London – CFPro, the London based provider of experienced finance teams for high growth businesses, has opened its first international subsidiary in Lausanne, Switzerland. The firm opened a new regional hub in Cambridge, UK in June 2022, and plans to follow with several more hubs around the UK over the next 12 months.
The company is essentially a ‘Swiss Army Knife’ that high-growth companies can use to tackle a variety of finance, accountancy, and corporate governance challenges at every stage.
The firm’s international expansion follows a sustained period of growth in which its revenue has grown year-on-year for the past three years. Demand for the firm’s services has soared as investment has flooded into the UK’s high growth companies which are often founded by entrepreneurs with little finance and corporate governance experience. The CFPro team is now 38-strong and has recently moved its main UK office to central London from Richmond-on-Thames.
Lausanne has a growing international reputation as a hub for innovative companies, particularly those in fin-tech (information and digital technology), medi-tech including life sciences, pharmaceutical, biotech, and therapeutic sectors – the un-met medical need - plus nano technologies, precision industries, nutrition and agri-tech. The Swiss city has been tipped by experts to become one of five key European tech ecosystems.
Barbara Spurrier, CEO and Founder, says: “I founded CFPro based on my own experience of needing additional support in critical moments as a CFO. Our continued growth reflects the growth in start-ups and scale-ups in the UK over the past decade, who typically focused on the product before finance when it comes to internal investment. We are here to help fill that gap, providing flexible and affordable support as it is needed. With uncertainty weighing on both public and private markets, it is even more important that businesses have a robust finance setup that will withstand investor interrogation.
“Over the years we’ve been right alongside some fantastic businesses as they have scaled, and I’m thrilled that we can now take our unique model of insourced finance and deep operational expertise on corporate governance matters to growth companies in Switzerland.”
CFPro’s team of financial, accountancy, and corporate governance specialists are parachuted in by high growth companies at key growth moments such as preparing for IPO, acquisition or fundraise. Its team is integrated within a company’s finance department and can advise on issues from R&D tax credits and bookkeeping to EIS administration and IT systems. The firm works alongside clients to ensure finance functions are fit for purpose, offering part-time Finance Director services, delivering timely and accurate financial management and reporting, budgeting, and forecasting, as well as shoring up cash flow management and improving IT systems.
Ian Wilson, Director of CFPro’s new Swiss subsidiary, comments: “Switzerland’s environment for business and finance is world-renowned and for good reason. But what is most fascinating is the similarity between the UK and Swiss innovation sectors, the great opportunities that clearly exist there, and which we are in a unique position to fulfil. We think there is huge potential to assist in linking the two.
“We have spent a great deal of time speaking with the Swiss scale-up community and recognise that there is a need for affordable in-house support that help firms become investment ready, whether for Swiss or international investment. We think that drawing on our experience and success working with companies in the UK and combining that with local Swiss expertise will be of enormous value.”
CFPro was founded in 2014 by Barbara following thirty years of practical finance experience both as CFO as also providing support for multiple IPOs and reverse takeovers on the London Stock Exchange’s Main Market and AIM. The firm’s senior team comes from a range of commercial and technical backgrounds and has a wealth of experience working with growth companies across sectors and geographies. Board members include Gary Hanson (ex-BDO partner), Jeremy Millard (ex-Rothschild director) and David Staveley (FTSE restructuring and international growth specialist).
Clients have included drinks maker Fever-Tree, chocolate chain Hotel Chocolat, robotics and software firm Blue Prism, app developer Concepta and sales intelligence company Cognism.
