BUILD THE SOUND FOUNDATION, GROW WITH CONFIDENCE!
Get our CFO support and scale.
At FinburgH we build the bridge from chaos in numbers to clarity in value.
At FinburgH we build the bridge from chaos in numbers to clarity in value.
We build the bridge from chaos in numbers to clarity in value
In year one, the spreadsheet was enough. In year two, the accountant handled tax and filings. Now your revenue is €2–30M per year and growing, payroll is heavier, investors ask sharper questions, and the Board wants monthly numbers.
Suddenly, you need answers:
- What is the real runway?
- What is the burn?
- Where is margin leaking?
- When can the next hires be afforded?
- What happens if fundraising takes three months longer?
- Are the investor numbers actually reliable?
- How to automate the model updates with numbers from ERP?
This is the moment finance has to change.
Our firm acts as an embedded CFO layer inside €2–30M startup, we are not ordinary consultants with fluffy advice – we become part of your team and grow your Tech business together.
We leverage AI solutions and our 20+ CFO experience, follow industry standards of ACCA/ CFA/ FMVA methodology.
For VCs, it means an added safeguard inside portfolio companies with regular reporting, earlier warning signs, stronger budget discipline, cleaner forecasts, and more reliable preparation for fundraising with investment-grade financial models (we use bottom-up approach a lot) or M&A deals.
For founders, that means knowing how much runway is really left, what is the best scaling path to the next round, where is margin leaking, can the next hires be afforded, which growth is profitable.
For VCs, it means an added safeguard inside portfolio companies with regular reporting, earlier warning signs, stronger budget discipline, cleaner forecasts, and more reliable preparation for fundraising with investment-grade financial models (we use bottom-up approach a lot) or M&A deals.
For founders, that means knowing how much runway is really left, what is the best scaling path to the next round, where is margin leaking, can the next hires be afforded, which growth is profitable.
When teams bring us in?
It might look normal until a certain point but then you start loosing money -
cash becomes tight & profitability decreases
It might look normal until a certain point but then you start loosing money -
cash becomes tight & profitability decreases
- You are growing, but feel losing control of cash and margin
- Revenue grows but profitability is falling and no one can tell you why
- You have an accounting/tax consultant, but still cannot get clarity about the numbers
- You make decisions based on gut feelings
- You want a strategic thinking support
- You do not know what products or business areas bring you most profit
- You are not sure what return on marketing campaigns you get
- You have to deal with Google Sheets or Excel files instead of focusing on business strategy/ team/ product development
Some of our cases
Get a full control in your capital conversations. We are here to translate your vision into numbers and speak the same language with your potential investors.
We built over 50 complex financial models for AI and cleantech companies across Europe and USA up to investment-grade standards, including: 3-Statement Model, DCF, M&A, LBO, project models, and other.
We calculate project economics, so you can clearly understand your key parameters, monitor their dynamics, and manage them effectively.
We design not only top-down valuation models but also complex bottom-up dynamic financial models that become a copilot for your business operations, helping you identify the right mix of products and sales channels to maximize and stabilize profits.
We are here to help you scale – we also provide CFO services for selected companies.
We are Milan-based. Europe-focused. Supporting startups across Italy, Switzerland, Germany, France, and Spain.
We built over 50 complex financial models for AI and cleantech companies across Europe and USA up to investment-grade standards, including: 3-Statement Model, DCF, M&A, LBO, project models, and other.
We calculate project economics, so you can clearly understand your key parameters, monitor their dynamics, and manage them effectively.
We design not only top-down valuation models but also complex bottom-up dynamic financial models that become a copilot for your business operations, helping you identify the right mix of products and sales channels to maximize and stabilize profits.
We are here to help you scale – we also provide CFO services for selected companies.
We are Milan-based. Europe-focused. Supporting startups across Italy, Switzerland, Germany, France, and Spain.
AI/ SaaS Logistics Platform for Cargo -Drone Operations, Germany | Financial Model & Valuation
Founder-led AI SaaS logistics platform for autonomous drone operations combining proprietary flight-control software, in-house R&D and production needed an investor-grade financial architecture to support fundraising and scaling.
What was wrong before: An internal model existed but lacked integrity across revenues, R&D, production, and logistics operations. It did not include valuation logic, WACC, ARR and churn metrics, or unit-economics analysis by route. Forecasts were difficult to reconcile with ERP accounting numbers, and maintaining consistent versions in the dataroom became increasingly difficult as investor questions grew.
What we delivered: A fully integrated model covering ARR build-up, churn, CAC/LTV, route-level unit economics, and scenario analysis for commercialization. R&D spending was structured with capitalization under IAS 38 (IFRS), and the model included valuation, WACC, and sensitivity of valuation to growth, margin, and risk assumptions.
