Baïa Food is a Spanish functional nutrition company that develops natural products backed by science and based on ethical, sustainable sourcing. Its growth has been strongly supported by its direct-to-consumer e-commerce channel, combining brand, physical product, community and recurring demand.
| Startup | Baïa Food |
| Sector | eCommerce · Foodtech · Functional nutrition |
| Founded | Spain |
| Stage | Series A · majority acquisition |
| TSCFO services | External CFO · CDTI funding |
| Main challenge | Building a solid financial culture to scale a physical product business |
| Solution | Reporting · gross margin · business plan · audits · funding · financial control |
| Key result | Majority acquisition by Seaya Andromeda |
— 01 · STARTING POINT
Building a financial system that could scale
The Startup CFO started working with Baïa Food in 2020, when the company was generating less than €50,000 in monthly revenue and was building the foundations for growth.
From the beginning, the challenge was not just reporting. It was about creating a financial culture that could help organize processes, improve business visibility and support a long-term strategy.
In a physical product company, with inventory, logistics, e-commerce and new product lines, financial control was essential to grow without losing clarity on margins, cash and financing needs.
— 02 · WHAT WE DID
Financial control as a growth driver
Throughout the collaboration, The Startup CFO supported Baïa Food as a strategic finance partner, helping build processes, reporting and planning tools adapted to the company’s reality.
We worked alongside the founding team on the business plan, key metric tracking and the creation of financial discipline that could scale with the business. The control of gross margin was especially relevant, as it is a critical KPI in a model with physical product, inventory and logistics.
We also supported different funding paths, including convertible notes, public grants, CDTI, regional support, bank lines, loans, credit lines and confirming with institutions such as Sabadell and CaixaBank.
Reporting and processes
Implementation of monthly closings, invoice control, coordination with external advisors and recurring reporting to improve business visibility.
Margin and planning
Tracking of gross margin, forecasts, business plan and key metrics to align growth, inventory and cash needs.
Funding and audits
Support in public and bank financing, audit preparation and development of reliable financial information for third parties.
— 03 · CORPORATE TRANSACTION
A new stage with Seaya Andromeda
Over the years, Baïa Food consolidated a more mature financial base, with more structured processes, more transparent reporting and a clear view of its main growth drivers.
When the company began conversations with Seaya, that preparation was key. The financial systems were clean, structured and ready to respond to the requirements of a due diligence process.
The transaction culminated in a majority acquisition by Seaya Andromeda, a milestone that allowed Baïa Food to enter a new stage of growth, international expansion and entry into new channels such as pharmacies and health stores.
— 04 · RESULTS
A financial culture ready to scale
Seaya
Majority acquisition by Seaya Andromeda
Margin
Financial control over product, inventory and logistics
Funding
Support in CDTI, bank lines, notes and grants
The Baïa Food case shows that financial order can be a competitive advantage, especially in physical product businesses where margin, working capital and planning are decisive.
What began as financial support at an early stage evolved into a long-term strategic relationship. Over the years, The Startup CFO helped build the financial backbone that allowed Baïa to grow with more control, face audits with greater confidence and arrive prepared for a key transaction.
