B2B fish and seafood supply chain startup Captain Fresh appoints Mathew George as Group CFO

Captain Fresh, a B2B fish and seafood supply chain startup, has appointed Mathew George as its Group Chief Financial Officer (CFO), effective May 17, 2024.

Mathew George, a seasoned corporate finance professional, brings nearly three decades of experience across diverse global markets, including the US, Europe, India, Dubai, and Nigeria.

Mathew George’s professional background

Before joining Captain Fresh, Mathew George was the Group CFO at Medi Assist Health Care Services. During his tenure, he led multiple successful mergers and acquisitions (M&As) that helped the company consolidate its position as a market leader.

He was also instrumental in managing the company’s recent initial public offering (IPO), which was oversubscribed 14.3 times. Mathew has held leadership roles in several renowned companies, including Jumbo Electronics, HCL Technologies, Cognizant Technologies, Accenture, GE Capital, and Genpact.

Roles and responsibilities

Mathew George is expected to bring financial excellence to Captain Fresh as the company scales its global business.

He is known for his expertise in partnering with promoters and private equity investors to develop robust corporate structures that ensure compliance, tax efficiency, profitability, and growth.

“I am thrilled to join this dynamic team, particularly at this pivotal moment in the company's journey. With a clear vision, demonstrated success in execution, and the support of esteemed investors, I believe we are primed to propel our growth forward. I am excited to leverage my financial expertise to collaborate with the team to create value for our shareholders and employees,” said Mathew George.

How well Captain Fresh is performing financially?

Captain Fresh has raised over $160 million in a series of funding rounds and recently acquired CenSea Inc., a US-based frozen fish and seafood importer and distributor.

The startup's gross revenue surged 3.7 times year-on-year (YoY) to Rs 773 crore in FY23 from Rs 208 crore in FY22.

However, Captain Fresh registered a 2.45 times jump in its losses to Rs 252 crore in FY23. While the company is yet to file its audited financials for FY24, it expects to close FY25 with revenues of over $650 million (more than Rs 5,000 crore).

Leadership comments

“Mathew’s wealth of knowledge and extensive experience will be crucial to bring in financial excellence as we scale our global business. Captain Fresh has the ambition to create one of the largest seafood platforms in the world, leveraging technology," said Utham Gowda, Founder and Chief Executive Officer of Captain Fresh.

"In this direction, we have managed to put together a large, well-diversified global business backed by marquee investors. We look forward to leveraging Mathew’s leadership as we aspire to evolve into a publicly listed institution,” Gowda added.