Outcome: The founder moved from defending spreadsheets to controlling the narrative with faster Q&A, clean dataroom management, and a model that stayed current as accounting data updated. As a result, they unlocked PE financing.
What was wrong before: An internal model existed but lacked integrity across revenues, R&D, production, and logistics operations. It did not include valuation logic, WACC, ARR and churn metrics, or unit-economics analysis by route. Forecasts were difficult to reconcile with ERP accounting numbers, and maintaining consistent versions in the dataroom became increasingly difficult as investor questions grew.
What we delivered: A fully integrated model covering ARR build-up, churn, CAC/LTV, route-level unit economics, and scenario analysis for commercialization. R&D spending was structured with capitalization under IAS 38 (IFRS), and the model included valuation, WACC, and sensitivity of valuation to growth, margin, and risk assumptions.
Outcome: The founder moved from defending spreadsheets to controlling the narrative with faster Q&A, clean dataroom management, and a model that stayed current as accounting data updated. As a result, they unlocked PE financing.
AI/ SaaS Longevity MedTech Platform for preventive monitoring, Italy
Founder-led AI-based SaaS startup, needed CFO services to preserve their runway, establish ERP system and budgeting. We started with preparing a complete pack with several financial models for M&A, fundraising and subsequent operations in Europe.
What was wrong before: Only internal Excel files existed, built for operational use rather than institutional fundraising. They did not translate the business into core SaaS and MedTech metrics. They also could not support transaction work - no valuation logic, no merger mechanics, no post-merger integration view, and no dedicated fundraising model tied to use of proceeds.
What we delivered: Our model included cohort retention, CAC by each acquisition channel, LTV, payback period, recurring vs non-recurring revenue mix, gross margin by service layer, scaling efficiency by site type.
Outcome: The company moved from internal spreadsheets to a PE-grade capital-raising package that explained not just growth, but the quality of growth. The result was a model founders could defend, investors could diligence, and the company raised private equity capital.
What was wrong before: Only internal Excel files existed, built for operational use rather than institutional fundraising. They did not translate the business into core SaaS and MedTech metrics. They also could not support transaction work - no valuation logic, no merger mechanics, no post-merger integration view, and no dedicated fundraising model tied to use of proceeds.
What we delivered: Our model included cohort retention, CAC by each acquisition channel, LTV, payback period, recurring vs non-recurring revenue mix, gross margin by service layer, scaling efficiency by site type.
Outcome: The company moved from internal spreadsheets to a PE-grade capital-raising package that explained not just growth, but the quality of growth. The result was a model founders could defend, investors could diligence, and the company raised private equity capital.
AI/ SaaS EdTech, Italy | AI-based Career Development Platform | Financial Model & Fundraising Pack
Founder-led AI EdTech platform focused on career development, skills mapping, and employability pathways needed an investor-grade financial model to support fundraising and scaling.
What was wrong before: Internal spreadsheets existed, but they did not translate the business into core SaaS and EdTech metrics. There was no clear logic for ARR build-up, churn, CAC by acquisition channel, or revenue split between recurring subscriptions and non-recurring services. The model also lacked valuation logic and a clear view of how commercialization pace affected runway and funding needs.
What we delivered: A fully integrated model covering ARR, churn, CAC/LTV, cohort retention, payback, gross margin by service layer, and unit economics by learner / enterprise client segment. We added scenario analysis for commercialization pace, cash runway, fundraising needs, and sensitivity of valuation to growth, margin, and risk assumptions.
Outcome: The founder moved from generic planning files to an investor-ready finance pack that made the growth story measurable, defensible, and easier to explain in fundraising discussions.
What was wrong before: Internal spreadsheets existed, but they did not translate the business into core SaaS and EdTech metrics. There was no clear logic for ARR build-up, churn, CAC by acquisition channel, or revenue split between recurring subscriptions and non-recurring services. The model also lacked valuation logic and a clear view of how commercialization pace affected runway and funding needs.
What we delivered: A fully integrated model covering ARR, churn, CAC/LTV, cohort retention, payback, gross margin by service layer, and unit economics by learner / enterprise client segment. We added scenario analysis for commercialization pace, cash runway, fundraising needs, and sensitivity of valuation to growth, margin, and risk assumptions.
Outcome: The founder moved from generic planning files to an investor-ready finance pack that made the growth story measurable, defensible, and easier to explain in fundraising discussions.
Biomethane | Multiple Plants | €25–30m per plant | Project Models, USA, Italy
Biomethane - biogas plants | Multiple Projects | €25–30m per plant. A biogas portfolio of several plants. The sponsor needed an investor-ready financial model that could scale correctly across projects, incorporate government incentives and debt financing, and support fundraising.
