The San Francisco-based Fundbox, which frees up cash flow by extending a credit line to small companies against unpaid invoices, named Marten Abrahamsen CFO effective Jan. 3. Abrahamsen joins Fundbox, which extends loans from between $10,000 and $100,000, from The Chernin Group, an investment firm that specializes in tech businesses, among other sectors.Forbes.
The finance chief prepares a company’s financial information to be picked over by analysts and investors and submitted to the U.S. Security and Exchange Commission. CFOs often quarterback the IPO process and play a central role in the accompanying “roadshow,” during which company leaders pitch potential underwriters of the stock market debut.
As for Fundbox, Abrahamsen stopped short of giving a timeline for the IPO, saying it was not imminent and the company hasn’t filed the regulatory paperwork to launch the process. He noted that among his top priorities in his new post included keeping the costs of finding new customers low, providing incentives to existing clients to remain with Fundbox and continuing services like flexible repayment terms. To date, the, has raised $433.5 million in funding and is valued at $750 million.
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