Professional Cap Table Model

$359

Impress existing and potential investors with control of the ownership structure of your startup.

  • Only advanced template on the internet
  • 28,552 formulas across 23 sheets to do all the complex math for you
  • Lifetime updates
  • An integrated model to automate away work
  • Support and customisation
  • Hours of video education
  • Money back guarantee
Best seller
680 Happy customers
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Highly rated

Intro

Quick Overview

Tl;dr: Cap table to track equity ownership in your startup.

Understanding the effect of multiple funding rounds can get really, really complicated! I could only find simple, free tools online so I made something that could do everything, and now investors, lawyers and financial advisors use it themselves

The model is designed for you to start using at your first round with a convertible note, then to grow with you all the way up to your Series-I round so you don’t need to keep paying a lawyer to build out the model for you to save thousands of Dollars

This powerful model will enable you to evaluate the effect of future fundraises and through waterfall analysis see the returns to investors, founders, and your employees

  • Track from the angel stage all the way up to a Series-I (more than 10 rounds if you do convertible notes).
  • Include your ESOP, common, preferences, convertible notes, and warrants.
  • Undertake return analysis to see the potential returns to each individual on exit opportunities.

Venture Capital Investors Care About Your Ownership

Equity ownership is not only important for aligning incentives between founders and investors, but crucially it drives alignment across the entire organization.

Luciana Lixandru, Sequoia Partner

Quick images

Have a Quick Look At Some of the Sheets

99 Problems, Your Cap Table Shouldn’t Be One

No progress

Tired of Not Being Able to Manage the Ownership Structure of Your Startup in Detail?

We’ve all been there: that feeling of knowing you need to know what your cap structure is, but being caught in an endless cycle of not being able to build your own, but wanting to avoid legal fees. It happens to the best of us. But this isn’t a hopeless situation: you just haven’t found the right tool for your business.

Confusion

Sick of Not Feeling Confident When Staff or Investors Ask About Ownership?

Imagine what it would be like to know that the math and calculations worked, so you could share with your stakeholders. How confident would you feel?

tools for the job

The Problem Lies in Not Having the Right Tool

In order to understand the status of ownership (let alone forecast rounds), you need to know how to. You need to be able to consider what matters now and what you’ll need to think about for the future. You have a gap between what you want and what you are capable of. to It’s time to have a model that will help you succeed

50folds venture builder

Goals

It’s Worth Owning One Thing That’s Perfect

Years of work have been committed to creating a model that is truly impressive and helpful

Impress Even the Most Sophisticated Investors

The bar to raise money is so high because of information asymmetry since they don’t know how awesome anyone is- they need to see it for themselves. You could take the risk and spend months making a model and wishing for the best.

That’s what most people do and it doesn’t statistically work out well. Alternatively, go to bat with the best model that they have ever seen and position yourself as an expert.

100x Your Ability to Just Get Things Done

Whether you are just starting up, or you have scaled up, the one thing that is true is you don’t know everything! I’ve critically analysed your needs to ensure that functionality is built in.

Whether it’s pro-rata, or returns analysis, you’ll have more than an MBA to play with. It will grow with you and be a basis to continually implement as your needs become more complex.

Experience Instant Joy By Saving Months of Work

The clients who send me emails with the most love are the ones who are most capable because they understand the value.

There are few people in the world capable of making a model like this, and only one who has. You can spend $100k and still get something for a fraction of the quality of this model.

Reduce the Failure of Your Startup

Too many startups fail because founders aren’t even aware of what they should be aware of.

To grow you need to understand the effects of funding rounds and economic terms in deals. It will be on your side for years to come to navigate whatever is thrown at you.

Testimonial

Founders Have Been Benefiting from This Cap Table Model for Years

Hameed Hussain

Co-Founder & CEO of Tripsymphony
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Loved the cap table, saved me a fortune from getting a professional finance person doing this for us. Thank you for all the great stuff you have put together for startups.

Clay Nolan

President of CoLabs
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I am so thankful for the cap table template you created. Between convertible notes, SAFE loans and a two tranche series A, I would of been using my daughters abacus in attempts figure it all out. Couldn't be more grateful for your work and knowledge. Godspeed!

