Cordoba Capital Markets
Built around your business
The financing package should reflect the uniqueness of each business. We design solutions around an individual asset base, cashflow cycle and profitability.
Cordoba Capital
Bespoke corporate finance solutions
Accelerating business growth using innovative, risk-sharing financing techniques. We are a corporate finance specialist and advisor to an institutional-grade finance issuance vehicle, raising working capital on the international capital markets through our Protected Cell setup in Jersey, under the permissions of the Jersey Financial Services Commission.
- Trade Finance
- Capital Raising
- M&A Advisory
- Transaction Services
About us
Financing growth without diluting equity
Our proprietary Profit-Participating Notes were designed to address a critical business problem: how to finance growth in a solvent, flexible form without giving up ownership. Unlike most corporate finance advisors and investment companies, we not only prepare businesses to raise working capital, we raise the finance itself.
Symbiotic by design
The most successful relationships are symbiotic, which is why traditional borrower and lender relationships so often lack equitable dynamics, flexibility and mutuality.
Sustainable on both sides
The result is a growth-focused form of financing for the business, and a solvent, secure and healthy investment for investors.
The problem
Growth businesses are underserved
Until now, no institution has offered low-cost, risk-sharing working capital designed around businesses like yours.
Debt that ignores performance
- Conventional facilities charge fixed financing costs regardless of how your business is performing.
- Debt creates an unhealthy, asymmetric relationship between borrower and lender.
- This commonly leads to business distress, insolvency and capital at risk.
Rigid, one-size-fits-all lending
- Bank credit processes are slow and template-driven, not built around your trade flows.
- Security and covenant packages are set for the lender's convenience, not your growth.
- Businesses seeking fairer, performance-linked funding have had nowhere to turn.
The cost to your business
- Working capital constraints force you to turn away profitable trade.
- Equity fundraising surrenders ownership and control to fund short-term needs.
- High rates and rigid repayments are out of step with your trading cycle.
The solution
Our proprietary Profit-Participating Note
The PPN provides interest-free, ethical, risk-sharing working capital for your business, without diluting your equity.
Backed by real trade
Funding is structured around your real trade activity, so finance scales with your order book rather than imposing a fixed debt burden.
Aligned cost of capital
No interest and no dilution: funders share in the profit of the financed trade, so your cost of capital moves with your performance and cash flows.
Stronger governance
Tight capital controls, enhanced performance tracking and ongoing support, all of it institutional-grade discipline delivered through a segregated, bankruptcy-remote structure.
Who we fund
Is your business a fit?
We fund the asset-backed trade activities of high-performance, mature companies trading in the global real economy across diverse sectors.
The profile we look for
- Turnover of £5–150 million per annum with a multi-year profitable track record
- Stable gross margins, maintaining consistency at scale
- Near 100% cash collection rate against financed assets
- Debtor and inventory days below 60
- Financed assets are highly solvent or typically appreciate in value
- Short to medium-term horizons of 12–24 months
- Ethical, non-vice industries with net positive ESG
What we look for in the numbers
- FCF positive: consistent free cash flow generation
- Healthy EBITDA: strong operational profitability
- Proven management: experienced leadership teams
Beyond capital
We deploy fractional CFOs before and during funding to deliver the highest governance and reporting standards, ongoing commercial support, and optimal growth of your business.
How it works
From introduction to funding
From first conversation to funding, the process is designed to be faster, fairer and more collaborative than traditional lending.
Step 01
Initial conversation
A short call to understand your business, trade flows and funding need. Indicative structure and terms are discussed from the outset, with no obligation.
Step 02
Information & review
Share recent accounts, management information and details of the trade or assets to be funded. Our fractional CFO team works alongside you to prepare and validate the numbers, with a clear decision timeline agreed up front.
Step 03
Structuring & funding
An asset-backed facility structured around your trading cycle, typically 12–24 months, delivered through a segregated, bankruptcy-remote funding vehicle with tight capital controls.
Step 04
Ongoing partnership
Enhanced performance tracking and governance support throughout the facility, ongoing commercial support from experienced operators and financiers, and capacity to scale funding as your business grows.
Reach
Access to the global capital markets
Diversified funding
Reduces over-reliance on domestic banks and opens a far broader base of global institutional investors.
