- Case Study
Financial Transformation for a High-Growth Fintech
How Jazaa Structured Fragmented Accounts into a Clean, Scalable System
About the Client
Our client is a fast-growing fintech startup providing digital wallet solutions for small-scale B2B businesses. The group operates through multiple legal entities across international jurisdictions, covering functions from licensing and compliance to technology development and IP ownership.
With a rapidly scaling team across operations, compliance, tech, and product, the company has quickly established itself as one of the region’s most ambitious fintech ventures.
The Challenges
Despite rapid growth, the company faced several financial and compliance hurdles:
Compliance Gaps
Several regulated entities operating without a dedicated in-house compliance team.
Limited Financial Oversight
Dependence on outsourced bookkeeping (Wafeq) with no robust accounting controls.
Audit Readiness Issues
Incomplete and inconsistent financial records across entities causing audit delays.
Transaction Backlog
Transactions spread across multiple gateways and bank accounts with inadequate tracking.
Lack of Internal Controls
Absence of structured processes for approvals, accounts receivable/payable, and COGS authorization
Jazaa’s Contribution
Jazaa is guiding the client through an ongoing financial transformation:
1. Audit & Accounting Cleanup
- Completed historical audits for core operating entities.
- Organized and reconciled transactions across banks, payment processors, and gateways.
- Brought intercompany accounts and records fully up to date.
2. Financial Control Framework
- Standardized chart of accounts across all entities.
- Designed and implemented internal processes for accounts receivable, accounts payable, and COGS approvals.
- Established authorization workflows for payments.
3. Ongoing Bookkeeping & Compliance
- Provided continuous bookkeeping services with real-time visibility.
- Cleared outstanding reconciliations and ensured audit-ready books at all times.
- Built foundations for smoother regulatory compliance.
4. Future-Ready Support
- Positioned the company’s financial systems to handle new product launches.
- Ensured scalability by creating controls to manage both incoming and outgoing wallet flows.
Results
- Audit-ready books completed through the latest financial year.
- Full reconciliations across banks, payment processors, and gateways.
- Tidy, compliant accounts across all 5 entities.
- Internal controls and approval processes implemented.
- Ongoing financial reporting now ready for audits, investors, and regulators.
Takeaway
Fintech companies often scale fast, but without disciplined financial systems, growth creates risk.
With the right financial partner, startups can catch up on compliance, build robust internal controls, and prepare confidently for audits, new product launches, and future fundraising.
👉 If your fintech or startup is struggling with reconciliations, compliance, or audit readiness, Jazaa can help you get investor-ready while keeping your books under control.
