Archil Lursmanashvili (FMVA), Finance Expert in Tbilisi, Georgia
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Archil Lursmanashvili (FMVA)

Verified Expert  in Finance

Finance Expert

Tbilisi, Georgia
Toptal Member Since
December 16, 2016

As the deputy CFO of Silk Road Group, Georgia's third-largest private enterprise, Archil works closely with international financial institutions and local banks and is actively involved in every step of the financing process, including financial modeling, negotiations, contracting and ensuring compliance with the covenants required by lenders. Archil joined Toptal to help SMEs develop flexible financial models as a tool for raising financing.

Career Highlights

Deputy CFO
Silk Road Group

Education Highlights

Bachelor's Degree
Caucasus University

Certification Highlights

Financial Modeling & Valuation Analyst (FMVA)
Corporate Finance Institute (CFI)

Case Studies

Work Experience

Deputy CFO

2012 - PRESENT
Silk Road Group
  • Served as the deputy CFO at Georgia’s third-largest private enterprise having invested nearly $1 billion in the country since its founding in the real estate, hospitality & leisure, telecommunication, transportation, and banking sectors.
  • Built three-statement financial models with built-in sensitivity analysis and preliminary valuation tools to assess the financial attractiveness of a particular project. The models included the option to navigate through different scenarios—making it easier to present projected financials to various stakeholders (e.g., group shareholders, international and local financial institutions) and to evaluate different possible outcomes.
  • Cooperated with international financial institutions (IFIs) and the most prominent local financial institutions (TBC Bank and Bank of Georgia) to finance the group's ongoing projects.
  • Created a financial model for the Radisson Blu Hotel in the wine region of Georgia to raise debt and mezzanine equity.
  • Collaborated closely with local banks and a state-owned investment fund (JSC Partnership Fund) during negotiations and contracting process.
  • Worked closely with the Rezidor team who manages two Radisson hotels (a total of 500+ rooms) in Georgia. Based on the monthly operating financials, I assessed the performance of the hotels and prepared informative reports, including a KPI fact sheet, budget versus actual comparisons, and analysis of future projections.
Focus areas: Financial Model Auditing, Financial Reporting, Management, Audits, Bank Debt Raises, Financial Modeling, Financial Planning & Analysis (FP&A)

Senior Auditor

2009 - 2012
  • Planned, budgeted, and managed audit engagements with more than ten staff members for clients who are operating in the financial as well as heavy industries and have multistep production and cost allocation processes.
  • Created a sophisticated inventory NRV test tool for one of the country's largest exporters.
  • Audited a production process workflow and control system for a client; also prepared recommendations on how to improve the system.
  • Prepared and checked IFRS financial reports.
Focus areas: Budgeting, Financial Data, Financial Statements, Auditing
2005 - 2009

Bachelor's Degree in Business Administration

Caucasus University - Tbilisi, Georgia


Financial Modeling & Valuation Analyst (FMVA)

Corporate Finance Institute (CFI)


P&L Forecasting, Balance Sheets, Balance Sheet Calculation, Cash Flow, Cash Flow Modeling, Profit & Loss (P&L), Valuation, Revenue & Expense Projections, Financial Reporting, Financial Planning & Analysis (FP&A), Financial Modeling, Fundraising, Fund Structure, Forecasting, CFO, Private Equity, Private Equity Valuation, Accounting, Bank Debt Raises, Financial Model Auditing, Budgeting, Financial Overviews, Three-statement Modeling, Mergers & Acquisitions (M&A), M&A (Buy-side)

Output Software

Microsoft Excel, Microsoft PowerPoint, Microsoft Word

Industry Expertise

Real Estate, Hospitality, Hotels & Lodging, Entertainment & Leisure, Telecommunications, Residential Real Estate

Geographic Expertise

Georgia, Europe, EMEA, Middle East

Data & Analysis Software

Financial Data


IFRS Financial Reporting, Virtual CFO, Business Modeling, Business Models, Financial Analysis, Financial Reporting Dashboards, Audits, Management, Auditing, Financial Statements, Financial Presentations, Data Centers, Data Center Infrastructure, Waterfall Modeling, SAP Business One

Collaboration That Works

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