What was wrong before:
The existing model did not scale properly across plants, contained CAPEX discrepancies, and relied on weak operating drivers. It also lacked robust treatment of incentives, debt financing, tax calculations, SPV structure, and equity waterfall logic.
What we delivered:
A rebuilt integrated model covering plant-level assumptions, corrected CAPEX and operating drivers, incentive mechanics, debt structuring, tax calculations, SPV-level forecasting, and equity waterfall sections.
Outcome:
We delivered a bankable, investor-grade model that helped the sponsor secure investor funding. Two plants have already been built.
What was wrong before:
The existing model did not scale properly across plants, contained CAPEX discrepancies, and relied on weak operating drivers. It also lacked robust treatment of incentives, debt financing, tax calculations, SPV structure, and equity waterfall logic.
What we delivered:
A rebuilt integrated model covering plant-level assumptions, corrected CAPEX and operating drivers, incentive mechanics, debt structuring, tax calculations, SPV-level forecasting, and equity waterfall sections.
Outcome:
We delivered a bankable, investor-grade model that helped the sponsor secure investor funding. Two plants have already been built.
Solar PV, 40 MWp | Fundraising Models for a Founder-Led EPC in Italy, Cyprus, Bermuda
A late-stage greenfield solar PV project with a 20-year PPA/offtake, expected COD after financing, and a full data room including EPC, interconnection, independent engineering, and a lender term sheet needed an investor-ready model to assess bid value, debt sizing, and sponsor returns. The asset was structured as 25 MWdc / 20 MWac with a 30-year life and production cases built around P50 / P75 / P90 energy yield.
What was wrong before:
Key commercial, technical, and financing inputs sat in separate workstreams. There was no integrated view of COD, PPA pricing, merchant tail, degradation, CAPEX build-up, DSRA, DSCR covenant headroom, or tax / depreciation treatment, which made it difficult to underwrite downside cases or size the capital stack with confidence.
What the sprint delivered:
An integrated solar project finance model covering MWdc / MWac sizing, PPA revenue, post-PPA pricing, production and degradation, EPC and interconnection costs, O&M, reserve accounts, debt sizing, taxes, levered and unlevered IRR, and sensitivity analysis across PPA price, production, capital costs, and financing terms. Outputs included sources & uses, cash flow, covenant testing, and lender / investor-ready charts.
Outcome:
We delivered a bankable underwriting model that allowed the sponsor to test leverage, benchmark returns against hurdle-rate and lender thresholds, and move into a investment decision with a clear view of the project’s risk and return profile.
What was wrong before:
Key commercial, technical, and financing inputs sat in separate workstreams. There was no integrated view of COD, PPA pricing, merchant tail, degradation, CAPEX build-up, DSRA, DSCR covenant headroom, or tax / depreciation treatment, which made it difficult to underwrite downside cases or size the capital stack with confidence.
What the sprint delivered:
An integrated solar project finance model covering MWdc / MWac sizing, PPA revenue, post-PPA pricing, production and degradation, EPC and interconnection costs, O&M, reserve accounts, debt sizing, taxes, levered and unlevered IRR, and sensitivity analysis across PPA price, production, capital costs, and financing terms. Outputs included sources & uses, cash flow, covenant testing, and lender / investor-ready charts.
Outcome:
We delivered a bankable underwriting model that allowed the sponsor to test leverage, benchmark returns against hurdle-rate and lender thresholds, and move into a investment decision with a clear view of the project’s risk and return profile.
BESS, Switzerland | Investor-Ready Model
Small EPC and O&M team evaluating its first serious storage growth move. The team needed a model that could compare merchant, floor, and contracted revenue cases.
What was wrong before:
The existing file had rough revenue assumptions but no serious treatment of degradation, augmentation, availability, reserve accounts, or funding structure.
What the sprint delivered:
A scenario-based BESS model with revenue cases, up&downside sensitivities, funding logic, and lender PE investor outputs.
Outcome:
The sponsor ruled out a weaker commercial path early, focused on the more defensible structure, and used the model to frame discussions with financing and revenue counterparties.
What was wrong before:
The existing file had rough revenue assumptions but no serious treatment of degradation, augmentation, availability, reserve accounts, or funding structure.
What the sprint delivered:
A scenario-based BESS model with revenue cases, up&downside sensitivities, funding logic, and lender PE investor outputs.
Outcome:
The sponsor ruled out a weaker commercial path early, focused on the more defensible structure, and used the model to frame discussions with financing and revenue counterparties.
