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Startup lessons in the failure of Bench Accounting

CFO Share

I do not know the details of Bench’s financial problems, but I have seen other “successful” VC startups fail and fold in 2024. That’s when startups struggle to secure the next round of funding. It’s like musical chairs except the number of chairs available is based on the Federal Funds Rate.

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Startup funding winter to end in 6-12 months as the number of registered startups increases: Redseer

CFO News

Redseer reports a 9X growth in registered startups in the Indian startup ecosystem over the past four years whereas funding spring is expected to return in the next 6-12 months.

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Africa: Remittance Startup Targets Fees

Global Finance

Benjamin Fernandes’ goal for the fintech startup he launched in 2018, NALA, was to speed up money transfers within his native Tanzania. In July, despite a depressed fintech market, NALA’s 100-person startup raised $40 million (with a valuation of more than $200 million).

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The Fractional CFO

Global Finance

Growing numbers of experienced chief financial officers are abandoning the corporate grind to take freelance roles for multiple clients—whether in parallel or on a serial basis. On the buy side, there are two groups: SMEs and startups combine for one; then there are the corporates. But they can’t afford to hire a top-notch CFO.

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Chinese Investors’ $1.4B For Indian Startups Prompts Questions

PYMNTS

Venture capitalists in China are putting record levels of money into tech startups in India, raising questions about the ability of the geopolitical rivals to work cooperatively, the Financial Times (FT) reported on Monday (Feb. Indian startups can also be stigmatized for taking funds from Chinese venture capitalists.

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Evolution of Startup CFO: 5 points to consider before building finance function

CFO News

In order to understand the need for startups to hire a CFO who calls spade a spade, one must look beyond numbers. The author Amit Kulkarni, the Director Finance of an early stage venture fund, Fireside Ventures explores the imperatives of building a finance team in a startup and how founders should look at the function in the making.

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Pool of ‘unemployed CXOs’ grows as old firms refuse to match startup salaries

CFO News

“There are a large number of unemployed CXOs in the startup ecosystem – many of them are currently jobless, because neither are they willing to take pay cuts nor are they able to land a job in a large company that find them overpriced,” said Mayank Kumar, cofounder of edtech major upGrad.

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