Aselta

Operational finance software for asset-heavy groups.

I'm building tools for mid-market groups that run a lot of entities — renewables platforms, shipping, aircraft leasing, real estate. Two problems in particular.

Covenants and lender obligations. A facility agreement carries financial covenants tested every period, and behind them a long tail of obligations that aren't financial at all: compliance certificates, budget and model submissions, insurance evidence, reserve account levels, lock-up and cash sweep triggers, consents and conditions subsequent. They live in a PDF, a spreadsheet, and somebody's memory. Headroom gets calculated late, and a missed reporting deadline is a technical default nobody saw coming.

Treasury and accounting disagreeing about the same debt. The treasurer's view of a facility — headroom, hedge cover, rate sensitivity — and the accountant's view of the same instrument — effective interest, amortisation, disclosure — are built separately and never quite reconcile. Closing the gap is manual, and it happens under reporting deadlines.

The ERP helps with neither.

Aselta is early. Right now I'm talking to finance leaders in these sectors about how this gets handled today: what's actually in the spreadsheets, what breaks at quarter-end, and what a better answer would have to do. If that's a problem you recognise, I'd value a conversation — there's nothing to buy.

David Bates, Founder
david.bates@aselta.co.uk