Wind Power, Bermuda, Italy | Fundraising model
Small private wind opportunity with founder-led sponsorship. The team needed to test whether the project economics still worked after FX, logistics, insurance, and downside assumptions.
What was wrong before:
The initial model was too optimistic and did not properly account for import exposure, contingency, downtime risk, or covenant stress.
What the sprint delivered:
A fundraising model with FX sensitivities, downside cases, sponsor funding logic, and clear outputs for investor discussion.
Outcome:
The sponsor adjusted capital structure assumptions before approaching investors and avoided taking an under-defended case to market.
What was wrong before:
The initial model was too optimistic and did not properly account for import exposure, contingency, downtime risk, or covenant stress.
What the sprint delivered:
A fundraising model with FX sensitivities, downside cases, sponsor funding logic, and clear outputs for investor discussion.
Outcome:
The sponsor adjusted capital structure assumptions before approaching investors and avoided taking an under-defended case to market.
Plant in recycling of composites, Switzerland. Integrated bottom-up operational & fundraising model
Founder-led, a Swiss company in recycling of composites, needed a detailed bottom-up operating model for its MVP plant and a scalable template for next plants in Europe. A critical part of the work was modeling three revenue streams in one coherent structure: recycling income, thermolysis oil sales, and reclaimed fiber sales to downstream manufacturing customers in sectors such as boating and automotive.
What was wrong before:
The existing economics were too high-level for fundraising and did not fully capture plant-level operating drivers, output yields, or the interaction between recycling revenues and downstream product sales.
What was delivered:
A detailed bottom-up operational and financial model for the current plant, built to scale across future facilities. The model integrated throughput, recovery yields, OPEX, CAPEX, three revenue streams, and investor-ready outputs for management and fundraising use.
Outcome:
A clear investor-grade model that the founder used to raise the financing needed, while also creating a reusable modeling framework for the European rollout.
What was wrong before:
The existing economics were too high-level for fundraising and did not fully capture plant-level operating drivers, output yields, or the interaction between recycling revenues and downstream product sales.
What was delivered:
A detailed bottom-up operational and financial model for the current plant, built to scale across future facilities. The model integrated throughput, recovery yields, OPEX, CAPEX, three revenue streams, and investor-ready outputs for management and fundraising use.
Outcome:
A clear investor-grade model that the founder used to raise the financing needed, while also creating a reusable modeling framework for the European rollout.
Six months of fractional CFO support should make one thing clear - your company is no longer guessing
What changes in 6 months?
(the listed results depend on the targeted scope of work)
- In six months, your startup should no longer be running finance from founder memory, accountant emails, and disconnected spreadsheets
- The founder feels prepared for a new round, can answer Q&A with confidence, sees cash, burn, runway, margin, hiring capacity
- The VC sees financial discipline, capital efficiency, forecast quality, risk visibility, and a Board-ready finance rhythm
(the listed results depend on the targeted scope of work)
Choose the CFO services pack that is right for you
Pack (all materials are to be delivered customized)
BASIC €2,500/month, 3 months initial program
SCALE €3,900/month, 6 months initial program
PRO €6,900/month, 6 months initial program
Financial strategy elaboration
Cash and runway control
Cash and runway optimization
Budget vs actuals analysis
13-Week Cash Flow rolling-forward analysis
Financial model (basic)
KPI dashboard with your industry benchmarks
Board & Investor monthly reporting pack
Compensation & hiring plan
Customized Strategy Pack (GTM strategy, monetization/pricing strategy, OKR)
1 non-recurring event per 6 months, like
✅ERP finance architecture design/ chart of accounts for QuickBooks/Odoo/MS 365; or
✅Fundraising pack, including investment-grade financial model, one-pager, pitch decks, mock Q&A; or
✅ M&A due diligence support;
✅ Investor negotiations; etc.
✅ERP finance architecture design/ chart of accounts for QuickBooks/Odoo/MS 365; or
✅Fundraising pack, including investment-grade financial model, one-pager, pitch decks, mock Q&A; or
✅ M&A due diligence support;
✅ Investor negotiations; etc.
Monthly call with your CFO
Twice a month call with your CFO
Weekly call with your CFO
Best for those who are looking for key insights;
€2-5M annual revenue
€2-5M annual revenue
Best for those who would like to rely on a finance expert to scale;
€6 -15M annual revenue
€6 -15M annual revenue
Best for those who would like to grow with a finance leader but not ready to hire a six-digit permanent position;
€15 - 30M annual revenue
€15 - 30M annual revenue
You do not want to look underprepared when investors, lenders, or partners start digging into the numbers.
Get in touch!
Get in touch!
Still hesitant? Check FinburgH CEO's page!
Get in touch!
Get in touch!