Dmitri Kudryavtsev

Owner and Principal of Lifeprofi Group
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I'm your fan from that day I've discovered your captable video review and excel book. If it wasn't for your service, I would have spent a lot more time on this.

Jeffrey Lyons

Operating Director of City Capital Advisors
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I'm using your Pro Cap Table Model for a client project and it is the best modeling template I have found on the market.

Kat Orekhova

Product Lead of Ironclad
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I started building my own cap table calculator, then googled to see whether somebody else had done it. Came across your website and love what you've done there. Thanks!

Leon Lim

Chairman of Puffin Builder
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Useful stuff. I actually created one [cap table] myself, but seriously, should have just used yours if i'd known earlier -.-

Lisa Patrick

COO of Sito Mobile
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Hi - loved your cap table! Will use it when I start on ours. Thank so much for helping out your followers.

Maceo Jourdan

Co-Founder of Canexxia
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I'm loving your spreadsheets.  I just freaked out our transaction attorney when I churned out a cap table in the proverbial 15 seconds. I love making those guys spit coffee on their $6000 loafers... ahhhh it's the small things in life.

Ramesh Gopal

Founder of Quadcore Consulting Services
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Honestly, [the cap table] is awesome in terms of detal and scope. Many thanks for sharing.

Bill Baumgart

Executive Producer at RedRoar
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We are now using both the Cap Table now and the SaaS Financial Model we purchased, and both are AMAZING!!!!

Scott de Rozic

Founder of Midas Brands
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You are definitely the man. Your logic is exceptional.

Rob Wolford

Managing Director of Hollencrest Capital Management
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I just want to learn as much as I can about structures, cap tables and subtle - but important - nuances like participating vs non participating preferred, etc.
I can’t figure out how you operate because you offer soooooooooooo much incredible content that appears to be free without baiting & switching me or spamming the shit out of me.  How refreshing!

Andrew Hagen

Managing Director of Lumen Living
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Hey Alex – I love your stuff and find it amazingly useful and sometimes overwhelming. I feel like there is so much stuff, I don’t know where to focus. Each day there is new shiny stuff to look at and play with.
You are a legend and deserve a whole bunch of kudos for helping the startup world be better.

Mohamed Elkholy

Co-Founder / CEO of MeInOne
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I would like to thank you for the body of knowledge and your effort recording videos and blogging and advising.
I have read 1400 books in the last 10 years few of them were startup related. None of them came close to the short concise advice you share you YouTube and the blog.
Again thank you for the lessons and everything.

Anonymised

COO of Dept. at Big Bank
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I can't even understand your calculator enough to give you feedback. You are awesome for sharing it though..

Eric Lloyd Tchouto

Senior Consultant at Rennie
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I truly appreciate your work and efforts.
Your explanations are really good and the resources remarkable. Thank you so much that you actually democratise knowledge by providing access to hidden assets.

Henrik Holm

Co-Founder of Biotrino
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Big Thanks for the material and tutorials!
It turned out to be a bit ""shooting small birds with cannons"" (a danish saying) for our current need , but it was a nice way to learn the buzz words for this world - and to have the tools when/if we get further down the financing path.
I'm f.... bigtime impressed that you have done all this top quality work and offer it for free - not what you see or expect most from Americans :-)

Fully featured

Everything Built-in So it Works Out of the Box

Dashboard

Get the full picture of your ownership

See a round-by-round overview of who owns what by class of share on a fully diluted basis. A dedicated sheet enables you to present the returns to investors or staff at the current point in time.

Outputs are provided in tables and in charts.

Returns analysis

Analyse all returns to each class of investor

  • 546 rows of granular waterfall Analysis
  • Follow the conversion math for each and every round from series-I (as applicable) all the way down to convertible notes and common
  • Visualise when liquidation preferences are overcome so common gets paid!
  • Define an exit value range with a central value and increments to see 53 potential outcome scenarios and how they will affect the return profile of each round (with charts)
  • Decide whether to vest all unissued options and whether options will accelerate at acquisition with a 2 drop downs
  • Set an exit date to see the effect of an outcome on currently vested options and convertible notes

