HMN Capital
Financial Controller (SaaS), number one in finance with a path to FD
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Financial Controller (SaaS), number one in finance with a path to FD
London. Hybrid, three days a week. Permanent. Reports to the CEO, with a functional line to the fractional CFO. Base £100,000 to £130,000 plus benefits.
This is the senior permanent finance hire in the business. You report to the CEO, take a functional line from an experienced fractional CFO, and own the finance engine day to day. The client has been direct about the trajectory: deliver across the first twelve months and this becomes the Finance Director seat.
There is no finance team under you yet, so the first phase is a build. You will be in Xero yourself, running the close rather than reviewing someone else's, and putting process where very little exists today. You then grow the function and the team around what you have built. Anyone hoping to inherit a working finance function and manage it will find the first six months frustrating. This suits the person who would rather construct one.
Around 90% of revenue is recurring subscription income, gross revenue retention sits at roughly 94%, and net revenue retention runs above 110%. The client is a B2B subscription software business in London serving a large consumer-facing market, independent from a larger corporate group since a 2023 carve-out, and integrating a complementary software acquisition made in late 2025. Reporting is being raised to investor-grade as the business scales and prepares for future corporate activity, so exposure to a transaction from this seat is a real addition to a CV.
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What you own
- Revenue recognition and deferred revenue, with a standing reconciliation running from contracted ARR through billed MRR to statutory revenue.
- A single governed ARR number. You will work with RevOps through the migration of customer and revenue data into HubSpot, and finance ends up owning one reconciled ARR figure on agreed definitions.
- True gross margin: allocating cost of revenue properly across recurring and non-recurring work, and standing up product-level margin reporting.
- The monthly board pack: three-statement accounts, actuals against budget and forecast, and the KPIs the board follows (ARR bridge, retention, revenue by product and channel, EBITDA, cash runway).
- The month-end close and management accounts for both entities, then building and running a group consolidation on one mapped chart of accounts with intercompany and eliminations. The two entities sit on separate Xero instances today.
- The driver-based operating model, with monthly actualisation, rolling reforecast and scenario work.
- Cash: short-term forecasting, downside scenarios and working capital in a business investing ahead of profit.
- A balance sheet and supporting schedules that will withstand external scrutiny, documented policies including R&D treatment across the group, and the compliance calendar with external advisers covering statutory accounts, VAT, payroll, R&D claims and corporation tax.
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What you need to have done already
- SaaS or subscription software experience is a requirement for this role, not a preference.
- Owned revenue recognition and deferred revenue inside a SaaS or subscription software business, and built or run the reconciliation from contracted ARR through to statutory revenue.
- Built or owned an ARR bridge, and calculated gross and net revenue retention yourself rather than receiving them from someone else.
- Worked inside a subscription billing stack (Stripe, Chargebee, Zuora, Recurly, Paddle, Maxio or similar), pulling your own data from it and from the CRM.
- Handled high-volume, low-ACV billing. Transaction count matters here far more than the size of any individual contract.
- Run a multi-entity consolidation with intercompany and eliminations, ideally including the integration of an acquired business.
- Operated in a smaller business rather than at £200m-plus scale.
- Qualified ACA, ACCA or CIMA, roughly two or more years post-qualification, hands-on in Xero or a comparable ledger, and motivated to build towards a number one finance role. Some exposure to transactions, fundraising or external due diligence is useful without being essential. An interest in automating finance work, rather than adding manual steps to it, is welcome.
The client is named to candidates under confidentiality once we have spoken. This search is handled exclusively by HMN Capital.
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