6 | Acquisition International,Global CFO Excellence Awards 2024 From the day she achieved a first-class accounting and finance degree from the University of Limerick in her native Ireland, Vineta Bajaj has been destined for great things in this space. In the years since, she has gained a number of certifications from Chartered Accountants Ireland, such as an IFRS Diploma and a UK and Irish GAAP certificate, to name just a couple. Along with this, she is also Chartered Tax and Accounting certified, something made all the more impressive by the fact that she has funded all of this training herself. Across her storied career so far, Vineta has excelled in the field of finance, filling positions for such organisations as KPMG Ireland and Kerry Group PLC. However, it was her ten-year stint with industryleading e-grocery retailer Ocado that really took this finance aficionado to the next level. Joining the company in a senior financial reporting accountancy role in mid-2013, Vineta worked her way up the company ladder, thriving in a number of finance director roles by the time she accepted the job with Rohlik Group in late 2022. The role that Vineta played in developing Ocado into the market leader that it is today cannot be overstated, and a big part of her tenure with the company was spent helping it to develop a strategy that would see it grow internationally. Having more than achieved this, Rohlik Group brought with it a new opportunity; to once again take a growing business and give it the boost it needs to become an industry giant. Despite the similarities between Ocado and Rohlik, there are some notable differences. Yes, Ocado is for ordering groceries and getting them delivered the next day, but customers may also still go to their local bakery or supermarket to pick up the odd thing here and there. Rohlik, however, goes that one step further. It not only does the big weekly grocery shop, but it partners with the likes of the best local bakers, butchers, and farmers, getting their produce on its website. The result is fresh, local food delivered straight to a customer’s door. Making the most of its status as a 21st century retailer, Rohlik’s operation far exceeds simply providing quality produce and fast delivery to its customers. It also prioritises sustainability and the latest technology, as seen in its use of the likes of CN-powered vehicles and electric vehicles across its fleet. Plans for every one of these vehicles to be made electric are also in place, and by utilising such elements as eco-friendly packaging, a programme to sell all preexpiry products, and reusable bags, the business is more than doing its part for the planet. All of this aligns with Rohlik’s ultimate mission, this being to help people across Europe lead happier, healthier lives. Moreover, with more than 17,000 items lining its inventory, the company has one of the most broad and differentiated assortments of goods available across the continent. Its delivery options then even include sameday delivery, with this seeing items delivered as little as an hour after booking. More than 97% of the company’s deliveries are on time, and they are carried out in handy 15-minute slots for added convenience. As one can hopefully see, the partnership of a pioneering organisation like Rohlik Group and a proven finance specialist like Vineta should open up the floodgates for some truly remarkable innovations and continuous growth in this sector. Unsurprisingly, over the past 18 months or so, this has certainly been the case, with a number of exciting developments being carried out that have seen the company fortify its leading position in this industry. One such achievement has been its acquisition of online German supermarket Bringmeister. This venture was made official in September last year, and saw the company expand further into Germany by opening its Berlin operations shortly after. Such a strategic move was highly beneficial across the board, as it increased efficiency, brought in more customers, reduced operational costs in some key sites, and aided the increase in profitability. Things did not end here, as Rohlik also integrated its leading automation technology into this combined operation, giving customers a taste of this Czech online grocery retailer’s signature services, from its swift delivery times through to its array of local and international goods. Yet another milestone achievement, this one from earlier this year, saw Rohlik Group secure a staggering €160m in fresh growth capital, allowing it to fund its additional European expansion efforts. This investment was spearheaded by the European Bank for Reconstruction and Development, along with the aid of existing investors Sofina, Quadrille, Index Ventures, and TCF Capital. Also, this investment was complemented by the European Investment Bank’s Scale-Up Initiative, which provided Rohlik with growth capital funding. On the back of accomplishments such as these, Rohlik is demonstrating its ability to continue to grow, adapt, and thrive, even in a market as turbulent as the one that exists in the post-pandemic world. As such, the company is presently targeting more than €1 billion in revenue with positive cash flow by the end of this financial year. This will not be the first time that Vineta has been responsible for helping a business to cross the billion-dollar mark, as she did the same with Ocado, taking it from a £500 million business to a £2.5 billion business. Even though she is not quite there yet with Rohlik Group, the progress that Vineta has made and the acclaim that she has received in just 18 months has been remarkable to see. Having always dreamed of becoming a CFO, Vineta is truly living the dream, being guided every step of the way by her first-hand experience and a wealth of knowledge concerning both finance and the world of online retail to Since being established a decade ago in the Czech Republic, online grocery company Rohlik Group has been setting the gold standard for service delivery in this sector and is on an upwards spiral towards becoming Europe’s leading online grocery delivery service. The business today operates right across Europe, including in the likes of Germany, Austria, Italy, and Hungary, in addition to its home nation. For the second consecutive year, we are championing the company’s CFO, Vineta Bajaj, who has been taking the brand to new heights since joining the team back in December 2022. eGrocery CFO of the Year 2024: Vineta Bajaj
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