Individual return analysis

  • Select anyone on the cap table in a dropdown and instantly see their exact return profile
  • See returns with each class of stock they participated in across a range of values you can define to see all the possible outcome scenarios at exit
  • Zoom into the $ returns, the holding for each class of stock, and the total returns to all shareholders
fundraising support

Shareholders

Manage all your shareholders from one sheet

  • Input each and every investor in one sheet. Keep track of all key details regarding their investment and terms. This will serve to drive the entire model to ensure that the sheets serve as an index to have total consistency across the model
  • You can use this sheet to track emails, addresses, and make notes on the investor terms so you can keep on top of who has what without then digging into sheets
50folds acheive startup

Multiple Funding Rounds

Manage every round to exit

Every sheet, from common to preference series and warrants and options has its own sheet

  • You can do as many convertible notes as you want. Once you start doing priced rounds you can track more rounds that would be needed. There are unique sheets from series-A to Series I, to illustrate granular insights and total visibility.
  • All the ledgers present in the capitalization table sheet have a consistent format. You only need to pick their name from a drop-down list to add new staff/investors.
  • There are capitalization tables for common (the starting sheet) up to series-I. I made sure that you will be able to cover as many rounds as possible!
  • If you do a series-aa, no worries, it’s just another class of share. The model allows you to have 9 series of preference shares, on top of common types. That’s a lot!
50folds product

Automation

Automate away manual work so your plans can change

Plans change. What if you raise less, or you raise rounds of capital? No one wants to change all their assumptions to see what the impact is, right? Hell no! I’ve automated as much as possible so the model will flex to your assumptions.

fundraising support 3 run outreach process

Designed in Excel to Meet Your Exacting Needs

A fantastic model needs to work for you, not create more work. This model was built with your exacting needs in mind

Excel

  • Excel financial model
  • Built for PC and Mac
  • Not for Google Sheets

Unlocked

  • Entire model is editable by you
  • Nothing is locked or restricted

Integrated

  • Fully integrated model
  • Each sheet acts as a module connected to each other which updates immediately

Updates

  • The model is updated with new features
  • I’ll email you updates when they’re done

No modeling needed

  • Everything works out of the box
  • Just input your assumptions

Easy to maintain

  • Designed to be easy to update as needed
  • Add new rounds in a dedicated sheet
  • Add shareholders in a dedicated sheet

Support

  • If you’re really stuck, ping me an email or catch me if I’m online and I’ll help you figure out what to do for free
  • You can hire me per hour if you need a lot of help on whatever it is you need

Track funding

  • See the effect of liquidation preferences, plan rounds with pro-ratas

Exit analysis

  • See the potential returns to every class of shareholder across a range of values to understand exit opportunities

Video

Model Walkthroughs

Introduction

Building a Complex Financial Model is Near Impossible for Most, You’ll Learn How to Use Mine

Most people struggle to build a spreadsheet with a SUM function. Experienced modellers know their limitations too, and they’re not just limited to capability, but also time.

My models let you 80/20 on your basic needs sorted, but there’s the ability for you to go all out and forecast really complicated aspects of your business out of the box. I’ve done the work to meet your needs.

This video walkthrough will explain at a high-level everything in the model so you can understand the power that’s waiting for you.

How to fill in

Be Guided Through How to Use the Model for This Game Changing Tool

No one wants to invest in a tool that promises to make their life 100x better without some hand-holding in how to use it! Tools are only as good as you use them.

I made a video above to guide you through the Cap Table in 40 minutes.

I also added a little course for you to follow (read on blog or via emails)

See the course

Who made this model?

Alexander Jarvis

CEO & Founder

  • I’m the #1 seller of startup financial models in the world
  • Worked in M&A (Lazard Financial Institutions Group)
  • I intimately know startups and what VCs care about having done both for over 10 years
  • TEDx, Top Quora Writer, accelerator mentor, fund advisor etc
  • I made the first version of this model for my own $20m raise

About Alexander

Who can benefit

Who Can This Model Help Out a Tonne?

Building or investing in a startup is really hard. I’m an entrepreneur and I’ve been an investor full time so I understand the challenges everyone has. I blew years making these models because when I was a founder I struggled to make my own model so I decided to fix the problem for everyone so they didn’t hate their life as much. I launched my first model 7 years ago so I have a lot of experience with who has benefitted from them and it’s a lot of different types. I’ll explain how this model can help in your role.

