Head of Finance
at Sweatcoin in London
The Head of Finance will be one of the key early business hires for Sweatcoin. The main focus of the successful candidate will be to tackle the core financial, strategic, and operational challenges a rapidly growing technology start-up is facing, and to provide analytically sound insights & recommendations on process improvement across the board. This hire will be responsible for all core finance functions within the company, as well as for providing on-going analytical support and insights into all operational aspects of the business.
The Founders need a business partner capable of owning the following areas:
• Development of robust, efficient and automated core accounting and finance processes, including preparation of management accounts including P&L, cash flow and balance sheet on a monthly basis, as well as preparation of financial and business forecasts
• Financial and business analytics including near real-time reporting of key performance indicators for the business and key metrics of operational success
• Day-to-day detailed financial management, reporting, and administration, including A/R & A/P, payroll and other HR-related processes, and cash management
• In cooperation with Founders, oversight of all the legal activities, both in-house and outsourced; identification, selection and liaison with external legal providers
• Administration of all invoicing, payments and bank accounts, accounts payable and accounts receivable in close cooperation with the Founders
• Maintaining of financial, business and data track record (e.g. legal trail of funding rounds, Board meetings, etc.)
• Full spectrum of administration and office management responsibilities, including assets tracking, real estate, lease, capital expenditure and other key contracts
• Support of Founders in managing and liaising with the investor, legal and broader business community
• Accounting certifications (ACCA, CIMA, etc.)
• At least 1 year of experience in a mid-level managerial role (at least 2 direct reports), ideally within a small (10-50 staff), fast-paced and fast-growing organisation. Start-up experience will be an advantage
• Proven experience of preparing and managing preparation of key financial statements and budgets
• Experience drafting and preparing detailed analytics reports and presentations (investors, internal stakeholders, etc.)
• Previous experience of working in cooperation with the legal function (in-house and external) will be an advantage
Personality & Attitude
• Commercially astute and business focused
• Aspiring to potentially grow beyond the financial function
• Strategic mindset with a keen appetite to tackle a broad array of business problems
• Looking for a roller-coaster ride of a fast-growth technology start-up at the expense of a predictable, stable and boring life of a well-established business
• Well-organised, attention to detail and a healthy perfectionism (but not too much!)
• Good sense of humour!
• Base salary
• Semi-annual performance bonus
• Eligibility to stock options after 6 months of employment
Sweatcoin is a digital currency backed by physical activity in its simplest form — steps. Steps are verified to avoid cheating and converted into Sweatcoins by a proprietary algorithm and a mobile app. Sweatcoins can be spent in Sweatcoin Marketplace on products provided by vendors. As of January 2018, there were more than 300 vendors in the UK and the US accepting Sweatcoin as a means in payment.
The vision for Sweatcoin is to become a global, nation-state independent cryptocurrency to facilitate value exchange between users (including user-to-user) and vendors.
As of January 2018, Sweatcoin has acquired than 9+m registered users with zero direct marketing spend, 4+m weekly active users and 900+k sweatcoin transactions processed monthly. The business is revenue generating with a healthy upward trend. It’s been top of the US and UK AppStore In the Health & Wellness category since September 2017, ahead of Nike, Fitbit, Strava and many more. But most importantly, it delivers on its mission to make people more physically active: even after 6 months from install it drives a sustainable + 9-20% uplift in physical activity.
SweatCo Ltd, the company behind the Sweatcoin currency, has successfully raised almost £5m in venture capital funding. The most recent £4.2m round, closed in December 2017, has been led by Goodwater Capital, a consumer technology focused Silicon Valley VC firm. Greylock Partners, Rubylight, Seedcamp, Justin Kan, founder of Twitch and Justin.tv and Rain Lohmus, founder of LHV Bank, also participated in the round.
Sweatcoin (https://sweatco.in) has been covered by The New York Times, CBS, Forbes, Fortune, Reuters, Huffington Post, Daily Mail and many others.