Virtual CFO
Fundraising financial models
A financial model for a Hong Kong company raising capital: historical actuals, a growth-driven forecast, and the assumptions an investor at Cyberport, HKSTP or a private fund will want to pressure-test, built in a format they can open and check themselves.
13-week cash forecast
Illustrative client · August 2026
HKD
- Cash today
- HK$244,220
- Lowest week ahead
- 239,800
- Largest outflow
- Payroll, 46,300
Illustrative. An example of the document, not a client's figures.
A model built for Hong Kong's own investor base
A Hong Kong startup raising money is often talking to more than one kind of backer at once: a Cyberport or Hong Kong Science and Technology Parks Corporation (HKSTP) incubation programme, a private angel or venture fund, or a parent company overseas. Each reads a model differently, but all of them will ask the same underlying question: does the historical trend in the actual books support the forecast being pitched. A model built on optimistic assumptions rather than real Xero, QuickBooks Online or Zoho Books data gets found out in the first serious diligence call.
What the model contains
We build a three-statement model, profit and loss, balance sheet and cash flow, driven by assumptions rather than a single formula, with historical actuals tied directly to your books rather than estimated after the fact. Use of funds is broken out against the raise amount, and a sensitivity view shows what happens to runway and margin if a key assumption, such as customer acquisition cost or a Mainland market's growth rate, comes in lower than planned. Grant funding already received from Cyberport, HKSTP or InvestHK is shown separately from trading revenue, since investors will want to see organic performance on its own.
Where Hong Kong's tax position fits in
The model reflects Hong Kong's territorial profits tax basis and the two-tier rate structure where the company is already profitable, so projected tax provisions do not distort the cash runway an investor sees. It does not make the legal call on what income qualifies as offshore; that determination sits with your tax adviser.
A model investors can test themselves
The file is built in a format your prospective investors can open and stress-test on their own, not a locked deck, because a model that only survives one presentation does not survive diligence.
Questions
Frequently asked questions: Fundraising financial models
Can the model reflect grant funding from Cyberport or HKSTP separately from revenue?
Yes. Grant proceeds are shown as their own line, separate from trading revenue, so investors can see organic growth on its own.
Does the model account for Hong Kong's two-tier profits tax?
Where the company is already profitable, the model reflects the 8.25 per cent and 16.5 per cent tiers so projected tax does not distort the cash runway shown to investors.
Does the model reflect Hong Kong's territorial profits tax basis?
Yes, once the company is profitable, so projected tax provisions do not distort the cash runway shown to investors.
Can the model separate Hong Kong revenue from Mainland or overseas revenue?
Yes, where your chart of accounts or class tracking supports the split, which matters for a Hong Kong company trading across more than one market.
How long does building a fundraising model usually take?
A couple of weeks once historical actuals and the growth assumptions are agreed with you, followed by a review round or two as investor questions come back and the model needs to answer them directly.
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.