The model makes things happen

You’re here because you have a need that just isn’t being solved, whether it is because of complexity, cost, or your lack of knowledge. But if you want to understand your business, raise money from investors, or just learn to get smarter to make more money, you’re in a safe place. Making an investment in this model is the first step to taking a huge weight off your shoulders and taking a tangible step to achieving your dreams. Buy now with the knowledge you have my knowledge resources and access to me to help you move forward.

Founders (CEO)

Founders (CEO)

I’m an entrepreneur. I’ve started and failed many times, but I’ve also scaled large companies. I have the benefit of being fricking good at making models in Excel which is why I decided to make these models for you. You have limited time and budget so if you are going to allocate time it needs to be worthwhile.

Idea stage

Whether you are a first-time founder, or you are two exits in and back on the horse, this model can help you. There are just so many things going on and you need to be able to focus. I’ve made a very logical model which asks you to provide assumptions for it all. Whilst this might on the face of it seem annoying, I keep being told how much it helps. You are forced to think about what matters and if you don’t have the data, go and get it on the way to PMF!

Seed

After you have hustled and found some success, you need to start sitting back and reflecting on what you’ve been doing and what you’re going to do next. More than just the need to grow, you need to do an exercise on how every aspect of your company is going to deliver on that from sales to marketing. The model will help you dive into details you ignored before and realize how they could kill you soon.

Series

Owning a model with firepower is incredible for startups that are scaling. You take your metrics seriously and need to deliver large growth. You don’t want to be messing about building functionality, you want to put in what you’ve been doing and see how that is going to play out in the future to hit your next big round.

Investor

Investor

Investors seem like they need to pretend like they have all the answers, but we know we don’t. The only way to know it all is to be learning all the time. For a small sum, you’ve got access to a master class to rocket your knowledge of business models. Whether you want to model an investment opportunity or just learn, I have you covered.

Angel

You don’t have the benefit of working at a large firm where you can call over the ‘expert’ and have everything explained. This model will help you to take data from startups and model yourself. Alternatively, it is one of the best ways for you to start deep-diving into something you only have a little knowledge of and boost it up.

VC

If you’re learning a new business model then understanding the economics is a foundational need. If you’re requiring a tool to evaluate startups yourself, why build your own when you can get better than what the startup has sent over?

Nerds

Nerds

The largest purchasers of my models are rich guys who love learning. They buy every single model that I ship because they know they are quality and even if they learn one key thing, it’s a no-brainer investment to them. If you haven’t made it yet, shouldn’t you learn from those that have things figured out already?

Understand how to model

Most people learn how to use Excel and some get courses on modeling. The commonality is that it’s great in theory, but not so much in practice. If you want to see what a great model looks like, how to structure logic, format, and everything else a nerd loves, welcome.

Learn what matters

Everything in my models has logic. Certain things are included, and some things you might think obviously need to includes are not. I can of course be wrong, but I thought about why. Learn with my logic so you can apply it to your own future work.

See how to calculate complicated metrics

My models are a masterclass in applying Excel to business problems. They work from the high level to the micro which is where the devil lies. You can see how every metric you may have read is actually coded in Excel. You can’t get this anywhere else.

Advisors

Advisors

Do you advise startups for a living? Do you frequently have to advise teams on complex issues and help them with their operations and fundraise? Many advisors licence my models to advise their clients and they even have me do the work for them and take the fees. My models can help

Ship financial solutions without the ability

My models work out of the box. They just need assumptions to feed them to create results. You can license my models and sell them on to your clients and look great whilst doing it

Answer client questions after analysis

Your clients can ask questions that you do not have the answer to, but that doesn’t have to be a problem. You can use my models and hire me to feed you the answers to the questions your clients have. Focus on what you are good at and leverage me as the expert behind the curtain.

Customise to meet needs

Whilst my models do 95% of what a startup needs out of the box, there are always edge cases that need to be added. Hire me to build what you need and make your client delighted with your ability to do anything.

FP&A

FP&A

At some point, companies need a financial model that can meet their needs. Whilst my models aren’t designed to deal with expenses, they meet your forecasting requirements by offering robust calculations to expand from.

