Investors and Funding

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How to Build Your Startup’s Financial Model to Grab Investor Interest

Hook investors with a financial model that instantly shows them what they need to know about your startup.

10-minute readContinue Reading
Jeffrey Fidelman

Jeffrey Fidelman

A veteran of VC, Jeffrey now provides investment banking services to early- and mid-stage startups and has served as interim CFO for more than 300 companies and funds.

Remote or On-site? The Real Cost of Office Space for a Venture-backed Startup

For funder-backed startups, brick-and-mortar offices cost more than just money–they dilute founder equity.

13-minute readContinue Reading
Erik Stettler

Erik Stettler

Erik is a co-founder of a global venture capital fund that has invested in 50 startups (raising more than $500 million) and has realized six exits. He serves as Toptal’s Chief Economist.

Why Your Startup Pitch Needs Sensitivity Analysis

To impress risk-averse investors, you have to prove that you’re ready for whatever may come.

18-minute readContinue Reading
Nicholas Piscani

Nicholas Piscani

Nicholas is a corporate strategy and FP&A expert who works with businesses to optimize their operations and execute high-priority strategic initiatives. He has helped entrepreneurs raise more than $600 million through financial modeling and pitch deck development.

Tough Times Don’t Have to Mean Tough Terms: Leveraging Financial and Cap Table Modeling in VC Negotiations

When capital is scarce, VCs may tighten their terms to reduce their risk. Here’s how to think through three of the most common preferred terms to ensure you don’t give away too much of your company.

12-minute readContinue Reading
Erik Stettler

Erik Stettler

Erik is co-founder of a global venture capital fund that has invested in 50 startups—which have raised more than $500 million—and has realized six exits. He serves as Toptal’s Chief Economist.

The Metrics Investors Want: Quantitative Forecasting for Early-stage Startups

It’s a catch-22 for young startups: How do you attract investors with compelling financial projections if you don’t have historical data? Here’s a three-part strategy for making the most of what you’ve got to seal the deal.

11-minute readContinue Reading
Sean Heberling

Sean Heberling

Sean is a General Partner at Addvia Ventures, which invests in early-stage high-growth companies addressing large end markets. He’s also founder and CEO at Marion Street Capital, a firm that helps companies refine forecasts and grow revenue. Previously, he worked at Morgan Stanley and BNY Mellon, and during his career he has facilitated investment transactions exceeding $1 billion.

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Asia is one of the hottest venture markets in the world right now. Find out what savvy investors must understand about this culturally and economically diverse region in order to succeed.

11-minute readContinue Reading
Alec Tseung

Alec Tseung

Alec is a financial analyst who has executed more than $5 billion in corporate, private equity, and venture capital transactions for Swiss Re and Tencent, China’s leading internet company. He’s also a co-founder of a Hong Kong financial advisory firm with client companies across Asia.

How to Build a 3-statement Model: Best Practices for Valuations and Projections

To value or build projections for a company accurately, you have to factor in working capital projections—and you can’t do that without investing in a three-statement financial model.

12-minute readContinue Reading
Abdullah Karayumak, CFA

Abdullah Karayumak, CFA

Abdullah is a financial modeling, valuations, and capital raising expert and Chartered Financial Analyst. He’s advised clients ranging from early-stage startups to multibillion-dollar enterprises, most recently for KPMG.

Raising Venture Capital in Down Markets: A Guide to Early-stage Funding

In tough financial times, VCs often focus on shoring up portfolio companies rather than investing in new opportunities. But it’s still possible to raise capital—if you refine your approach.

10-minute readContinue Reading
Erik Stettler

Erik Stettler

Erik is co-founder of a global venture capital fund that has invested in 50 startups—which together have raised more than $500 million—and has realized six exits. He previously led restructurings of $3 billion in global subsidiaries and M&A deals worth more than $10 billion. He also serves as Toptal’s Chief Economist.

Real Estate Financial Modeling: 3 Costly Mistakes to Avoid

Rising construction costs mean real estate developers are relying on complex—and potentially costly—finance structures more often. Smarter modeling will help keep borrowing costs low.

