How Jazaa Built a Finance Function from Scratch for a Saudi Crowdfunding Platform
A KSA-based debt crowdfunding fintech had been operating for 4 to 5 years without a finance team. Jazaa stepped in as interim CFO, building bookkeeping, reporting, compliance, and audit support from the ground up.
- Financial Technology
Financial Technology / Debt Crowdfunding (P2P Lending)
Interim CFO Services
Ongoing
Kingdom of Saudi Arabia
Bookkeeping and Transaction Management, Financial Reporting and MIS, Compliance and Regulatory Reporting, Tax Filing, Budgeting and Forecasting, Audit Support, Process Improvement and Financial Controls
4 to 5 Years
Operating Without Finance Team
Ongoing
Engagement Duration
3 Levels
Finance Coverage
Vision 2030
Market Alignment
About the Client
The client is a Saudi Arabia-based fintech platform operating in the debt crowdfunding (P2P lending) space. The platform focuses on providing working capital financing to SMEs, connecting individual and institutional investors with small businesses seeking short-term loans through a digital marketplace.
The business model aligns with Saudi Arabia’s Vision 2030 by supporting SME growth, financial inclusion, and the shift away from traditional bank lending.
The Challenges
The company had been operating for 4 to 5 years without a dedicated finance team. Financial records existed, but they were spread across multiple systems with inconsistencies that made accurate reporting difficult.
High transaction volumes added complexity. Coordination was another challenge. Financial data needed to flow from compliance, IT, and operations teams into the reporting process. Without a finance function owning that coordination, inputs were often delayed or unreliable.
The company had regulatory requirements to meet. Staying compliant while also trying to build out basic financial processes from scratch required help that could work at both the operational and strategic level.
What Jazaa Did
Jazaa stepped in as interim CFO, building the entire finance function from the ground up across three levels.
At the operational level, a bookkeeper handled day-to-day transaction recording, bank reconciliations, and accounts payable and receivable management. At the review and control level, a team lead oversaw accuracy, compliance, and the monthly closing process. At the strategic level, a financial analyst drove reporting, variance analysis, budgeting, and forecasting.
The team also handled tax filings, audit support, and regulatory compliance reporting. Coordination with internal departments became part of the regular workflow rather than a last-minute scramble.
How the Finance Function Is Structured
- Operational Level - Day-to-day transaction recording, reconciliations, and payable/receivable management
- Review and Control Level - Accuracy checks, compliance validation, adjustment entries, and monthly closing
- Strategic Level - Financial analysis, budgeting, forecasting, variance tracking, and decision support
- Regulatory and Audit - Tax filings, compliance reporting, audit support, and documentation management
- Cross-Team Coordination - Regular interaction with compliance, IT, and operations for data and planning
Results
For the first time in the company’s history, it has a functioning, structured finance operation.
Key Outcomes
- First structured finance function established after 4 to 5 years of operating without one
- Accurate, up-to-date financial records maintained consistently through structured processes
- Monthly close and reporting running on a regular schedule for the first time
- Regulatory compliance and tax filings managed as part of ongoing operations
- Decision-making confidence improved through reliable reporting and variance analysis
- Cross-department coordination improved with finance owning the data flow
Running Without a Finance Team? Jazaa Can Step In.
If your company has been operating without a dedicated finance function, Jazaa can build one.
Get In Touch
contact@jazaa.com
LOCATION
Dubai, UAE with clients across all Emirates
Meeting
Book a consultation to discuss your specific financial needs
"We didn't have a proper finance setup before this, so getting everything structured was a big shift for us. They took ownership of the day-to-day while also helping us understand what the numbers were telling us. Reporting became more consistent, and we started making decisions with a lot more confidence."
Founder Debt Crowdfunding Platform (KSA)