recently won fastest growing software company (EMEA) at the Deloitte Fast 500 awards. According to Deloitte, the Scandinavian firm has grown by 30,114% over the last four years.
Roberts acknowledged that iZettle’s rapid growth is challenging: “We’re running in 12 different countries, we have a new customer join the business every minute of the day, so what we have to react to is something that’s not your everyday business scenario”.
Roberts has served two stints as CFO during his time at iZettle, and he talked AccountingWEB through some of the strategies and processes the company has adopted to manage its rapid expansion.
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