This is the third blog in our series, the People Behind the Tech, where we share a sneak peek at the all-stars behind our market-leading digital asset custody and management solutions. For those of you who missed it, last time we met up with Dima Danilov, our Software Team Lead.
This time we had the pleasure of sitting down with our CFO, Nadav Schliefer. Let’s jump in and get to know a bit more about Nadav, his position here, and importantly, what he is looking for on his team.
As CFO, my role is threefold:
In my position, I am lucky to touch upon every aspect of the business, from cash flow and revenue recognition to procurements, operational needs, and benefits. I work with the management, employees, vendors, accounting firms, and financial institutions.
My position and responsibilities allow me a unique perspective. As we were just acquired by Galaxy, a financial services and investment management firm in the digital asset, cryptocurrency, and blockchain technology sectors. I had the privilege of being part of the due diligence process and negotiations, which have important implications for how this company will work going forward.
So it is very difficult to talk about an average day at GK8.
You need to understand that GK8 is at a unique crossroads: 1) The industry/sector is extremely dynamic. What do they say? Never a dull day in crypto. 2) The company is still a start-up and our needs and requirements change on a daily basis. 3) We were just acquired by Galaxy, a TSX-listed company headquartered in the US, so we will need to adapt our processes and workflows going forward.
The bottom line? There is a need to constantly adapt to changing situations and needs. Priorities change daily. On the one hand, I need to help navigate the waters strategically, on the other, I am very ‘hands-on’ and the point of contact for a wide range of needs.
I think participation in our M&A process would be my choice. Over the years I have been involved in a number of M&As, and this one was unique in many aspects. Of course, as CFO, representing the financial aspects was a given, but there were also many legal and operational aspects that were new to me, maybe because the situation was unique, and maybe because this is a new and emerging market bringing with it additional complexities.
In the end, GK8 was acquired by Galaxy. By acquiring GK8’s suite of innovative custody technology and services, Galaxy aims to enhance how clients interact with and store digital assets. GK8 will continue to grow our business organically, taking advantage of the market’s growing demand for self-custody. In addition, Galaxy intends to incorporate the GK8 solution into its own solution set.
For our employees, the acquisition offers a great opportunity to be part of a reputable, publicly-traded company, while still experiencing the benefits of a tightly-knit start-up. I have no doubt that this is just the beginning of a fruitful relationship. On the financial and operational side, the work has just begun as we begin integrating new processes, systems, and workflows.
After over a decade at my previous firm, I was looking for a change. I was looking to expand my horizons and take on additional responsibilities. GK8 was a unique company, looking to disrupt a new industry (blockchain and cybersecurity were both new to me). To me, it looked like an interesting opportunity, sure to challenge me at a professional level. Needless to say, I was really taken by the people, especially company management.
I like the people, the feeling of comradery and teamwork. As I mentioned the company is continuously growing in this dynamic industry. So there is no monotony. What did we say? Never a dull day….
Yes, we are looking for a bookkeeper and payroll administrator. This is a dual role, and we need someone who is an expert at both. We are looking for someone who has worked for a company like ours, in a similar role. The person needs to feel at home behind the scenes on the accounting side of the house and enjoy the service aspects on the payroll and benefits side of the house.
The CVs we receive often have a lot of experience in only one of the positions above, and I am looking for someone with a unique combination of both. We are a small team and need to work together. I need someone to work with me side by side and understand the big picture while providing the highest quality of service to the wider team. If you are interested in applying for this role, click here.