Challenge

As is the case for most start-ups, at the beginning Taykey was composed of no more than 3-4 employees working long hours to build, deliver and advance the technology at a fast pace.  During this initial phase in the life of a start-up company, it is basically impossible to set up an in-house financial department.  Moreover, a small company that aims to grow at a very high speed must have experts at its disposal, to bring in the knowledge and skills that will support the company as it drives forward.

 

Solution

Nextage's team of professionals provided Taykey with all the expertise required; from accounting and reporting services, to managing wages, bookkeeping and CFO. This includes the full operation of budget planning, cash flow management, accounting statements, payroll administration, strategic operation planning, treasury and cash management and more.  Nextage also helped with administration of option plans and all related documentation required by the Government and tax authorities. 

 

Another corporate know-how Nextage brought is in the area of HR, as Taykey sought out new professionals to join its lines. Nextage's team helped bring in the right people to different departments, from Sales to Customer Services and Office Admin. First they assisted Taykey in defining the set of characteristics to be sought in each professional, and then they helped to bring in those professionals.  

 

 

Results

In mid-2011 Taykey opened a second branch in the US. The company continues to grow after having received a second investment of $9 Million from Sequoia Capital in June 2011. Nextage continues to work with Taykey in their American offices as well, bringing in financial expertise to a quickly growing enterprise.