Our Client
Tenzing Search are excited to be partnering exclusively with Andercore as they bring in their first ever CFO.
Andercore is an AI-native supplier of industrial materials - executing trade and distribution end-to-end, becoming the supplier of record for the entire industry. Five years in: seven European markets, most of the volume from customers who keep coming back and a banking consortium financing their growth.
Their proprietary AI stack digitises and automates the full trade lifecycle, from procurement and pricing through to quality control, logistics, and embedded financing. They have scaled to a large triple-digit-million revenue and have a team of 80+ people across Berlin and Asia.
The company is led by a team that uniquely combines deep operational expertise with strong technical leadership. Founder and CEO Philipp Andernach brings fifth-generation experience from a manufacturing and trading family, while Elsa Cordonnier, as the technical architect behind the platform, leads the development of the AI systems and agent-based orchestration that power Andercore end-to-end.
They recently closed a $40m Series B backed by Atomico, Project A, and Invent Capital, with institutional support from large European banks. The next phase is about building the financial infrastructure that gets them to Series C, or a clean pivot to profitability - and they need a CFO who can support the decision-making alongside the board.
This is not a reporting role. This is a system-building CFO position with financing responsibilities and active M&A.
Here are the key responsibilities within the role:
- Cash conversion cycle — Andercore moves physical goods across borders with real working capital at stake. Growth in trade eats cash, and this CFO will own that problem. Managing buyer terms, supplier terms, and 3PL costs so cash is freed rather than trapped as the trade book grows. This is the difference between scaling and stalling.
- Finance and accounting infrastructure. Building the ledger, the controls, and the systems deeply integrated into the platform. The finance function needs to run at the speed of the trade, not behind it. That means scalable internal controls, audit-ready financials across multiple entities and jurisdictions, and governance that enables fast decision-making rather than slowing it down.
- FP&A, one source of truth, refreshed monthly. Forecasting, scenario planning, and unit economics tied to NRM, EBITDA, and the path to profitability. No surprises for the management, lenders or the board.
- Stakeholders’reporting. Covenant management, monthly numbers, and the relationships with institutional banking partners are owned end-to-end. The kind of reporting that builds confidence, not questions.
- Managing lenders and BNPL providers' relationships, and negotiating or executing funding transactions as and when required
- Lead the next financing rounds. Get Andercore Series C ready, or own the pivot to profitability if that is the direction. Investor relations is owned end-to-end, not delegated to advisors.
- M&A from term sheet to integration — Financial diligence, deal structure, earnout mechanics, and post-close financial integration. The goal is turning acquisitions into NRM and throughput, not just headline numbers.
Ideal Candidate Profile
- 3 to 4 years in investment banking or Big 4 audit, ideally transaction services, followed by 3 to 5 years in a single venture-backed business.
- Venture experience in a platform or e-commerce business, not SaaS. Businesses connecting buyers and suppliers with real working capital and physical fulfilment. The successful candidate will understand the cash dynamics in this type of business.
- A business degree from a top-tier university is preferred.
- Fluency in English is essential, and fluency in German, native or near-native level is a big benefit given the Berlin base and European operating footprint.
The role is based in either Berlin or London. Berlin is the HQ, so if that is your base, you will be in the office five days a week, embedded in the leadership team from day one.
London is also an option, but it comes with an additional dimension: you will be one of the first hires in the London office. Either way, this is a hands-on, close-to-the-business role.
This is a rare mandate: first CFO, well-backed, complex capital structure, real M&A activity, and a product that is genuinely doing something new in one of the world's largest industries. The right person will want to be close to the business, comfortable with ambiguity, and committed to the long-term journey. This role could be career-making.
