Interim CFO
When cash discipline, board credibility, or a fundraising window is on the line, you need a CFO in the seat — not a financial consultant arriving with a deck six weeks from now.
Interim Chief Financial Officer mandates for European companies in transition: DACH, Poland and wider Europe. Also see Strategy & Leadership and People & Crisis.
What an interim CFO does
An interim CFO sits in the seat and owns the finance function — not as an adviser, but as the accountable executive. The work is operational from day one:
- Cash and liquidity control. 13-week rolling cash forecast installed in the first week. Covenant headroom mapped, payment priorities set, any immediate liquidity risk surfaced to the board before week two.
- Fundraising and refinancing. Investor materials, data-room preparation, lender negotiations, term-sheet review. We've been on both sides of the table — PE-side and company-side — so we know what a diligence process actually needs versus what it asks for.
- Board and investor reporting. Monthly board pack rebuilt around decisions, not data dumps. Variance analysis that explains causality, not just numbers. Investor KPIs that reflect what the business actually controls.
- Financial controls and audit readiness. Close cycle tightened, chart of accounts rationalised, statutory filing obligations managed. If the last audit threw up material weaknesses, we clear the action plan.
- Financial turnaround. Working capital released, cost base cut with clinical discipline, margin recovery sequenced so the business stays operational while it heals.
- Post-deal finance integration. New ownership, new reporting requirements. We rebuild the finance function to serve the acquirer's operating model, not the previous one.
When to bring in an interim CFO
- The CFO seat is vacant — suddenly or by design — and the next board meeting is in three weeks.
- A fundraising or refinancing process is open and the finance function isn't investor-ready.
- Cash is tightening and the board doesn't have daily visibility.
- A PE fund or acquirer needs an operator inside a portfolio company before or after a transaction.
- The existing CFO is capable long-term but needs a senior partner through a specific crisis or integration sprint.
- Audit findings or regulatory concerns require someone senior enough to own the remediation and face the regulators.
How we work
- Week one is diagnostic, not decorative. We map the cash position, the reporting gaps, the team capability and the board's open questions — and give you a written brief by Friday. No 90-day assessment.
- Day rate, capped month, written scope. You pay for days worked against an agreed scope. We don't charge a retainer for calendar months where the work doesn't warrant it.
- We run recruiting in parallel. The permanent CFO search starts when we start, not when we leave. We design the role profile, brief the search firm, and sit in on finalist interviews.
- The handover is a product. The outgoing pack includes: the cash model, the reporting framework, the lender/investor relationship map, the open risks, and everything the permanent CFO needs to be dangerous in their first week.
Typical engagement shape
- Duration
- 3–6 months, ending when the permanent CFO is seated
- Presence
- Full-week first month, then 3–4 days/week depending on deal intensity
- Starts with
- A two-week scoped mandate letter — continuation is a mutual decision
- Deliverable at exit
- Permanent CFO on board + written handover pack including cash model, reporting rebuild, and open risk register
Where we've run this before
PE-side financial and operational due diligence across the Abris Capital portfolio, including WDX (industrial distribution) and Versabox (autonomous mobile robotics) — working directly with portfolio management on financial controls, reporting standardisation, and deal-readiness. Financing diversification work at Primotly as the company scaled beyond its original banking relationship. See engagements with real numbers →
Related services: Strategy & Leadership · People & Crisis · Interim Management (all roles)
Common questions
What does an interim CFO do?
An interim CFO holds the Chief Financial Officer seat on a fixed-term basis — typically three to six months — and runs the finance function as the accountable executive. That means owning cash management, board and investor reporting, audit compliance, fundraising support, and financial controls. Unlike a finance consultant who delivers a report, the interim CFO makes the daily calls, signs off the reporting, and represents the company in front of investors and lenders.
When should you hire an interim CFO?
The clearest trigger is a vacant CFO seat with a board meeting, audit, or investor process imminent. Other triggers: a fundraising round where the finance function isn't investor-grade yet; a cash crisis that needs daily oversight; a post-acquisition integration where the new owner needs finance rebuilt to its standards; or a regulatory or audit finding that requires someone senior enough to own the remediation. If the cost of the seat staying empty — in board confidence, deal momentum, or cash risk — exceeds a day rate, it's time.
How much does an interim CFO cost?
Interim CFO day rates in Europe vary by seniority, sector complexity, and mandate intensity. We work on a day rate with a capped month and a written scope — not an open retainer. You pay for days worked against a defined brief. For mandates involving a fundraising process or post-deal integration, the structure may include a defined milestone phase. We'll give you a clear number against your specific situation on a first call.
Interim CFO vs. fractional CFO — what's the difference?
A fractional CFO works part-time across several companies simultaneously — typically one or two days a week — and is best suited to stable businesses that need ongoing financial oversight without a full-time hire. An interim CFO steps into the seat full-time (or near full-time) for a defined period to handle a specific transition, turnaround, deal, or gap. When the mandate requires full presence and full accountability — board credibility, a live fundraising process, a cash crisis — you need an interim, not a fractional.
How fast can an interim CFO start?
Days, not weeks. We can typically start a mandate within a week of agreement, and by the end of week one you have a written diagnostic: cash position, reporting gaps, team capability, and the three things that need to be fixed in the next 30 days. For mandates with a specific deal or board deadline, we work backward from that date to set a start that keeps the process intact.