Forecast in more detail

My models are not focused on the day-to-day and are focused on the future. In your job, there can be a disconnect.

Perform analysis

Once your data is in, my outputs churn all the KPIs and metrics you need instantly.

Customise to meet needs

Whilst my models do 95% of what a startup needs out of the box, there are always edge cases that need to be added. Hire me to build what you need and make your client delighted with your ability to do anything.

How this helps

The Cap Table Helps Multiple Needs

Whether you are a startup founder looking to fundraise, an investor needing to understand a forecast, a student looking to learn, or a CFO needing to understand the operations of your SaaS startup, this model will help.

Want to know a secret?

Your forecasts will be wrong. The questions investors will ask you are not to just hear specific numbers (Though that helps!).

What matters is that you understand your metrics and how your key levers impact them. My model will position you to ace any question and communicate you get it!

With a model like this, you will be able to create credibility with investors you are pitching that you are data-driven and on top of every aspect of your business.

Want to read more? Here is a blog on “Why you need a financial model to fundraise”.

Learn about models

50folds achievement

To run your startup properly, you need to understand your business numerically.

I had a client who is a bodybuilder and started a company so ‘big guys’ can wear comfortable shirts. He bootstrapped to $1.5m with hustle. But hustle only goes so far. For him to 10x he needed to finally understand what numbers mattered, and then what they were!

My model helped his team understand what they needed to know and what activities to focus on.

You can use the model to understand your goals to achieve them too.

50folds product

A client said to me “I think that most people buy your models because they want to learn“.

I told him I couldn’t believe how many clients were lawyers, advisors, investors, or executives.

All my premium and free models are nerdy and you can’t Google what is in them. They took months to make. This is not because I am slow, but because I put in the effort to help you be able to access tribal knowledge.

If you want to level up, this is your shortcut to understanding what matters and getting smarter so you can level up as an entrepreneur.

50folds venture builder

The earlier the stage of the company that you invest in, the less data you have to work with.

Financial models are BS, but they can tell you a lot if you know what to look for.

Why not have a logical model you can take founder inputs and apply your own assumptions to understand if your RoI works without having to make a model and all the complex formulas yourself?

Model features

All the Features You Need Are Built Under the Hood

An insightful and useful model needs to work for you, not against you.

My models do require thought on inputs, but there are 28,552 formulas across 23 sheets to support you in deriving all the outputs that you need without any coding.

See the features

Model sheets

There’s a Considered Architecture. I’ve Detailed All the Sheets

There are 23 sheets to empower you. I’ve mapped them out so you can check out what you’re about to get.

CHECK OUT THE SHEETS

Calculations

Support

Can I Get Support on This Model?

My models offer considerable scope to not only cover the basics but to do advanced things. You’ll want to ensure you have help to hand. I’m here to help you from start to end.

Email Questions

I love to help, especially if you’ve something tough to ask. Whether you think you found a bug, have ideas I should build in, or are confused about why I did something, you can email me and ask.

Onboarding and Education

Whether you are short of time and just need help to get your model done quickly, or you need help to figure out how best to explain a metric, I have your back. I offer hourly consulting to meet the most complicated questions or even the ones you’re embarrassed to ask someone else.

Model Customisation

Have a unique model and need to add functionality the model doesn’t offer out of the box? No worries. If you have the budget, I can build anything you need. Just explain it and I consult per hour.

Purchase

Cap Table Financial Model

Ideate, operate, scale, and fundraise in the world’s best Excel model which will help you take back control of your finances and drive you to the next level.

Included are two powerful return sheets to take your cap table model to a whole new level.

What’s inside

  • Most complete model on the internet
  • An integrated model to automate away work
  • Hours of video education
  • Lifetime updates
  • Support and customisation
  • Money back guarantee

pick your capability

2 Pricing Options

The Pro Cap Table is massive, and there are two compelling options. One has additional sheets for analysing returns to shareholders. and the other doesn’t. You can opt to downgrade to the model with less functionality if that meets your needs.

Limited Cap Table

No returns analysis

  • Lawyer quality capitalization table
  •  11k word course
  • NO Returns analysis
  • NO Individual return analysis

You can convert currencies

I’m in Israel, I Need to Show My Currency!

