Helping Tailify scale a global business and streamline its financial operations
Helping Tailify scale a global business and streamline its financial operations
About Tailify
Founded in Stockholm in 2014, Tailify is a full-service influencer marketing agency and platform that helps some of the world’s most ambitious brands craft effective influencer marketing strategies and drive impactful results. Since relocating its headquarters from Stockholm to London, the company has designed and managed over 400 influencer growth programmes for brands like Uber, LG, IKEA and agencies like Group M and PHD.
Regardless of where Tailify’s headquarters have been based, it has always viewed itself as a global business, servicing clients across the world. While many businesses found themselves struggling to keep their business afloat and retain customers throughout the 2020 and 2021 COVID-19 pandemic, Tailify found itself in a very good position – experiencing strong revenue growth and raising £3.7m GBP in Series A funding in March 2021.
The challenge
As Tailify continues to experience steady growth and sign on major brands, the company’s executive team quickly realised it had reached a mission-critical stage of growth. In order to free up the leadership’s time to focus on building and scaling its business following its Series A funding round - Tailify looked to engage a business advisory firm that could proactively identify barriers to growth within its finance function and operations. The leadership team wanted a firm that could offer a one-stop-shop and full range of accounting, tax and advisory services.
Following an introduction from a former finance manager, they brought on BDO’s Business Services & Outsourcing team to support with the following:
- Payroll management
- Year-end accounting
- Corporate taxes (preparing and filing), including advice on:
- VAT around place of supply with international clients
- Employee mobility
- Share option valuations and implementation of an EMI scheme
Our approach
Tailify identified its business goals and growth ambitions, which include:
- Continued revenue growth year-on-year
- Expanding into international markets by 2023
To scale its business and grow consistently year-over-year, Tailify needed to refocus its time and attention away from operations and into creating an effective strategy to grow the business long-term. To do so, it needed a strategic advisory partner who understood the intricacies of growing a business like Tailify.
Why Tailify chose BDO
Tailify chose to work with BDO for the following reasons:
- BDO are a global advisory firm with offices all over the world. With Tailify looking to expand internationally, BDO was a natural fit.
- BDO has a full suite of services in-house and Tailify were looking to consolidate its operations with one advisory firm.
- BDO proved they could simplify processes and alleviate Tailify’s growth challenges with a simple brief, giving the team time and space to focus on long-term growth and client acquisition/retention.
"BDO is a smart, supportive and experienced advisory firm that we have come to rely on to keep our business operations running smoothly and effectively. With such extensive growth plans, we needed an advisor who could scale with us, streamline our operations and, ultimately, give us the bandwidth we needed to take a more strategic approach to building and growing our business long-term."
Fredrik Segerby, co-founder, Tailify
The Results
| Result 1 | Result 2 | Result 3 |
|---|---|---|
| Increase C-suite level bandwidth | Provided a framework and ‘soft landing’ for international expansion |
A joined-up approach for Outsourcing, Tax and Advisory services |
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