How Petcube became profitable with Fuelfinance
How Petcube became profitable with Fuelfinance
Industry
Consumer Goods
Employees
50+
Financial tech stack
Quickbooks, Gusto, Carta, Brex, Mercury, Stripe
About Petcube
Petcube produces the world’s famous smart devices for dogs and cats, that allow pet parents to interact with their pets through smartphones. The company is a 4x winner of the Reddot Product Design Awards and was featured in the Ellen Degeneres Show.
“With Fuelfinance we received a 5x better solution that was 10x cheaper, than our in-house financial department.”
Yaroslav Azhnyuk
Co-Founder at Petcube
Game-changing functionality
Budgeting & Forecasting
Forecasting deviation
5%
Challenges
Before working with Fuel, Petcube constantly had a headache with their finances. For example, they had troubles wrapping up all the monthly financial activities.
The forecasting of their financial results wasn’t on point as well. Once in a while, they would find themselves in a crisis, realizing that they messed up with their previous predictions. Thus, the team couldn’t really trust those forecasts and plan ahead properly.
Another challenge was a lack of a solid financial system in place. There were no defined financial processes, but there were problems with automatic data consolidation and access to real-time analytics.
Solutions
Automated data pipelines into a real-time dashboard, a full reporting stack, forecast automation, unit economics, and a dedicated manager turned finance into one reliable engine.
“Fuelfinance made a major contribution to our profitability and gave a peace of mind about our business’ future”
Yaroslav Azhnyuk
Co-Founder at Petcube
Results
Losses flipped to profit, a Plan/Actual culture took hold, and leadership now plans with confidence, not anxiety.
From losses to profitability
One of the most impressive results that Petcube got from working with Fuelfinance is going from making losses to making profits. Thanks to the solid financial system, the executive team was able to quickly spot problems and fix them. This also made the decision-making process better, based on reliable data and real-time metrics.
Improved company culture
The whole Petcube team’s culture also changed, as they completely embraced a Plan/Actual approach. Now, every employee understands how their decisions affect the company’s financial results. It also became easier to see if something went wrong with their current performance.
Peace of Mind
The Petcube executive team finally got peace of mind about their business’ future. They are now 100% confident in planning and predicting their financial results and can devote their time to strategic decisions.