Having listened to founders’ needs for years, I know some founders don’t want to use Dollars. Cool. You can mash a button and turn your currencies can change to 17 other signs.

This model uses formatted currencies in $ (Why I use US Dollars). I often get asked if it is available in other currencies such as €? So I made an Excel PC to do that (It was hard!)

At the press of a button, you can now convert the model into 17 different currencies. You just need to purchase the productivity add-in.
Here are the currencies you can use with the macro.

Currency listThe format you will see
EUR
USD$
GBP£
YEN¥
INR
Kronekr
Pesokr
BRLR$
RMRM
HKDHK$
ILS
Learn about the Excel plugin

Let’s run through details and answer your FAQs

Want to Know More?

Details on the Model

The history of this model

Many startups ago… I built my first fundraising model. I had toiled for years in M&A so knew something about modeling, but man… what I built still wasn’t really useful and it distracted me from when I should have been executing, pushing sales, tracking my marketing KPIs etc. Darn.

Fast forward many years and I’ve learnt a thing or two. I’ve raised for myself and many others. But, there are still a lot of things that I didn’t understand. Cap tables were something that interested me. I looked around and the ones available on the internet were super simple. I made a free one that was better. Then I thought, why not spend some time and really build something epic? I could learn the details myself.

Fine. Let’s learn about cap tables. Over the course of 3 months, I made the only super cool cap table model in the world you can buy from first principles.

If you’re raising for your startup it’s just a fact that you need a cap table and an Excel model to do the math. Yes, you can spend $20k a year on Carta etc, but you should really understand the math and what is happening which you can’t do with software.

Of course, you could build your own! The problem is, as I can tell you, that they’re really hard to build and I am the only person who made a public model which is detailed.

You don’t have time to spend 2 months building one (which will still suck), you need to be executing like I wish I had. Sure, maybe you have an expensive, smart CFO, but they’re still running your company, and the ROI on their time to replicate what I am doing is ignorant. And come on, they do not have a clue how to do this!

For the cost of an hour of their time (or mine), you skip months of development and get straight into inputting your actuals and forecasts. This is a no-brainer.

Resent buying a model, and feel better paying someone to build a model for you? Sure, paying someone smart to build something sort of usable can cost $10k+. You won’t even get what you want.

This is the model I wish existed. I literally built it for you. I only build new things which add value to founders, not copy others.

How the enterprise SaaS financial model was built

There is so little pragmatic info about cap tables it is a joke. Sure, there is some basic stuff, but if you want to get into the weeds, forget it!

A $2b healthcare VC reached out to me to teach 10 of their financial staff for a reason.

I invented this model from first principles as there was nothing beyond basics (I read everything on the internet, trust me).

I’ve drawn on my years of experience operating startups at the early and growth stages to create something that just works. There is not a needless level of detail, nor a sparsity of assumptions to illustrate a depth of logic and insight.

Everything included has been considered as to whether it adds value and if investors will “want to know and ask”, or if it will simply aid operationally in your doing your flarking job! The structure also enables founders to change the model to fit the exact needs of their startup by just using drop-down menus.

This model is literally months of 100-hour weeks.

Who this is for

Are you building the next top startup? If you are raising, it’s not an if but a certainty that Venture Capitalists will ask to see your cap table. The later stage your startup the more important it becomes.

Investors have to understand who owns what, what the founders have, what the size of the ESOP is, what rights investors have and such. You care about having an exit, but it’s the only thing that investors care about. They make money by their ownership, and so factors such as liquidation preferences matter.

This model is for literally any startup that is raising. It’s also for investors, lawyers, financial advisors yada yada.

Technical features of the marketplace model
  • Fully integrated and automated model: Get insights with as few assumptions as possible
  • Standardised structure on each sheet: Calculations and assumptions are presented as simple as possible and structured to be as easy to follow
  • Consistent: Consistently color-coded cells for formulas, links, and assumptions applying best practices from global, top-tier investment banks. All cells are perfectly aligned
  • Comments: Comments on all assumptions so you know what to input and why
  • No hard coding: No hardcoded numbers in any formulas
  • Open editing: Model is not locked, you are free to restructure as much as you like!
  • Clear linking: Links to each sheet are always at the top of each sheet to track and understand where assumptions come from and what sheets are driving another one

General

Do the models work with Google docs?

