Stance’s senior team asked one of Amplēo’s partners with whom they had a long-standing relationship, to be their outsourced, part-time, strategic CFO. He supervised the Stance’s accounting team, developed procedures and appropriate controls, and created a financial reporting deck to help the team manage cash, inventory and receivables, and helped Stance recruit and train a full-time Controller and a Director of Operational & Business Intelligence with deep industry experience. In addition, the CFO worked with John Wilson, Stance’s President to secure a factoring line of credit with Wells Fargo Capital who provided not only much needed working capital but credit reviews and underwriting of Stance’s customers to help mitigate collection risk.
Stance’s success and international recognition provided opportunities to expand distribution by opening more Stance retail stores, introduce new product lines such as performance socks and underwear, and improve its products through the addition of Stance Labs for research and development. These opportunities required more financial resources than Stance could generate from operations. As a result, Amplēo’s team helped Stance raise over $75M in equity capital in two financing rounds to finance these strategic initiatives at shareholder-friendly valuations and terms.