Mechanical Engineering Blog

Tibor Kadar Joins Fractory as CFO

Tibor Kadar Joins Fractory as CFO

We are happy to announce that Tibor Kadar has joined the Fractory team full-time in the role of CFO.

Tibor has extensive experience in the financial field, having worked for traditional household names like Morgan Stanley and Deutsche Telekom, amongst others.

“I was part of building Morgan Stanley’s Finance and Operation Centre in Budapest, focussing on automating operations and valuation review processes. At DT, I worked on setting up international call outsourcing services, which gave me exposure to how 9-digit strategic deals are being done,” said Kadar about his experience at large enterprises.

Fractory is not Tibor’s first encounter with the startup world. He was the CFO of Ecofleet which was later sold to Fleet Complete. He stayed on as CFO Nordic to finish the integration and was part of redesigning finance and operations processes at global scale followed by implementation.

“Looking for the next thrill, at Fractory I found that my values are aligned with the company’s – from ethics, precision, risk tolerance, flexibility, ambition and time management perspective. This kind of mutual understanding and respect is the basis for being able to give 100% attention to work and results,” explained Kadar.

Fractory’s CEO Martin Vares did not hide his delight at recruiting a high-profile executive in Tibor Kadar.

“For the last 3 years, we have been managing our finances with the founding team and our wonderful accountant Geil Otsar. Rapid growth of the company and our volumes made it clear that a full-time CFO is a necessity. Our business model needs engineering precision in finances too – tracking the right KPIs, having effective working capital structure, flexible funding and timely performance information. Our monthly double-digit growth calls for getting finances right from the beginning and made the search an intimidating task.

Luckily, we found Tibor. He brings very relevant experience in scaling, structure and management. More importantly, our values and approach clicked from the very beginning while still being different enough to spark productive conversations.

Fractory takes big steps. Tibor can be the catalyst for many of those steps, so we are very pleased to have him on board,” said Vares about Fractory’s newest member.

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