I answer this above but I get asked a lot, so will make it clear.

I don’t make toys. If you want to do “finance good’, get Excel.

Google stuff is only for sharing things.

I use complex calculations and Google can’t process them all.

It’s not even ‘if’ it will work in Google, you just don’t want to go there.

Just get Excel if you want to be in the big leagues and use my models. It will be so much more enjoyable.

Do the models work on Mac?

I built the first models on my MacBook Pro Retina, so I know they work.

There are no compatibility issues between PC and Mac (Other than Macros). Mac just sucks huge donkey dick if you are amateur plus level and know shortcuts (like you should!).

If you’re at some SF startup with a douche tech policy requiring Macs, it’s OK. My models will work.

Just tell your tech team you need to do your job and give you a fricking PC. Laptops are cheap these days.

I really mean it. You can’t do finance on a Mac and enjoy your job (effectively).

I hate Excel on Mac so much I’m even willing to do a call for free to make the case.

Who should use this model

The model is very detailed and powerful. There is nothing available on the internet on this level, however, it is still accessible to anyone willing to learn the foundational concepts (You just have to learn ESOP concepts, sorry). Just follow my guide and watch the videos and you will know enough. Every effort has been made to make it simple for a founder to get impressive results without having to be advanced in model structuring (We did all the hard work).

You don’t have to do ANY modelling to use this model. You just need to be able to fill in the assumptions boxes. Only if you need to restructure the model due to you having a special business model will you need to be advanced level.

The ideal user:

  • Building a complex or simple ESOP structure
  • Is comfortable with numbers and wants to have control over their model with fairly granular assumptions, to customise to meet their needs without any modeling
  • Is at the seed to the scaling stage of fundraising.
  • Likes to impress and enjoys a beautiful model!
  • Wants to show investors they applied a very vigorous, logical approach to their forecasting and operations
  • Wants a model that runs rings around hotshot bankers without the crazy cost
Who might find this model hard

I don’t offer returns (it’s a digital good), but want to make sure you succeed; so if you are new to Excel and marketplaces and aren’t willing to put in some work to learn, this model might not be for you.

  • If you don’t know how to use a (SUM) function you may find it overwhelming if you need to understand every detail. Every line has been broken up to be logical to understand, so with a little diligence anyone can be a total boss.
  • If you don’t really understand marketplaces, it might be too much but it will help you learn
  • If you don’t understand how marketing works (such as what CTR is), then the detailed sheets in the model may have too much detail for you to handle. Use the basic ones instead
  • If you insist on using Google Sheets, don’t use this
What this model doesn’t do

There are a number of additions which could have been added to this model and have purposefully not included. If you have seen models with other frills, trust there are reasons why they have not been included. Let’s go through some of these so you understand:

