#15 - Simple metrics, big impact: How a CFO drives saas growth, with Christian (CJ) Jessen (Formalize)

The Commission Corner - with our first CFO guest ever: Christian
(CJ), dialing in from Denmark.





From building his own startup as a developer to investment
banking at Citibank in NYC, C.J. brings a unique mix of tech and
finance to the table. Now, as CFO at Formalize (formerly
Whistleblower Software), he’s helping scale one of Europe’s most
promising compliance startups.





What’s the story behind Formalize?


Started as a point-solution for whistleblower compliance,
sparked by new EU regulations.


Transformed into a compliance operations platform serving SMEs
that now face enterprise-level regulation.


Closed a €15M Series A to expand across Europe.





What makes Christian (CJ) different as a CFO?


Didn’t “grow up in finance” - started in tech, pivoted into
banking, then back to startups.


Brings M&A and fundraising expertise from Wall Street
straight into hyper-growth environments.


Thinks in systems: from Quote-to-Cash to long-term product
dynamics.





Revenue, not complexity


For early-stage SaaS: ARR or MRR is the only metric that
matters.


C.J. avoids over-engineered KPIs and keeps dashboards focused
on sustainable growth drivers.





How does he view commission?


Strong believer in clear and simple commission plans - reps
should instantly know what they earn per deal.


Incentives go beyond money: team-wide milestones, symbolic
rewards (like a shared espresso machine), and moments that stick.


“You want reps to feel success - not calculate it in
spreadsheets.”





Fundraising mindset


CFO isn’t in the spotlight – but behind every deck, model, and
investor call.


The process is like sales: “The only difference is I only need
to close one deal.”





C.J.’s takeaway: “Understand the product. Understand the cycle.
Build incentives that feel natural, not forced. Then step back
and let the system run.”