Research Methodology
- 100 Indian Unicorns* studied
- 50 US Unicorns* studied
- 40+ CFO Interviews
*The term unicorn refers to any startup that reaches the valuation $1bn
*Some of these unicorns have become publicly traded companies
Only 33% Unicorn CFOs hired in India have prior startup experience
Only 70% of Indian Unicorns have CFOs BFSI, Industrial & FMCG are the top 3 sources of non startup talent pool
72% Unicorn CFOs hired in the USA have prior startup experience
Enterprise SaaS and Fintech are the top 2 sources of startup talent pool
Unicorn CFOs in India are younger compared to the USA
15 – 25 years of experience makes up 60% of the talent pool in India
20 – 30 years of experience makes up 60% of the talent pool in the USA
An argument for greater gender diversity among CFOs at Unicorns
The representation of women CFOs in unicorn startups is comparatively higher in the USA, standing at 17%, compared to 4% in India.
67% of Indian Unicorn CFOs are in NCR and Bangalore
Base location of 9 CFOs is USA and 1 is Singapore, all of whom are Indian Enterprise SaaS unicorns; Of these 10 CFOs, 50% are US citizens.
Crucial competencies Unicorn CFOs
- Ability to shape company and business growth strategy
- Fund Raising and Mergers & Acquisitions
- Investor Relations Strong VC & PE community connect
- Board Relations
- Resilience
- Deep appreciation of Technology
Summary of Observations & Insights
- 70% Indian Unicorns have CFOs and the remaining have SVPs / VPs of Finance
- 67% CFOs have been hired from traditional industries in India
- 38% CFOs have been hired from traditional industries in US
- India BFSI, Industrial & FMCG are the top 3 sources of non startup talent pool
- USA Enterprise SaaS and Fintech are the top 2 sources of startup talent pool
- 35 – 45 years Age for Indian Unicorn CFOs
- 12+ CFOs quit Indian Unicorns in the last 1 year
- 15+ CFOs were hired by Indian Unicorns in the last 2 years
- 40 – 50 years Age for US Unicorn CFOs
- 4% Women CFOs in India
- 17% Women CFOs in the USA
- NCR and Bangalore are the hottest hubs for CFO hiring in India
Source: This information was obtained through our analysis and conversations with CFOs across Unicorns.