CFO search for Volta Trucks

Harmonic were briefed with finding a tech focused CFO for an immediate start ahead of a huge period of fundraising for Volta Trucks.

The Client

Volta Trucks is a global automotive startup specialising in manufacturing electric trucks designed specifically for urban delivery, prioritising driver safety as well as the well-being of pedestrians and cyclists. The company has successfully secured substantial funding through multiple rounds of investment with investment banks, culminating in a valuation exceeding €500 million.

The Role

Volta needed a CFO that was able to come in and raise capital. They had an aggressive fundraising strategy to facilitate R&D as well as the setup of a manufacturing facility. To date, the company has raised circa €400m, with €375m of this being raised by the CFO that we placed.

Harmonic were looking for an individual who possessed not only a strong fundraising acumen but also the agility to navigate the rapid growth and team building demands inherent to a startup environment. Striking the perfect balance, we were looking for a candidate with a background in corporate finance, such as Investment Banking, coupled with a proven track record of raising multiple rounds of funding. Moreover, this candidate needed to demonstrate credibility in the presence of investors while aligning with the startup's culture and unique requirements.

What we did

Over the course of a focused three-week search, our priority was to identify candidates who could start immediately, given the urgency of the situation. We dedicated resources to tap into our extensive network, engage in targeted headhunting, and leverage our brand to entice qualified individuals who were readily available.

The outcome of these efforts was the swift generation of a shortlist featuring seven candidates within just one week.

The outcome

The CFO we placed at Volta Trucks has successfully secured over €375 million in funding and oversaw the expansion of the business from approximately 50 to nearly 800 employees spanning locations in Sweden, London, Paris, and Eastern Europe. The company is now ready for production, with their vehicles soon to hit the roads.

Furthermore, our continued partnership with Volta Trucks has resulted in the successful placement of 12 individuals into the CFO's team. This includes a highly capable senior executive in Finance, a Head of Commercial Finance, a Financial Controller, a Treasury Manager, and the establishment of a complete FP&A/Finance Business Partnering team.

The Results

Turnaround from brief to shortlist
1 week
Candidates shortlisted
Employees globally

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