Recruiting the right finance team is one of the most important challenges for startups CFOs as the business grows. We’ve supported founders and leadership teams through this transition many times, helping them make their first full-time finance hires and build functions that can scale with the business.

In the third session of our webinar series with EmergeOne, Aarish Shah, Joe Newbold and Alex Laurent explored how finance hiring should evolve as companies scale, from establishing operational foundations to introducing strategic leadership, and why recruiting at the right time can play a critical role in enabling growth, improving decision-making and protecting long-term value.

Watch the conversation (15 mins) here:

Key Takeaways:

1. Finance hiring should evolve in line with company stage and complexity

One of the most consistent themes was that finance teams must scale progressively, rather than being built too early or too late.

“At the very early stages of pre-seed… you really don’t need anyone in finance… but as you start scaling… getting someone, a decent bookkeeper, maybe a management accountant or a finance manager level person is really valuable… and by the time we kind of tap out… post Series A, B, by that stage you should really be looking at a more full-time head in the CFO role.”

• At pre-seed and very early stage, companies typically only require external accounting and bookkeeping support.
• Post-seed, the priority shifts to establishing strong financial hygiene through hires such as a bookkeeper, management accountant or finance manager.
• By Series A–B, businesses should be moving towards a full-time CFO to support strategic decision-making and scaling.
• There is no single template hiring depends on transaction complexity, growth trajectory and funding profile.

2. Strong financial foundations are critical before strategic finance can add value

A recurring issue in scaling companies is weak financial infrastructure.

“When we come in as fractional CFOs, the biggest problem that we initially face is if the basic hygiene is not in place…”

• Fractional CFOs often encounter businesses where basic processes and controls are not properly established.
• Without accurate reporting, forecasting and systems, strategic finance cannot function effectively.
• Early operational finance hires provide the foundation that enables later strategic hires to succeed.

3. Under-investing in finance is a common but costly mistake

The Finance team is frequently under-resourced relative to its impact.

“Finance is often the most under-resourced and overstretched department of any business… but the reality is like a really great finance function can have massive impact.”

• Founders often prioritise engineering and product hires over finance.
• However, a strong finance function directly supports revenue quality, margin optimisation, cost control and forecasting.
• Weak finance hires can have disproportionate negative impact across the organisation.

4. Hiring ahead of growth can deliver significant long-term value

Several participants emphasised the importance of hiring for future needs, not just current workload.

“My advice in most of these circumstances… is to really over hire if you can… we actually went for a head of finance in the end that proved massive dividends in a company that was scaling quite quickly.”

• Recruiting a more senior finance leader than initially planned can support rapid scaling and prevent future capability gaps.
• The wrong hire can slow growth, while the right hire accelerates scalability and operational maturity.
• Businesses should hire at the highest level they can realistically afford.

5. Attitude, curiosity and growth mindset are as important as technical experience

Technical credentials alone are not sufficient in startup and scaleup environments.

“Always hire for attitude as much as aptitude… you want to have people who are able to look around the corner and actually be proactive about how they approach finance.”

• High-performing finance hires demonstrate initiative, curiosity and problem-solving ability.
• Finance leaders must proactively improve processes, forecasting and operational efficiency.
• Hiring solely based on qualifications or large-company experience may not translate well to high-growth environments.

6. Hiring timing should be driven by business value and workload, not job titles

Hiring decisions should reflect economic efficiency and business needs.

“If I’m doing things that should be done by somebody that’s cheaper… then it’s absolutely the right time to be looking at other resource… it’s really about thinking about the business more so than the role.”

• When senior finance leaders are performing routine operational tasks, it signals the need to hire more junior support.
• Finance hires are typically triggered by increasing revenue scale, transaction volume or organisational complexity.
• Cash availability and balance sheet strength are practical constraints on hiring timing.

7. Fractional finance is effective for strategic roles but less suitable for operational finance

Fractional finance can be highly effective at certain stages.

“For the most part, finance operations you want them to be permanent. If it’s strategic, you can get away with fractional, certainly at the CFO level for a while.”

• Fractional CFOs are particularly valuable up to Series B, when strategic guidance is needed but not full-time capacity.
• Operational finance roles are better suited to permanent hires due to their day-to-day operational nature.
• Permanent hires also strengthen continuity, control and organisational integration.

8. Hiring the wrong person is more expensive than delaying the hire

Participants stressed the importance of hiring quality over speed.

“Hire slow, fire fast… it will cost you a hell of a lot less to take an additional one, two, three months to get the right person than to get the wrong person and have to unravel that.”

• Taking longer to hire the right person is less costly than hiring incorrectly.
• Poor hires create operational inefficiencies, process failures and strategic risk.
• Businesses should be prepared to replace unsuitable hires quickly to minimise long-term impact.

About the panel

Alex Laurent leads the UK and U.S Technology Finance division and has 10 years’ experience helping investor-backed Tech businesses hire leaders and build teams that drive growth. He combines a deep knowledge of the finance needs within the Startup ecosystem with a commitment to enabling his clients to achieve their hiring goals.

Aarish Shah is an experienced CFO, thought leader and founder of EmergeOne, working closely with founders, CFOs and investors across high-growth and investor-backed businesses. With deep experience navigating the operational and strategic realities of scaling finance functions, Aarish brings a pragmatic perspective on where AI genuinely adds value — and where it currently falls short.

Joe Newbold is an experienced CFO and finance operator who has spent years inside fast-growth businesses, building and refining finance, FP&A and operational workflows. Known for his hands-on approach, Joe has actively tested many of the tools currently being promoted across the AI landscape, giving him a grounded view on what works in practice, what requires caution, and what remains aspirational.

We partnered with EmergeOne to host the Scaleup CFO Webinar in December 2025. Other areas explored during our discussion included: AI for Finance and Forecasting, Burn Discipline & Financial Planning