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Helen Cahill and her journey in co-founding Financefair

Helen Cahill – Financefair is headquartered at NexusUCD in Dublin, Ireland

What inspired you to co-found Financefair, and what was the initial vision for the company?

As founders, we have always focused on solving market failures. The inspiration founding for Financefair came from our deep understanding of the challenges faced by SMEs, post the global financial crisis, in accessing timely and adequate funding to scale their operations. Traditional financial institutions often overlook these businesses due to their perceived risk and lack of collateral.

Our vision at Financefair was to create a platform that leverages technology and data-driven insights to bridge this funding gap, providing these businesses with the capital they need to grow through receivables finance. We wanted to offer a flexible, transparent, and efficient alternative to traditional financing methods, empowering SMEs to unlock their growth potential.

What challenges did you face in the early stages of building Financefair, and how did you overcome them?

One of the main challenges we faced as a new alternative funder was educating the market, building trust, and raising awareness about our value proposition and business model, which enabled SMEs to leverage their future receivables to access growth capital. We overcame this by focusing initially on the referring partner channel—financial and legal advisors, VCs, and private equity firms, all of whom had existing trusted relationships with scaling businesses.

Additionally, establishing credibility in a highly regulated and competitive industry required us to forge strong partnerships with institutional debt funders, being able to convince them of our ability to underwrite the risk associated with these SMEs and monitor risk after that to minimise defaults.

Financefair focuses on providing growth funding for scaling businesses. How do you identify businesses with high growth potential, and what are the key factors you consider when funding?

When identifying our addressable market and the sectors that are growing, we focus on:

Market Opportunity – the unique value proposition, market size and growth potential of the industry. Revenue Growth Trends – consistent revenue growth over time, benchmarked against industry. Scalability—Businesses with low operational costs, high-profit margins, and the ability to expand without a significant increase in expenses are more likely to achieve high growth. Financial Health – past and present, including cash flow, profitability, and debt levels. Strong internal financial control – dedicated resources for managing cash flow and the company’s financial health. Customer Acquisition and Retention: Look at customer acquisition cost (CAC), lifetime value (LTV), and churn rate. A high LTV to CAC ratio indicates that the business can profitably acquire and retain customers. Management Team – A strong, experienced management team with a proven track record in the industry and a clear vision for growth.

Key factors we consider when funding:

Creditworthiness and Risk Assessment

Quality of Receivables—For receivables finance, the quality of the business’s receivables is paramount. Consider the creditworthiness of their customers, payment terms, and historical collection rates. Purpose of Funding – understand the specific purpose of the funding and ensure that it aligns with the business strategy, i.e. expanding operations, entering new markets, or product development. Collateral and Security—Determine if the business can provide collateral or security. The receivables themselves often serve as collateral. Industry and Market Conditions—Consider the broader industry and market conditions. Be aware of any regulatory or economic challenges that could impact the business’s growth trajectory. Flexibility and Adaptability – flexibility and adaptability in response to market changes. The ability to pivot and innovate is crucial for long-term success.

Helen Cahill, CEO and co-Founder, Financefair
Helen Cahill, CEO and co-Founder, Financefair

How has the market for growth funding evolved over the past few years, and how has Financefair adapted to these changes?

The market for growth funding has evolved significantly, with increasing demand from SMEs for more flexible and accessible funding options. The advancement of technology integrations and access to accounting, billing, and open banking data has democratised finance, enabling innovative solutions like our revenue-based Finance and Line of Credit to gain traction.

What leadership lessons have you learned throughout your journey, and how do they influence the way you lead Financefair today?

An important lesson when scaling our business type is to avoid concentration risk. Building a granular business where risk and revenue are well spread throughout the portfolio is better. Building a strong, high-performing, diverse team who can drive innovation and overcome challenges is paramount in today’s environment.

In your opinion, how important is adaptability for a leader in the financial industry, especially in a rapidly changing market?

One key lesson is the importance of resilience and adaptability. The fintech landscape is fast-paced, and the broader economic landscape is constantly evolving, requiring us all to be open to change and ready to pivot when necessary. The COVID-19 pandemic is a case in point where we pivoted into eCommerce, PPE (personal protective equipment), and social housing funding. Being adaptable also means being willing to experiment, learn from failures, and iteratively improve.

Looking ahead, what are your long-term goals for Financefair, and how do you see the company contributing to the broader financial ecosystem?

Our long-term goal is to become the leading provider of growth funding solutions for scaling SMEs, not just through receivables finance but by offering a comprehensive suite of financial solutions that cater to all stages of business growth. We envision Financefair as a key player in the broader financial ecosystem, facilitating the flow of capital to SMEs and contributing to economic growth.

What personal qualities or habits do you attribute to your success, both as an entrepreneur and as a leader?

Perseverance and a willingness to embrace challenges have been crucial to my success. I believe in setting clear goals, maintaining a strong work ethic, and continuously learning. I attach huge importance to people, their performance and overall happiness. Staying curious – reading and listening to Fintech podcasts have opened my mind to new ideas that have helped me innovate and stay ahead in a competitive industry.

Finally, what does success look like for you, both for Financefair and yourself personally?

Success for Financefair means being recognised as a trusted partner for scaling SMEs, enabling them to thrive and achieve their growth ambitions. It’s about making a meaningful impact on the businesses we serve and the economy as a whole. Personally, success is about creating a legacy of positive change, fostering a culture of innovation, and helping to build an inclusive financial ecosystem that empowers all entrepreneurs. It’s also about personal growth – continuously evolving as a leader.

Andriani has been working in Publishing Industry since 2010. She has worked in major Publishing Houses in UK and Greece, such as Cambridge University Press and ProQuest. She gained experience in different departments in Publishing, including editing, sales, marketing, research and book launch (event planning). She started as Social Media Manager in 4i magazine, but very quickly became the Editor in Chief. At the moment, she lives in Greece, where she is mentoring women with job and education matters; and she is the mother of 3 boys.