Interview with Marica Di Martino, CFO at Yeldo

In this second interview we introduce you to another key figure at Yeldo: Marica Di Martino, our CFO. Learn about the strategic importance of her role in both managing Yeldo's AFC (Administration, Finance & Control) and supporting the structuring of financial products together with the real estate team.

What is your role at Yeldo, and what are your main responsibilities?

At Yeldo, I serve as CFO with a dual perspective.

On one hand, I coordinate all financial activities related to Yeldo's strategic planning and operational accounting management: from planning and controlling to managing accounts receivable and payable, as well as financial statements and reporting—both internally for top management and externally for investors.

On the other hand, I am responsible for the financial product team, overseeing the development and structuring of financial products that meet the needs of our investors and clients. This perspective is much more business-oriented, focusing on the investment area, as I interact with both the real estate team, which originates investments, and the distribution team, to find the best solution to align sponsor needs with those of clients and investors, creating products that meet the requirements of both parties.

Which aspects of your function allow you to have such a 360-degree role for Yeldo?

The most valuable perspective of my role as a CFO is the ability to combine both strategic view and attention to operational details. On one hand, you must focus on the company's immediate financial sustainability, and on the other, on its long-term goals. In a rapidly growing context like Yeldo, it’s essential to strike a balance between financial stability and the strategic investments necessary for growth.

A CFO is not just someone who controls costs or cuts expenses. In our reality, the CFO is much more than that—a growth enabler who allocates resources as efficiently as possible to support investments.

My two areas of expertise are complementary, providing a truly 360-degree view of Yeldo. Since I am also responsible for structuring financial products, I can dive into business matters, interacting with suppliers and clients, which in our case are sponsors and investors.

You get a view of the whole value chain: knowledge of internal dynamics, combined with market analysis, become crucial. A concrete example? If we notice that a particular type of financial product works well for one client segment but isn’t suitable for others, we investigate market best practices and operational methods to develop tools that enable all our investors to subscribe to that financial product. For instance, we have structured a product that can be either bankable and purchased in DVP (delivery vs payment) or directly underwritten in FOP (free of payment).

These are highly customized dynamics, but we are striving to standardize processes as much as possible to support business scalability.

What are the steps involved in structuring a financial product? What key criteria do you consider during the structuring phase?

Structuring a financial product involves five key steps:

1. Identifying market needs. Alongside the distribution team, we analyze investors’ needs to create a product that effectively meets market demands. Depending on where our investor is based and where the sponsor is located, set up more complex or less complex structures for tax efficiency. Offering the most suitable solution based on geography adds significant value for everyone;
2. Defining product features. Once the type of product is determined, we define its features—again working closely with the distribution team. This includes setting fees, expected net returns, operational structure, and details like whether there is a coupon. Transparency with investors is crucial to accurately convey what their cash flows will look like;
3. Compliance with the underlying asset. We perform all necessary checks, such as KYC (Know Your Customer) and AML (Anti-Money Laundering) for the sponsor, before preparing legal documentation and issuing terms for each note. We collaborate with legal advisors to define the specifics of the instrument (duration, fees, etc.);
4. Execution and subscription. After the product launch, we handle operational tasks such as subscription analysis together with the distribution team and investment execution processes with the real estate team;
5. Ongoing monitoring. After the execution phase, periodic activities continue. The real estate team monitors the property’s performance, while the finance team translates this information into periodic reports for investors, providing consistent valuation updates for the instrument in line with the underlying asset's performance.

Among the main criteria for product structuring are risk-related aspects and the type of instrument. Depending on the instrument, the investor’s risk exposure can vary, as well as their level of governance in case of project delays.

One crucial element we are currently working on is sustainability. Yeldo focuses heavily on sustainability, especially environmental sustainability. Most of our projects involve redevelopments that support carbon footprint reduction. Many institutional investors, in particular, require ESG certification to invest in our products, such as our fund. Although we haven’t yet activated Article 8, we’re working to formally integrate this aspect. It will soon be indispensable for raising capital from institutional investors, and achieving this is one of our future goals.

What you love most and the most challenging facets of your job

What I love most is having a comprehensive view of the company, being able to contribute to strategic business aspects, and collaborating with all the teams. This is fantastic since I enjoy interacting and working with people—a positive and collaborative work environment makes all the difference.

The most challenging part, however, is something typical of fast-growing companies and startups: the need to better structure processes, ensure alignment across teams, and quickly shift focus. While this is stimulating, it’s also a significant organizational challenge.

As a senior leader and a mom-to-be, could you share your experience of how the company supports women?

In general, Yeldo promotes an inclusive environment and values diversity, providing strong support to team members to help them balance personal and professional needs. Everything is based on a strong foundation of trust between employees.

Yeldo is not only flexible, but it also creates initiatives to ensure the well-being of its people, regardless of role or gender.

For myself, in the coming months, I will have the opportunity to participate in an initiative that promotes gender diversity and supports women entering boards of directors. This program aims to reduce the gender gap and increase women’s access to leadership positions.

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