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Michael Kerfoot

CFO

Michael Kerfoot is a CPA, CA and senior finance executive with more than 20 years of experience partnering with public, private, and owner managed companies across mining, technology, and professional services. As founder of Sprout Accounting, he built and sold a firm delivering outsourced CFO and finance team services to more than 100 digital and emerging technology companies, several of which went public or were acquired. He pairs capital markets rigor gained as CFO of two TSX listed companies with an entrepreneur’s instinct for building lean, high performing finance functions. He also supports an AI software research company, bringing his finance and strategic expertise to the evolving technology sector.

Michael Kerfoot

Track record highlights

  • Built and led a successful finance advisory practice, providing finance leadership to more than 100 digital and technology companies, including supporting Thinkific ahead of its 2021 TSX listing
  • Played a key role in the 2012 sale of a TSX-listed gold producer generating over $60M in annual revenue, as its Chief Financial Officer.
  • Managed a treasury of more than $20M across multiple countries and redesigned treasury and financial-reporting processes as CFO of a TSX-listed mining company
  • Led a $6.5M private-placement financing and built new accounting and reporting systems as CFO of a TSX Venture-listed exploration company operating in Canada and Peru
  • Currently CFO of an open-source AI research company, overseeing international tax, transfer pricing, and a significant research grant from the UK's Advanced Research and Invention Agency.
  • Reduced staffing requirements by 15% and implemented new inventory-management systems for a $50M-revenue mining business, improving operational efficiency and cost control

Sector Experience

  • Mining & Natural Resources: Gold & precious metals, diamond exploration, copper exploration, tungsten mining, forestry
  • Technology & Software: SaaS, e-learning, open-source software, AI research, AdTech, media platforms, e-commerce
  • Consumer Products & Retail: Direct-to-consumer (DTC) brands, franchise food service, storage products, lifestyle products
  • Professional & Creative Services: Public accounting & assurance, design & branding agencies, marketing & advertising
  • Capital Markets: TSX-listed companies, TSX Venture-listed companies, mining, technology and public-market environments

Michael's specialist skills

Finance Leadership

Strong track record of leading finance functions and advising senior leadership teams across digital and technology companies, with particular strengths in FP&A, financial reporting, controls, forecasting, and strategic financial planning.

Capital Markets & Treasury Management

Deep knowledge of treasury operations, liquidity management, corporate finance, and capital raising, including the management of multi-country treasury operations exceeding $20M and $6.5M in private-placement financings.

M&A & Exit Planning

Advises founders and boards through M&A transactions, due diligence, negotiations, and exit planning, with a proven track record that includes multiple successful company sales and a TSX-listed public company transaction.

Financial Systems & Automation

Brings a modern approach to finance transformation through cloud accounting, automation, and systems integration, improving reporting, cash-flow visibility, and decision-making

Performance Management, KPIs & Restructuring

Develops KPI frameworks and performance dashboards while helping businesses identify improvement opportunities, optimize costs and headcount, strengthen sales pipelines, and improve profitability through restructuring and turnaround initiatives.

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