Who Are Enso?

Enso are committed to changing the world one tyre at a time. Previously Enso Tyres Ltd, Enso specialises in developing sustainable tyres for electric vehicles, aiming to deliver sustainable mobility, spectacular performance, and improving the environmental impact of tyres at the same time. The company has gone from strength to strength over the years, and in 2021 they won the LA New Mobility Challenge thanks to their radical approach to tyre manufacturing. There’s no doubt that they deliver tyres with uncompromised performance without adding to the cost of the vehicle, or the environment.

What Did They Need?

When we first met Enso Ltd they were a pre-revenue company, which meant they needed to keep a close eye on the financial side of their business. Senior management needed to focus on R&D, business development and funding to get the idea off the ground and running until a revenue stream could be built, which meant they needed someone on board to take care of the finances – including bookkeeping and financial health monitoring. In short, they needed a finance director.

How Did We Help?

Our team at Adstrum were perfectly placed to support Enso with their finances while they focused on growing and marketing the business. We ensured that their books were updated on a weekly basis so that we always had an accurate view of the company status at any time. We also prepared monthly management accounts and did weekly payment runs to manage the cash flow of the company.

We also came on board as their outsourced finance director. In this role, we helped them plan and manage their funding activities, which included preparing and updating their financial forecasts for various grants and funding applications. We also took steps to save them a substantial amount of money in professional fees by managing and processing their R&D tax claims in-house. It’s been an honour to work with such an innovative and passionate company, and we look forward to supporting them in their next stage of growth as well.