AppHub: finance function for six acquisitions and a USD 60M growth round

At a glance

• Client: AppHub, US-based acquisition platform for Shopify apps, backed by Silversmith Capital Partners
• Milestones: six acquisitions completed across the US, Europe and the Middle East, and a USD 60M growth investment announced in April 2022
• Our role: fractional CFO and first finance hire, running finance from A to Z
• Service: Fractional CFO

Situation

AppHub was building an eCommerce software platform by acquiring founder-led app companies. It had no finance team and needed a CFO from the first deal: someone to run finance, close acquisitions on the buy side and prepare the company for a private equity investor.

What we did

• Finance from A to Z: as the first finance hire we ran the whole finance function, working with an outsourced tax and accounting firm
• Acquisitions: we led the finance side of six acquisitions on the buy side, across the US, Europe and the Middle East
• Fundraising: USD 60M raised in a growth investment led by Silversmith Capital Partners

Outcome

In April 2022 AppHub announced the USD 60M growth investment led by Silversmith Capital Partners. At that date the platform had completed six acquisitions and offered more than 20 apps to more than 100,000 merchants.

Source: Business Wire, 21 April 2022.