Haddock is a Spanish startup founded in 2020 that offers financial management software for the restaurant industry. Its platform uses artificial intelligence and OCR to digitize invoices and delivery notes, automate price control, detect errors and keep restaurant profit margins updated.
| Startup | Haddock |
| Sector | SaaS · Restaurants · AI |
| Founded | 2020 · Spain |
| Stage | Seed · Y Combinator 2022 |
| TSCFO services | External CFO |
| Main challenge | Providing continuity and structure to the finance area during a growth stage |
| Solution | External CFO · reporting · fundraising · due diligence · processes · restructuring |
| Key result | More than 2 years as an integrated financial partner |
— 01 · STARTING POINT
A CFO that was already part of the team
In April 2023, The Startup CFO started working with Haddock to cover a key area of the company: its finance department.
Since then, and for more than two years, our team has been integrated into the startup’s day-to-day operations, supporting its different growth stages and acting as a stable financial partner.
The relationship was built on continuity and trust. During a period in which several people passed through the finance area, The Startup CFO provided consistency, judgment and execution capacity through each transition.
— 02 · WHAT WE DID
Supporting the finance area across every stage
The collaboration with Haddock went far beyond accounting or reporting. At The Startup CFO, we acted as a part-time CFO, with an integral view of the company and its financial needs.
We participated in fundraising processes, prepared financial materials, responded to investor due diligence requests and coordinated with strategic providers.
We also supported relevant internal changes, process reorganization and conversations with legal advisors, always with the goal of providing structure, continuity and support to the management team.
Finance function
Ongoing support in reporting, financial tracking and finance management, acting as an integrated part of the team.
Fundraising and due diligence
Preparation of financial materials, investor responses and support during analysis and review processes.
Processes and structure
Reorganization of internal processes, provider coordination and support on key financial and legal decisions.
— 03 · FINANCIAL STRUCTURE
An external CFO with a long-term view
One of the relevant milestones of the collaboration was the support provided during a corporate restructuring process that Haddock was addressing together with legal advisors.
At The Startup CFO, we helped review the financial approach of the transaction, coordinating with the different teams involved and recommending alternatives that better fit the company’s needs.
The transaction was successfully executed and helped prepare Haddock for new growth stages, strengthening its internal structure and its ability to make decisions from a more solid financial base.
— 04 · RESULTS
A relationship that evolves with the company
2+ years
Ongoing financial support, integrated as part of the team
Fundraising
Support with materials, due diligence and investor communication
Structure
Process reorganization and support in corporate restructuring
Today, The Startup CFO continues to work with Haddock, adapting the service to its new needs and stages. For us, this case reflects what it means to be a true financial partner: being there at key moments, solving issues when there is uncertainty and contributing as part of the team.
Haddock shows how intelligent digitization can transform traditional sectors such as restaurants. Along that journey, a well-supported finance function helps the company grow with more structure, more visibility and a stronger internal base.
