Who’s the CFO?: Investors ask for finance heads in new startups to avoid BharatPe, Zilingo-like mess
Synopsis
Instances of alleged financial irregularities across companies like BharatPe, Zilingo and Trell, among others, have left a bitter taste in the mouths of investors. To play it safe, now early stage venture capital funds are advocating that startups fill in the positions of CFOs early on to avoid potential mishaps and have someone to hold accountable for.
What’s more difficult than raising money for young startups this funding winter? For audio streaming startup Kuku FM and fin-tech firm Credilio along with many other young startups, it has been looking for a chief finance officer(CFO).Governance lapses at companies such as BharatPe, Zilingo and Trell coupled with the investment downturn has driven this search for a bean counter-par-excellence. While it may surprise many, BharatPe which
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