Startup Financial Model

Smart decision-making tool at your fingertips. Trusted by 300+ startups and Tier-1 investors globally.

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Your turn-key financial model builder

Reliable startup financial projections that translate your product and go-to-market strategies into the language of finance.

300+

models built

$505М+

in capital raised

7-day

turnover

You need Startup Financial Modeling for:

Testing business model and growth frameworks
Planning for scalability
Raising capital & understanding how much money you need
Valuing your business
Making smart calls
driven by hard data
Detecting potential money issues and proactively solving them

6 mistakes you have (probably) made
in your startup financial plan

Claiming you will be the next unicorn

Projecting early profitability

Neglecting operational metrics

Overlooking cash and burn rate

Building overcomplicated models

Not validating your assumptions

We empower founders
to make better decisions

Comprehensive financial forecasting for startups

Flexible and comprehensive startup financial planning—from customer acquisition to monetization and associated costs.

100% defendable numbers

Forecast benchmarked against the industry and competition to fully match investor expectations and win financial due-diligence.

Expert support and guidance

Step-by-step guidance on the financial model logic, assumptions and outputs to help you build and defend a compelling business case. 

How it works

Discovery

Share your inputs, fill in the questionnaire and join the kick-off call with the Waveup team.

Creation

We build a flexible, comprehensive financial forecast employing industry best practices.

Delivery

We guide you through the completed investor-ready model, metrics and expected industry benchmarks.

What’s inside your financial model

Historical data

Customer acquisition

Revenue forecast

Cost of revenue

Operating expenses

Personnel

Financial statements

Dashboard

Valuation

You’re in a good company

We completed over 300 financial modeling projects that helped fuel strategic decisions for fast-scaling startups, Fortune 500 companies, and established funds

Frequently
asked questions

How to build a financial model for a startup?

In a nutshell, there are five questions you must answer for building financial analysis for startups:

What is the goal? Understanding what you need to use your model for determines how you should structure your model, what metrics you include, and the timeframe. For example, a model designed to appeal to investors will look different from one that will help you manage your cashflow or calculate the cost of your growth initiatives

What are my key metrics? The answer will depend on the goal for your model, your business model, and your industry. Some metrics like revenue, CAPEX and OPEX are non-negotiable. Other metrics, like MRR, unit economics, Sales efficiency, or retention might be unique to your business model or industry.

What are my revenue projections? A good model answers this question by estimating future sales based on market research, realistic assumptions, and/or past traction.

What is my cost structure? Detail fixed and variable costs, including salaries, rent, marketing, and production costs.

What are the potential scenarios? Create different scenarios (best case, worst case) to understand potential effect on your revenue and cash flow.

What to factor in a financial model for a SaaS startup?

Ultimately, many of the same rules apply to SaaS financial models as to any other industry, except for a few things:
1. Saas Metrics:
– MRR and ARR breakdown (new / lost / expansion / total revenue)
– Retention metrics (net revenue retention, gross revenue retention)
– Unit economics (CAC, LTV, CAC payback)
– Sales efficiency (SaaS magic number)
– Churn rate and plan downgrade rate
– Net revenue retention (NRR)
2. Revenue boosters: Include upsells, cross-sells, and add-ons
3. Subscription tiers

How to make financial projections for a startup?

There are three pillars of financial projections for startups:

1. Ensure your strategy and numbers are closely aligned. Your customer acquisition strategy, business model, and growth goals define your financial projections, not the other way arounds. Make sure there are no discrepancies.

2. Include all incurring and future expenses. A well-devised financial analysis for startups must provide a detailed breakdown of all the costs involved in creating, operating, and scaling your business. Include CAPEX and OPEX, both current and within the next 3-5 years, pushing off of your strategy.

3. Feature the most relevant metrics. Ensure that in addition to revenue growth rate and margins, you also must highlight metrics characteristic to your business model and industry.

How long does it take to develop a startup financial model?

Typically, constructing a fully operational and flexible startup financial model framework takes up to a week, once we have all the necessary client information and assumptions. Bear in mind, additional revisions could extend this timeframe.


What if I am unsure about my numbers/assumptions?

We will help you fill in the blanks and guide you through the things the investors might expect as well as what we typically see in the market for similar businesses. All the data points used in the startup’s financial model will be benchmarked and adjusted based on industry ratios, competitor data, and investor expectations.

I don’t have any finance knowledge. Will I be able to work with this model?

Absolutely. We build our models with usability in mind so even founders with zero finance / Excel knowledge can easily edit them. You can quickly adjust any assumptions and see immediate changes in your forecast. We will also guide you through the model structure upon completion and explain how all model sheets interact.

I don’t know how much I need to raise. Will this model help me?

Absolutely. Based on your assumptions you will see the cash flow need for the next 12-18 months and onwards.

How can I make sure my model will match investor expectations?

Our models have a proven track record of successfully securing funding from top-tier VC and PE funds worldwide, praised for their usability and logical clarity. Over the past few years, we’ve assisted startups in raising over $250M+ in funding. Every sheet, line, and assumption is grounded in hundreds of hours of dialogue with various investors worldwide.

Will I get help in pitching this model?

You will get all the necessary guidance to help you pitch the model to investors. If needed, we can also attend the investor calls for a separate hourly fee to help you pitch the numbers.

Will you help me estimate marketing expenses?

We will collect the needed industry-specific data, including conversion rates, channel cost metrics and typical expenditure levels to accurately estimate the required marketing budget based on your revenue expectations.

Ready to talk? Get in touch with our experts

One of our unique advantages lies in our constant exposure to the new & emerging industries and sectors, thus giving us an unparalleled expertise in the areas of innovative business models, disruptive technologies and latest industry trends.

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