Key Points:
- Appointment of Mathew George: Captain Fresh, a Bengaluru-based B2B seafood firm, has appointed Mathew George as its group chief financial officer (CFO) to strengthen financial operations and support expansion plans, including a potential public listing.
- Funding Round and Acquisition: The appointment follows a successful funding round where Captain Fresh raised approximately $25 million. Additionally, the company acquired CenSea Inc, a frozen fish and seafood importer and distributor in the US, to access the North American market.
- Strategic Importance of Appointment: Captain Fresh’s CEO, Utham Gowda, views George’s appointment as crucial for the company’s journey towards a public listing and to reinforce finance operations amid expansion efforts.
- Investor Backing: Captain Fresh has secured funding from both new and existing investors, including Tiger Global, Matrix Partners, Evolvence, and SBI Investment, indicating strong support for the company’s growth plans.
- Mathew George’s Background: George brings significant financial expertise, having served in leadership roles at companies like Medi Assist, Jumbo global, HCL Technologies, Cognizant, Genpact, and Accenture.
- Company Overview: Established in 2019, Captain Fresh operates a seafood supply chain network, providing a marketplace for fishermen and collaborating with retail outlets and supermarket chains. It competes with other meat and seafood supply startups like FreshtoHome, Licious, and Freshma.
- Market Presence: While Captain Fresh primarily operates on a B2B basis, supplying fish and seafood, it generates a significant portion of its revenue from European and US markets. Collaborations with major merchants like Metro, Auchan, and Carrefour have expanded its presence globally.
Captain Fresh, a Bengaluru-based B2B seafood firm, has appointed Mathew George as its group chief financial officer (CFO) in a strategic move aimed at bolstering its financial operations as it gears up for further expansion and a potential public listing.
The appointment of George comes hot on the heels of Captain Fresh’s recent successful funding round, where it raised approximately $25 million from both new and existing investors. Utham Gowda, cofounder and CEO of Captain Fresh, emphasized the significance of George’s role in steering the company towards its goal of going public.
George’s extensive experience in finance, with previous roles including global chief financial officer at Medi Assist and stints at renowned companies such as Jumbo global, HCL Technologies, Cognizant, Genpact, and Accenture, makes him a valuable addition to Captain Fresh’s leadership team.
Captain Fresh’s ambitious plans for expansion include the acquisition of CenSea Inc, a frozen fish and seafood importer and distributor based in the United States, which was completed in February. This strategic move was aimed at tapping into the lucrative North American market and diversifying its revenue streams.
With a clear roadmap and strong investor backing from firms like Tiger Global, Matrix Partners, Evolvence, and SBI Investment, Captain Fresh is poised for accelerated growth. George expressed his enthusiasm for joining the team, highlighting the company’s solid strategy and execution success as key drivers for future expansion.
Established in 2019, Captain Fresh operates as a seafood supply chain network, providing a marketplace for fishermen to sell their harvest while also partnering with retail outlets and supermarket chains to manage fish sales operations end-to-end. Competing with other meat and seafood supply startups like FreshtoHome, Licious, and Freshma, Captain Fresh primarily operates on a B2B basis, catering to sellers of fish and seafood.
The company’s reach extends beyond India, with 80-85% of its business originating from the European and US markets. Collaborations with prominent merchants such as Metro, Auchan, and Carrefour have solidified Captain Fresh’s presence in France, Germany, Poland, and the Middle East, with a small but growing portion of revenue coming from its operations in India.
As Captain Fresh continues to navigate the dynamic seafood industry landscape, George’s appointment underscores the company’s commitment to sound financial management and strategic growth, positioning it as a formidable player in the global seafood market.
Image Source: https://www.ankurcapital.com/startups/captain-fresh
