Tinka Holding BV
24-10-2022    2022-00119   

Tinka BV ('Tinka') has the mission to make life better for people across the Netherlands and beyond by helping them afford what matters most.
Tinka has been described as a "start-up sixty years in the making". This is reflecting the heritage as part of the Wehkamp Group (Netherlands' leading digital retailer) and the separation from the Group to from an independent company in June 2021: A fintech company based in Zwolle, although working hybrid from home and in the office is likely to be future way forward. The people of Tinka, predominantly work remotely from the locations across Europe. The shareholder of Tinka is Apax Patners, a leading global private equity firm.
The products Tinka specializes in are Buy Now Pay Later, invoicing and point of sale credit. The prime focus of the company is on the customer needs. If you really fulfil the needs of the customer, he/she will happily return in the future situations.
The strategy for the years to come is based on innovation and internationalization, driven by changing customer needs, within a content of compliance. The aim is to transform from Wehkamps’ payments provider to "the most loved and responsible deferred payments partner in the Netherlands beyond". Bringing new retailers on the platform is a clear goal in this transformation. Currently the number of the new retailers connected is 18.
Tinka is supervised by the AFM and will be surprised by DNB in the future, when the payment license is updated. The field in which the business is done, is continuously undergoing stricter rules and regulations. Both payments and consumer credit are affected by this tightening. Tinka aims at being 'best-in-class' where it comes to compliance and her relation with the supervisors.
At Tinka the employees week to embody 5 key virtues, which all staff, management, executives and Supervisory Board members endeavour to role model. These virtues are promoted across the Company and drive day to day behaviour, decision making and performance management.
The 5 Tinka virtues are: Truth, Intrepid, Nurturing, Knowledge, All-in
Customer data
Number of unique customers is: 3.5 mln
Number of credit customers: 0.5 mln
Credit requests per year: 1.2 mln
Payments per year: 11 mln
Csat: 8.8
NPS: 55
Vacancy: CFO Tinka
TInka is hiring an experienced CFO, the 2nd in command who acts as a true sparring partner for the CEO.  A background in working in financial services preferably with banking and consumer lending is essential, together with working experience with private equity owned organisations and understanding of the funding process / capital raising process.
The role
Tinka is operating in a fast growth environment, regulated and has recently changed the structure of the finance department after the separation from Wehkamp. The CFO will play a leading role in actively forming and shaping the Finance and Controlling department within Tinka.
Key dimensions

  • Reports to: Chief Executive Officer, Tinka BV
  • Location Zwolle with ability to distance / hybride working
  • Interesting package, including a Management Incentive Plan rewards (dependent on value creation)

Value creation objective
The role is to create around €220m company value, together with other critical roles creating in total €440m, bringing the valuation of the company from €60m now to appr €500m by the end of 2025.
Objectives in the role
To build a finance team, conducive to support transactional activity as well as delivery.

  • Creating a lean team from the ground up, comprising only the roles that are truly indispensable for running the company and enhancing its value
  • Creating concise job profiles for recruitment internally or externally

Arrange the “financial” house of Tinka to stand strong and solid for future growth.

  • Organize solid reporting, financial models, comprising costs and risk profiles etc.
  • Conducting risk sensitivity analyses per product identifying highly sensitive features
  • Working with peers on the management team (including risk, product), translating these into price bandwidths per product; Product is accountable for the price-bandwidths, CFO is accountable for sensitivity analysis in unit economics
  • Pricing is a competitive advantage. CFO needs to establish pricing bands in line with our risk appetite to offer our products in a highly competitive low margin market.

Contact with banks: for each the new products (invoiced, buy-now-pay-later and consumer credit), well before its launches, negotiate and sustain the relevant warehouse contracts or ABS facilities by

  • Leading public ABS process
  • Renegotiating timely extension of warehouse facilities with banks when the company outgrows existing warehouse contract
  • Tactically choosing and building a network of interested partner banks or other sources of funding (eg blockchain based securitisation) matching out product offering and risk appetite

(Note: public ABS creates brand equity & shows the performance of our portfolio measured against the public market. By maintaining a broad network of banks to negotiate with, price competitiveness is maintained. Savvy and interested in stable coins and Blockchain value drivers).
Obtain the relevant national and international licenses for each regulated product planned to be offered well in advance of launch, and maintain those by

  • Establishing processes to stay within the restrictions of those licenses
  • Using pass-porting from the Dutch licenses as much as possible to enable smooth obtainment of licensed abroad
  • Writing and maintaining the required business plans in cooperation with the CEO and CCO

Fit criteria
The CFO will, like the rest of the leadership team, have a unique blend of experience, capability and character. Here’s what we looking for:
Your Experience

  • You will be an experienced CFO or Finance Director, certainly in retail financial services, preferably in payment services
  • You will have operated effectively in a PE or high growth VC environment
  • Tinka is a reasonably small (<140 colleagues) but fast growing and highly ambitious organisation, so you’ll need to thrive in that kind of environment;
  • You’ll have worked internationally or had exposure to international business
  • You will be familiar with building high performing teams from limited resources
  • You will be experienced in leading funding programmes, including public securitisation programmes
  • You are familiar in working with an Audit Committee (in our case, an Audit, Risk & Compliance (ARC) committee)

Your capabilities

  • You are famous for delivering the right results, in the right way (see Character traits)
  • Known for effective financial controllership, balance sheet management, cash management and audit, you can create robust business models for delivery of profitable growth
  • You build high performing teams from a limited pool of resource – diverse, inclusive, courageous, committed, purpose-oriented and results-focused
  • You are highly capable on the detail and don’t simply rely on your higher level strategic instincts to get you through
  • You harness your experience and skills to quickly build credible and enduring relationships with external stakeholders – including banks, funders, regulators
  • You quickly adapt to new environments and markets
  • You understand retail financial services risk and are fluent in working within (and contributing to) a robust risk management framework

Your character traits

  • Tinka is leading the market in building a diverse, inclusive and equitable organisation. We believe that everyone has their own superpowers and at Tinka we’re harnessing these differences to create a unique culture. We want you to be no one but yourself – so here are the traits that we believe you’ll need to thrive in this particular leadership role:
  • You’ll always be across the detail but you can also go big picture when required
  • You’re hands on, but recognise you need to carefully delegate in order to bring your team to mastery – a key component of every high performing team
  • You’ll be optimistic about our future, but you don’t allow any bias towards optimism to interfere with mindful, balanced judgment that effectively calculates risk
  • And most of all, you’ll role model our virtues. These are: Truth, Intrepid, Nurturing, Knowledge and All-in. We choose virtues over values because values describe what we believe, whereas virtues show what we intend to do. That’s ultimately what matters most. See our separate briefing pack for more details – take a look, as our virtues tell you everything you need to know about us

The procedure
Tinka is guided in this recruitment procedure by Ingrid Reichmann, partner of Partners at Work. She will conduct the first interviews with potential candidates. A pre-employment screening and an assessment will be part of the selection procedure. Please send your cv to Email:
Please contact Partners at Work by phone for more information; +31 35 548 0760 or just click on the button 'Solliciteer'.