  • Traditional cash flow statement and balance sheet: There is a cash-based accounting section to understand your actual cash burn. Investors don’t really care about your BS and CFS sheets like a PE company would. They care about the logic of your model to show it is thoughtful. They care how much revenue you will generate to size the market opportunity (how they will get rich) and how ambitious you are. The BS and CFS are useful at growth stage companies when there is a line of sight on meaningful forecasts- early stage you don’t really have many reliable numbers so they serve to create information overload
  • Cap table: It is best to have this separately so it is a distinct conversation rather than bundling it with your forecasts. If you need a model you can get one of mine
  • DCF and valuation: Having a DCF at the early stage is totally ridiculous, particularly as the assumptions don’t make sense (What’s your discount rate? Show me how to do your WACC…). A DCF is also not how VCs value early stage companies. Including a DCF or multiples is not how you want to approach a valuation discussion with investors and I think can actually harm you in negotiations. I recommend not putting a valuation in the model
  • Complicated paid marketing assumptions: We want to show logic not needless complexity. There is some very smart logic in calculations for emails and the like, but we try to keep the number of assumptions down so you can discuss what’s important (Like CPC and budget, not keyword volumes)
  • Growth modelling: If you are at the growth stage, you will have a lot more visibility on your actuals and have more historical reporting. This is not the best approach to modelling and fundraising for you. But the cool thing is, if you know basic Excel, it’s easy to add columns for your actuals if you like. We’re happy to add those for you
Why this model was built
  • Startup is hard and fundraising is a total nightmare. It takes up so much time and it can be far easier to execute if you have the right tools on hand.
  • When we started Delivery Hero I spent far too much time figuring out how to build a good fundraising and operation model and it was infuriating. I wished I had something that just worked or a base I could use to fiddle with and get the result I wanted (Meaning, getting back to executing). We’re making these models so you don’t have the same painful, long nights and weeks, not executing like I wished I could have.
  • I then learned more and realised what I didn’t know and that there are always new concepts to learn. ESOP was something no one explained, so I decided I would suck it up and do it.
Support
  • The model is provided as is
  • Every effort has been made to ensure there are no errors. Given the size and impressive depth, it is impossible to ensure there are none. If you find an error, please reach out so it can be fixed for everyone! I am happy to help you fix any errors free of charge
  • If you need support building your model I offer a consulting service dependent on your bespoke needs
What do I need to use this model?
  • You need Excel. Google Sheets is never to be used for a fundraising model as the functionality is limited. It might work in Sheets, but I can’t warrant it will work. I highly recommend using a PC and Excel
  • This works on both Mac and PC and was built on both (But Mac sucks)
  • You should install the ‘Solver Add-in’ and ‘Analysis TookPak’ if you do not have it installed already. These are free and standard Microsoft add-ins. I don’t require it, but it’s worth having
  • I do not have circular references so there is no need for ‘iterations’ in this model, but in case, turn them on in your calculation settings, especially if you fiddle.
  • This is not needed, but if you want to be a boss in Excel, download https://www.asap-utilities.com/. There are some really useful tools if you need to build models. It only works on PC though (as do the other cool tools).
Customise the model for me?

Yes. There are business models which will require the model to do things that you need. I charge $300 an hour and can build whatever you need.

Refunds?

No refunds.

These are digital goods. You can’t return them.

If you aren’t sure if this model is for you ask me your questions first.

You can email me or hit me up on live chat (If I’m around).

Who the heck built these models and do you have a clue?

Hi. You’re on my site, I built the models.

I’ve worked at Lazard in FIG M&A (Top tier firm and team), and VC, I’ve built lots of startups, I mentor at lots of accelerators (And mentor some of the people who run them), TEDx talked, bla bla.

I’ve got more free Excel tools on my site than any other startup site and I give the stuff away that others charge for. Get some of my free stuff and tell yourself before you buy if you aren’t sure.

What if there is an error?

I spent a fricking week auditing this model.

If there is an error, I want to know! Just email me and I’ll look into it and fix it for you gladly. Maybe within an hour if I’m free.

Bear in mind normally when people say there is an error they just did something wrong and didn’t understand why.

Do you send updates?

Yes. If someone finds an error, or I add new functionality, I send updates to everyone with the new model.

Is the model locked?

I DO NOT hide anything in any model I make.

Yes, I know of one well-known model that locks everything. I think that’s dumb (Mainly because I already hacked it).

You can do anything to my models if you want. I purposefully design my formulas so you can follow what is happening.

My models are fully editable.

I also do not do VBA as I want you to be able to see what is going on.

Refunds

Money Back Guarantee

If this model doesn’t fit your needs, I’ll refund you your money.

I’m not ‘that dude’ so I’ve come up with a logical guarantee.

But wait, these offers sound nice, but scammy people make it impossible to get a refund!

1
Contact me with any questions before you buy

There is live chat and you can email me. Ask me some structured questions and I'll tell you if the model works for you or not

2
Try out the model

Whilst, I go overboard in providing details of the models, I also don't want to bore you. So buy the model and check nothing key is missing

3
Clarify if you don't understand something in an email

I do everything for a reason. Maybe you have 17 client avatars but I only have 3. I'll teach you why you're thinking about this the wrong way!

4
Refund

If the model doesn't fit your business model, I'll refund you. I want you to be happy and tell your friends

Reading

Looking for Some Recommended Reading?

Here are some blogs you can check out related to this topic:

How to Fill in a Financial Model Template

Learn how to approach filling in a financial model.

Fil in a financial model

Use Dollars in Your Startup, Especially for Your Financial Model

Learn why to use USD in your model.

Use Dollars
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