Virtual CFO
Fundraising financial models
A fundraising model built for a company operating across the EU stands up to an investor's questions because every assumption behind it, market by market, ties back to your actual entity-level history in euros rather than a top-down growth number applied evenly.
13-week cash forecast
Illustrative client · August 2026
EUR
- Cash today
- €244,220
- Lowest week ahead
- 239,800
- Largest outflow
- Payroll, 46,300
Illustrative. An example of the document, not a client's figures.
Where investor scrutiny actually lands
An investor rarely dwells on the model's bottom line. They dwell on the assumptions feeding it: the pace of expansion into a new member state, the acquisition cost in a market where paid channels behave differently, whether the plan survives a slower quarter. A model built to be pulled apart, rather than just presented, wins that conversation.
The three statements, by entity and consolidated
We build a full profit and loss, balance sheet and cash flow forecast, driven by assumptions you control: hiring by entity, pricing by market, churn where relevant. Twelve to twenty-four months of actuals from Xero, QuickBooks Online or Exact ground the forecast in what has actually happened, entity by entity, before rolling up to one euro consolidation.
Tying the raise to a use of funds
The model connects the amount you are raising to a specific plan, whether that is a launch in a new member state, inventory, headcount or a capital purchase, and includes a sensitivity view on whichever one or two assumptions are most likely to draw a hard question, such as a slower ramp in an unfamiliar market.
One build, several audiences
The same underlying model serves an equity conversation or a debt one; the outputs a lender wants differ from what an equity investor focuses on, and we adjust for the audience while keeping the entity-level detail intact underneath. This connects to investor reporting once the round closes and a recurring update becomes part of the relationship.
Questions
Frequently asked questions: Fundraising financial models
Does the model handle a raise that spans more than one entity?
Yes. We build a consolidated euro model with each entity's numbers visible underneath, since investors typically want to see both levels.
How long does a build usually take?
A few weeks from kickoff, depending on how quickly historical data across entities and the growth assumptions come together.
Do you build the pitch deck itself?
We build the model and the numbers behind the deck. Deck design and the wider narrative usually sit with you or a separate adviser.
What if history is thin in a newer entity?
We use what exists and are direct with investors about which parts of the model lean on assumptions rather than actuals in that entity.
Do investors typically push back on assumptions in a model like this?
Yes, and we build the model with assumptions documented and defensible individually, so a challenge on one line does not undermine the whole model in front of an investor asking hard questions. We would rather stress-test an assumption ourselves than have an investor find the gap first.
Will you help us defend the model to investors?
We build the model to withstand scrutiny and can walk you through the assumptions before a raise, though we are not a party to your investor conversations.
How far back does the historical data need to go?
As far back as clean records exist. Most models use 12 to 24 months of actuals as the base for the forward assumptions.
Can the same model support a debt raise instead of equity?
Yes. The model logic is the same; the assumptions and the output a lender wants differ from what an equity investor wants, and we build to the audience.
What if our records for fundraising financial models are not up to date?
If your records are behind, we scope a catch-up first so fundraising financial models starts from a clean, reconciled base. That catch-up is priced and timed separately from the ongoing engagement, so you always know what each part costs.
Related services
- Virtual CFOInvestor reportingA recurring investor update built from your actual numbers: the metrics investors expect, delivered on a schedule you can rely on.
- Virtual CFO13-week cash flow forecastA rolling week-by-week cash forecast that shows what is coming in, what is going out, and where the next 13 weeks get tight.
- Virtual CFOPricing and unit economicsA clear read on what each customer, order or unit actually costs and earns, so pricing decisions are based on margin rather than a guess.
Industries
Next step
Talk to the team that would run your books
A short call covers your setup, your software and what a first month would look like. You get a written scope and price after it.