Showing 18 of 18 case studies
Manufacturing
Markup is not margin, and the cash runs out in the gap
Two mistakes in a textiles maker's numbers, found before an investor could find them.
Streaming
The cloud bill charges for hours streamed, not hours watched
How one cost question changed a streaming start-up's unit economics.
Software
When your best number is too good to believe
A Series B company, a churn rate nobody trusted, and investors counting the wrong thing.
Healthcare
Your content library is an asset, so model it like one
One accounting choice that changed how a medical AI start-up looked to investors.
Ag-tech
Value your company like what it is, not what it looks like
Why a pre-revenue ag-tech valuation dropped its medical comparisons, and why lower was stronger.
Fintech
Before you model a payments business, draw who pays whom
A payments start-up with a one-tab model and a deck of screenshots, rebuilt from a map of who pays whom.
Deep tech
Build a model that can change when the business does
A year as a hardware company's part-time CFO, and the partnership that changed the model halfway.
Marketplace
On a small sale, the payment fee can eat your whole cut
A live-video marketplace's commission vanished into card and app store fees. Here's the fix.
Mining
Keep one base model, and treat every pitch version as a copy
A trading group's story kept changing. One base model stopped its numbers from disagreeing.
Fintech
Your model only works if the tabs talk to each other
A seed lending model had every tab investors expect. The tabs just didn't read from each other.
Property
Check the fund model before the lawyer does
Four fixes to a holiday-rental fund's model, made before it went to legal review.
Fintech
Count the advances that don't come back before investors do
An early-wage-pay start-up's model left out bad debt by tenure and the cost of compliance.
Energy
When the returns look too good, check the model first
A fuels project's model showed an IRR above 45%. We found 20 issues before lenders did.
Credit
The fund model that lent money the fund never raised
A $100M credit fund's model passed every cash check but lent more than the fund raised.
Energy
Your data room should give one answer to each question
A 436-document data room that disagreed with itself, and how we settled every conflict.
Security
A hiring plan that waits for the sales to arrive
A model hired on fixed dates. We tied 51 roles to bookings so the low case still works.
Travel
Your market size has to survive an investor's own maths
A travel start-up's market size had a filler figure and a double count. We rebuilt it from one trip.
Waste
Two decks for one grant, and one story behind both
A grant needed a confidential deck and a public one. We kept both telling the same story.