Deeper capital pools
Taps large international markets, enabling raises well beyond what local banks or exchanges can supply.
Lower cost of capital
Competition among global investors can tighten spreads and beat domestic bank lending rates.
Longer maturities
Notes offer longer tenors than typical bank loans, matching long-term investment horizons.
Currency flexibility
Issued in currencies aligned to a business's functional currencies, creating a natural hedge.
Credibility & visibility
Regulatory disclosures build international reputation, easing access to future rounds of financing.
Scalability of financing
Raise materially larger sums as the business grows, funding international expansion beyond the ceilings of domestic lenders.
Single source of capital
Meet large funding needs in one transaction, rather than assembling and managing multiple bilateral providers.
Unlocking asset value
Turn receivables, property or other assets into funding through securitisation, releasing value trapped on the balance sheet.
The difference
Interest-rate financing versus risk sharing
Interest-rate financing prices risk in the market. Risk sharing prices it against performance.
Interest-rate based financing
Priced by the market, not by you.
- No correlation between your financing rates and the performance of your business
- Debt service can rise when trading is at its weakest
- Solvency compromised and shareholder value reduced
- Uncertainty drives short-term, speculative decisions with longer-term, damaging consequences
Risk-sharing financing: the PPN
Priced by your performance.
- Costs track the business cycle
- Margins stay consistent, protected from rate volatility
- Protects business solvency and preserves shareholder wealth
- A longer-term, healthier financier relationship leading to enhanced performance
Corporate finance services
Our services
Alongside capital, we provide a range of corporate finance and commercial services.
- M&A including search and selection, private equity and MBOs
- Buy and sell side advisory
- Special situations advisory
- Capital structure optimisation
- Transaction services
- Financial modelling and feasibility studies
- Finance transformation and business turnaround
- Treasury and risk management
- Finance function review and recruitment
- ERP implementations
- Controls, systems and procedures review, design and implementation
- Operational and strategic reviews
Fractional CFO services
The Cordoba advantage
The strategic value of a permanent CFO and the flexibility of an interim, and, with Cordoba, the capital to act on it. For growing businesses, typically below £200m turnover, the fractional CFO is the optimal solution. Only Cordoba pairs it with capital.
Full-time CFO
Deeply embedded, but a fixed cost, with 25%+ of the time lost to non-CFO tasks.
Interim CFO
Fast to deploy, but relationships and hard-won knowledge walk out with them.
Fractional CFOOptimal
The same seat at the board table, for roughly a third of the cost.
Strategy and capital, together
Most fractional CFOs hand you to external advisers, which is costly and disconnected. Ours design the optimal financing solution after carefully analysing a business's unique cashflow cycle, asset base and profitability. As a regulated investment vehicle, we also physically deploy the capital.
Cross-industry pattern recognition
Specialists serving multiple sectors, so best practice in reporting, tax, process and systems is refreshed continually. Clients receive dedicated time with our finance specialists plus access to a wide, global network built across our investments.
A focussed approach
To provide a highly effective engagement, CFOs need to keep their finger on the pulse of the market, which is why ours focus on strategy, commercials, process optimisation, M&A and growth capital.
Case study
White Lion Foods
Profit-Participating Notes were key to positioning White Lion Foods as one of the world's leading producers of Brazil nuts.
Revenue growth
0×
Revenue uplift
Over 24 months since first PPN issuance
0×
EBITDA uplift
Over 24 months
$0m+
Projected revenue
FY29
The challenges
- Post-pandemic closures of domestic supply-chain arms
- No access to the international capital markets
- Mismatched invoice financing: a six-month procurement window against twelve months of production and sales
The Cordoba solution
- A fractional CFO was positioned to assess the operations, global setup and finance function
- Global legal restructuring, ERP implementation, and enhanced controls and reporting administered
- A structured supply chain finance note was designed to fund procurement, production and global sales
The results
- Access to the international capital markets through the PPN, allowing the client to rapidly scale
- Flexible risk-sharing funding: the reassurance to pursue profitable opportunities
- Significantly increased shareholder wealth, positioning the business as a global market leader
Next step
Ready to partner with Cordoba Capital Markets?
A short call to understand your business, trade flows and funding need, with indicative structure and terms discussed from the outset, and no obligation.
Get in touch today