If you haven’t noticed it yet, keep an eye out for a revolutionary new payment option appearing on your favorite ecommerce sites—Tiptop: Trade in & Pay Less.
The Next Big Thing in Payments
Tiptop is an innovative payment startup poised to transform how consumers purchase technology. It offers a simple yet powerful proposition: trade in old items to save on new purchases. Imagine you’re buying a new game device; with Tiptop Shop, you receive an instant payment offer for your old device, which is then applied directly to your new purchase before it is shipped to you from the merchant. This seamless trade-in model allows customers to save money, declutter their homes, and extend the life cycle of their devices.
What’s not to love? At Burkland, we couldn’t agree more. We’ve been by Tiptop’s side nearly since the beginning, helping them turn their game-changing vision into reality.
The Journey Begins
Tiptop was launched in 2022 by Bastian Lehmann, co-founder of Postmates. The company quickly caught the attention of investors, securing a $23 million Series A investment by May 2022. Recognizing Tiptop’s potential and the complexity of the fintech landscape, one of our VC partners referred them to Burkland, knowing our track record of supporting early-stage fintech disruptors. By June 2022, Tiptop had engaged Burkland for strategic finance and accounting support.
“Tiptop embodies what we love about the startup space – disruptive ideas, ambitious goals, tenacious founders and collaborative investors.”
Steve Lord, Managing Director of Service Delivery, Burkland
Navigating Through Pivots with Strategic Financial Guidance
From the outset, Burkland provided essential tactical accounting and controller services while also delivering strategic CFO guidance and financial modeling to help Tiptop identify their optimal business and revenue model. As with many startups, the road was not linear. Our fractional CFO team and FP&A professionals worked closely with Tiptop to explore a variety of financial, operational, and capital models to ensure every dollar of capital was maximized for growth.
Our involvement didn’t stop at high-level strategy. We became a true extension of Tiptop’s team—engaging almost daily, sharing insights, and adapting to the company’s evolving needs. With a dedicated Slack channel and weekly online meetings, our partnership with Tiptop is deeply integrated and continuously collaborative.
Tailored Financial Solutions for Rapid Growth
As Tiptop has evolved, so has our support. We’ve adapted our services to meet their changing needs and growth trajectory. Here’s how we’ve contributed to their journey:
- CFO Engagement: Our fractional CFO team provides high-level advisory services, scaling up or down based on Tiptop’s needs.
- Ongoing Accounting and Controller Services: Burkland’s startup accounting team provides comprehensive day-to-day bookkeeping, accounting, and controller services, ensuring Tiptop’s financial records are accurate, up-to-date, and compliant, allowing them to focus on scaling their business.
- FP&A Services: As Tiptop scales, our FP&A team continues to optimize the company’s financial model, ensuring a solid foundation for growth.
- Board Reporting: We provide robust board reporting support, keeping stakeholders informed and aligned.
- Treasury Management: Burkland developed a comprehensive treasury management program to protect Tiptop’s cash reserves and strategically deploy capital to generate returns.
- Navigating Crises: We were right alongside Tiptop during the SVB crisis, helping them navigate uncertainty and maintain stability.
- Compliance and Tax Strategy: From employee state registrations to R&D tax credit analysis, we ensure Tiptop remains in full compliance and takes advantage of every opportunity to optimize their finances.
“We love working with the team at Burkland. The three partners we work with are extremely dedicated to our success and knowledgeable about a wide array of topics we bring to them.”
Alicia Wetmore, COO, Tiptop
Looking Ahead
As Tiptop prepares for their next phase of growth, Burkland will continue to provide the comprehensive financial and strategic support they need to scale effectively and securely.
We’re excited to have supported Tiptop for more than two years. Together, we’re not just anticipating the future of ecommerce payments; we’re helping build it.