COMMERCIAL VC BACKED – IT SERVICES (CIRCULAR ECONOMY)

Financial Foundation for Venture-Backed Growth

The Challenge

Reconome Technologies secured its first venture capital investment – a milestone that brought both opportunity and obligation. The business needed to meet new financial reporting requirements to stakeholders, while maintaining focus on growth acceleration.

With leadership already stretched, the business needed fractional CFO support that could flex with business demand: available precisely when required, addressing the immediate gaps to ensure investor confidence through reporting and forecasting. And doing so without the overhead of a full-time hire.

The priority was to build trust with the new investors, establish effective board governance mechanisms and direct investment for maximum returns.

The Approach

Glenn joined as interim CFO on a part-time basis, providing:

Financial Reporting & Modelling

  • Robust financial model including 3 years of historical performance and 5 years of forecast projections
  • Supporting flexible modelling and demand scenarios – to stress test key assumptions and model the critical cash runway
  • Reporting aligned with financial systems to reduce friction and save time – freeing up leadership time to focus on growth initiatives
  • A consistent presentation aligned to the operation – telling the story with clarity

Forecasting & Planning

  • Dynamic model for monthly forecasting, budgeting and long-range planning – delivering a shared, reliable view of where the business is heading
  • Alternative cash flow reporting formats informing financial and non-financial stakeholders – a key input to investment decisions
  • Forecasts ready for board reporting and briefing stakeholders – building investor confidence through credible numbers and treasury management

Beyond Finance

  • Corporate governance guidance provided to establish board – supporting the regular cadence and oversight required at this early stage
  • Contribution to growth strategy development – bringing commercial rigour to investment decisions
  • Operational process mapping and process improvement – removing points of friction
  • Business case template for investment evaluation – a consistent framework to assess future spend and hiring decisions
  • Network introductions to high-calibre HR and Marketing advisors – extending the business’s capability through trusted relationships beyond finance

Client Comments

“Glenn’s expertise extends far beyond the CFO remit, bringing the strategic insight of both a CEO and CFO as well as an experienced board member.”

Nick Rawkins, CEO, Reconome Technologies

Key outcomes:

  • Board-ready financial governance from day one
  • Month-end reporting time dramatically reduced
  • Financial model that delivers internal and external reporting and business planning
  • VC stakeholder confidence built through professional financial communication
  • Network expansion following trusted-advisor introductions
  • Leadership team freed up to focus on growth execution

Why It Worked

The engagement worked because Glenn understood that fractional CFO isn’t about part-time presence – it’s about right-sized expertise. He seamlessly integrated with the team and quickly established trust at all levels in the organisation, while delivering institutional-grade financial infrastructure. He established investor confidence without creating dependency.

Reflecting on the Engagement

“It was great to work with Nick and his team at an early stage of the investment cycle.

The reporting and forecasting demands were many and varied, given a relatively complex business model. I enjoyed getting to grips with the complexity and liaising with the team to deliver timely financial reporting and plans.

Bringing my board expertise and introductions from my network was rewarding and well-received.

And I loved the circular economy aspects of the business – profit with a purpose writ-large!”

Glenn Hayward, Co-Founder Milestones MK

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