A successful financing round amid major transformation: Case P2X Solutions

When P2X Solutions’ Business Controller decided to move on to new challenges, the company quickly needed someone to step into the role while recruiting a replacement. At the same time as the recruitment process was underway, the finance team faced additional pressure due to a rapidly changing business situation, as a demanding financing round was about to begin. With the support of one of NIS’s consultants, the finance team successfully navigated a period of significant transformation.

Support from an Interim Controller eased the CFO’s workload during a financing round

P2X Solutions is a startup building one of the Nordic region’s first industrial green hydrogen plants in Harjavalta. The company’s finance team consisted of two people: a CFO and a Business Controller.

As the Business Controller moved on to new challenges, the role was temporarily taken over by NIS consultant Riikka Vuorenoja. She was responsible for traditional Business Controller tasks such as profitability calculations for future investments, developing internal cost accounting for upcoming production facilities, and reporting to various stakeholders. She also supported the CFO during the financing round and handled a range of related tasks, freeing up time for the CFO to focus on the bigger picture.

NIS consultants are accustomed to quickly taking on new responsibilities. Thanks to Riikka’s expertise and background as an auditor, it was decided to retain her within P2X’s finance team even after the financing round, rather than initiating a months-long recruitment process. The intensive financing round required Riikka, in her role as Interim Controller, to work flexibly and with exceptional efficiency and expertise to deliver high-quality materials to investors within tight deadlines.

Flexible support through NIS interim consultants in a changing environment

Following the financing round, Swiss energy group Alpiq became the main owner of P2X Solutions, enabling the company’s growth and the construction of new production facilities. NIS consultant Riikka supported the integration of monthly financial reporting into Alpiq’s systems and the application of group guidelines, for example in accounting for investments. During the transition phase, continuity in financial management and data handling was particularly important, as the Harjavalta production facility was nearing completion and the company’s CFO was set to change.

As circumstances evolved, P2X Solutions continued to benefit from Riikka’s expertise. The assignment was extended by more than a year, and before its conclusion, Riikka will remain in place to secure a proper hand-over to her successor.

P2X Finance Director Olli Muurikainen and NIS consultant Riikka Vuorenoja

”By using NIS interim services, we quickly gained access to a top-tier resource in a flexible way. Riikka, who stepped into our Business Controller role from NIS, is a flexible and conscientious professional, and her strong expertise was a perfect fit for our company. We were therefore pleased to be able to benefit from her expertise over a longer period of time”, says Olli Muurikainen, CFO at P2X Solutions, who joined the company at August 2024.

Time and expertise for the finance team with the help of NIS interim consultants

NIS interim services bring valuable expertise into the organisation while freeing up time for other team members. Riikka reflects on her assignment at P2X Solutions:

“The work was very interesting, as you don’t often come across a financing round in a startup. The assignment was very timely and motivating, as P2X Solutions is building the green hydrogen market in the Nordics. Roles and responsibilities in a startup are flexible, which gave me the opportunity to learn new things and apply my skills extensively.”

NIS finance professionals can often step into a new role at very short notice. In changing situations, contracts can easily be extended as needed, without long-term commitments. NIS also has the expertise to meet a wide range of needs, ensuring the right person is matched to the role with the right background.

Interested in flexibly hiring an interim finance expert for your company? Learn more and get in touch with us here.