12-minute readContinue Reading
Robert Finch

Robert Finch

Robert is the founder and director of UK-based property finance broker Sativa Finance and an expert in financial modeling. He has worked in real estate finance since 2006, securing ~$1.8 billion in financing for commercial acquisitions and construction projects.

Forensic Accounting: Due Diligence’s Secret Weapon

More than just a way to investigate financial crimes, forensic accounting is the most in-depth form of due diligence and compliance. But smaller firms often overlook its value. Here’s why that’s risky.

9-minute readContinue Reading
Ryan Zanoni

Ryan Zanoni

Ryan is a Senior Editor at Toptal. He has more than 11 years of experience as a writer and editor covering business and technology.

Communicating With Investors: Best Practices for Startups

Investors aren’t patrons—they’re business partners, and startups should treat them as such. Regular updates and the occasional call for advice go a long way toward optimizing the relationship.

8-minute readContinue Reading
Christopher Holloway

Christopher Holloway

Christopher is an award-winning journalist covering how technology transforms sectors like banking, manufacturing, and healthcare. Based in Latin America, he previously worked at AmericaEconomia, La Tercera, and Netmedia. He is a Senior Writer for Technology at Toptal.

Tell a Compelling Story: Pitch Deck Components That Persuade

To persuade investors to fund your startup, your pitch deck must do more than present a solid business case. It must generate an emotional response.

13-minute readContinue Reading
Brian Nichol

Brian Nichol

Brian is a seasoned management consultant who has held multiple corporate SVP roles and has been a consultant for startups seeking advice on fundraising and valuing their businesses. Having successfully raised seed capital for his own startup, he has a deep understanding of the commercial and operational aspects of starting a business.

The Evolution of Venture Capital: Investing in Global Talent

By adopting a global talent acquisition strategy, venture capital not only extends the opportunities of entrepreneurship across the world, it helps startups reduce churn and break even faster.

9-minute readContinue Reading
Erik Stettler

Erik Stettler

Erik is a co-founder of a global venture capital fund that has invested in 50 startups (raising more than $500 million) and has realized six exits. He serves as Toptal’s Chief Economist.

Successful SaaS Fundraising: Navigating the Evolving Landscape

Investors have been pouring capital into SaaS startups. But that doesn’t mean raising funds is easy. This guide to finding the right financing options can help lead you to the treasure in this tricky terrain.

13-minute readContinue Reading
Julio C. Ortiz

Julio C. Ortiz

Julio has more than 25 years of diversified experience as a finance VP for multinational companies in a number of industries. Over the last five years, he has focused primarily on helping owners of early- to mid-stage SaaS and e-commerce startups raise funds to successfully grow their companies. Julio’s experience includes financial planning and modeling, business plan development, company valuation, fundraising, and strategic leadership.

Modeling an Asset Class: Why Wall Street May Be in the Single-family Rental Market for Keeps

Wall Street has its eye on the single-family rental market. A convergence of rising home prices, changing rental preferences, and advancing technology is fueling the boom.

8-minute readContinue Reading
Hudson Cashdan

Hudson Cashdan

Hudson is a management consultant with a decade of experience organizing and investing in single-family housing funds. He has worked as a hedge fund equity analyst, portfolio manager, and startup advisor, and has deep expertise in financial modeling and forecasting.

Crypto Exchange Wars: How Coinbase Stacks Up Against Its Rivals

Coinbase is among the hundreds of cryptocurrency exchanges that have sought to fill a gap left by the mainstream, for years offering investors the only platforms for investing in Bitcoin and other tokens. However the industry has matured, and the mainstream is warming up to crypto, making the exchange business hotly contested and challenging leaders like Coinbase.

6-minute readContinue Reading
Michael J. McDonald

Michael J. McDonald

Michael J. McDonald is an award-winning journalist who has worked at Bloomberg News and Thomson Financial. He is a Senior Writer at Toptal.

Toptal Management Consulting Expert

Neil Portus | CFA, CMA

Neil is a CFO for growth companies and a former equity analyst at Goldman Sachs in NY where he helped lead numerous transactions including Zipcar's $1.1 billion IPO. He was also an equity analyst at Barclays Capital & Lehman Brothers and began his career at a boutique investment bank (M&A, restructuring, debt financings). He's built his operational skills both as a startup founder and as the CFO of an East Africa-focused impact investment firm.
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