By Rich Bond
Solve Advisors, an international fintech company serving institutional investors with market pricing in fixed income markets, recently raised $80 million. The investment from Charlesbank Capital Partners will be used for product innovation, strategic acquisitions and geographic expansion, according to the company’s February 8th press release.
The announcement caught my eye, as the CFO, Joe Plastina, is a friend and a client.
Joe joined Solve two years ago, replacing a fractional CFO because the company had expanded and become more complex, requiring the knowledge and skills of a full-time CFO. Joe hired an accounting manager through me to set up proper deferred revenue accounting procedures.
Too often, I see rapidly growing companies investing much more heavily in sales, marketing, and product development, but minimizing the resources for finance. Many have done so at their peril. Solve was smart enough to avoid this mistake. Investing in finance paid major dividends for them.
Congratulations again to the entire management team at Solve Advisors.
If you are working in a rapidly growing company, do you think finance is getting the resources it needs/deserves? Shoot me a message at Richard.Bond@bondandcompany.com.
