Nitin Mittal
Verified Expert in Management Consulting
Finance Expert
New York, NY, United States
Toptal member since January 17, 2017
Nitin has 19+ years of experience as a banker, hedge fund analyst, and CFO with deep operational, fundraising, and M&A exposure in growth and turnaround situations. He has served as the CFO for a dozen technology companies, leading finance departments at multiple VC and PE-backed businesses with revenues ranging from $5 to $500 million. Nitin has structured and negotiated complex equity and debt financing exceeding $360 million and M&A transactions of $500 million, leading PMIs for 20+ deals.
Career Highlights
Education Highlights
Case Studies
Large Cap Go-private Leveraged Buyout Model
Series B VC Raise Model with Detailed Operating Metrics
Merger Model - Two Publicly Traded Companies
Case Study on Symantec Acquisition of LifeLock
Industry Expertise
- Banking
- Venture Capital & Private Equity
- Software
- Healthcare Software
- eCommerce
- Financial Modeling
- Artificial Intelligence (AI)
- Software as a Service (SaaS)
Other Expertise
- CFO
- Debt Raises
- eCommerce
- Financial Modeling
- Fundraising
- Mergers & Acquisitions (M&A)
- SaaS
Work Experience
Interim CFO
Toptal Clients
- Represented NextGen Shopping in acquisition and strategic investment discussions. Constructed the first budget and operating model for internal and external purposes.
- Verified, automated, and recommended relevant enterprise SaaS KPIs for Burt Corp.
- Developed comprehensive and cross-functional KPIs for reporting to the Board post-Series A for Labster.
- Built a fundraising model and presentation for ZipHub.
- Evaluated strategic alternatives for Accent Technologies ranging from the sale of the business to raising venture capital to divesting an asset.
Founder
Potomac Crest Partners
- Invested as an angel in several startups in the software, mobile, and eCommerce domains.
- Performed due diligence and advised on the potential acquisition of a $100+ million eCommerce asset.
- Advised on M&A discussions for a software company and developed strategic partnerships.
- Assisted in and advised on the fundraising of a startup eCommerce business as well as advised on holiday go-to-market strategy.
- Refined the customer acquisition and monetization strategies for a mobile app company.
Interim CFO
Solera Health
- Secured a $35 million Series D, bridging the departure of Solera's head of finance and hiring a full-time CFO.
- Led the annual budgeting process and satisfied financial reporting requirements to debt and equity investors.
- Implemented a detailed weekly cash flow model to manage liquidity while the Series D round closed.
- Initiated the annual financial audit process with Deloitte.
Interim CFO
Branded
- Secured a $120 million amended debt acquisition facility and a $75 million Series A.
- Supported M&A operations, focusing on financial due diligence, post-merger integration activities for 13 closed transactions, purchase price allocations, and net working capital reconciliations.
- Built the finance and accounting infrastructure, including budgeting and forecasting (13-week cashflow model, 2021 budget, and supply chain forecasting).
- Implemented NetSuite and in-sourcing monthly close and reporting activities from a third-party service provider by recruiting the finance and accounting teams.
- Recruited and hired a team of finance and accounting professionals.
Interim CFO
Accrete AI
- Supported the financial and legal due diligence teams in the close of the company's Series A.
- Constructed an operating model with multiple scenarios to capture rapid growth inputs.
- Worked closely with Operations to design the company's organizational chart.
Interim CFO
Kraus Hamdani Aerospace
- Revised and expanded upon a Series A fundraising model.
- Led tax and R&D credit filings to ensure the company was compliant with prior years.
- Supported the fundraising process and due diligence requests.
Interim CFO, M&A Consultant
Under NDA – Stealth Mode AI
- Advised, structured, and conducted financial due diligence on potential acquisitions, JVs, and other investments.
- Completed and integrated two acquired businesses based in the US and France, comprising of over $25 million in transaction value.
- Built pro forma financials for integrated acquisitions.
- Constructed a 2020 budget across multiple departments for both US and international operations with a detailed weekly cashflow model.
- Led the company through its first financial audit on a consolidated basis.
Interim CFO
CloudSploit
- Led and negotiated the acquisition of the company by a VC-backed software business.
- Managed the financial and legal due diligence processes for a 90-day close post-LOI signing.
- Advised and structured the post-acquisition earnout and founder compensation.
- Converted financials from cash to accrual basis, while reconciling and reporting monthly financials.
- Identified the relevant SaaS KPIs and analyzed retention, churn, and pricing.
Interim CFO
Confidential
- Supported the closing of a $35+ million Series B financing.
- Initiated processes for the company's first audit.
- Worked on the tax filings for US and international subsidiaries as well as R&D tax credit.
- Reported monthly financials to management, the board, and external VC and bank investors.
CFO
DH Enterprise & Associates
- Oversaw financial strategy, growth initiatives, forecasting, and operations for a high eight-figure online travel company.
- Devised new processes and controls to reduce close time and costs, increasing EBITDA by high single digits.
- Led financial audit and tax filings for the consolidated business with an international subsidiary.
- Managed tens of millions of dollars in foreign exposure risk through hedging strategies.
- Negotiated the acquisition of a strategic business and the post-close integration.
- Worked cross functionally to develop a detailed three-year model that incorporates KPIs to reconcile variances against the monthly closes.
- Interfaced with the board and communicated on financial and risk matters.
- Developed marketing tactics that increased revenue by and contribution profit by mid-single digits.
Co-founder and CFO
Decipher Finance
- Developed and led the sales and marketing strategy for a direct-to-consumer and business-to-business launch.
- Established and maintained new business development and distribution partnerships.
- Led product development, performed quality assurance and user testing, and refined usability.
- Constructed and updated a financial model for fundraising and for weekly operations.
Vice President
RadioShack
- Conducted an abridged due diligence process (45 days) on a three-person team, resulting in the $175 million asset acquisition by a multi-billion dollar investment management firm.
- Worked with the CEO and senior management to transition legacy agreements and relationships to the new entity, restructured operations and the workforce, and established new policies and procedures.
- Acted as the internal CFO by supervising a 115-person department, presiding over daily cash management and expenditures, monitoring the 13-week cash model, overseeing annual and transactional audit procedures, establishing monthly close processes in GAAP accordance, and satisfying reporting requirements to equity and debt investors with internal controls.
- Assisted and secured a $75 million asset-backed loan and term loan package.
- Architected the transition of the company’s IT infrastructure from on-premise legacy systems to modern SaaS/cloud solutions.
- Reduced IT annual spend by 17% ($5 million) through renegotiations and the elimination of software and systems.
- Negotiated a $16 million budget with new cloud-based software and service providers, covering ERP, HR, security, eCommerce, point-of-sale, and business intelligence systems.
- Relaunched the eCommerce site with “Buy Online, Pick up In-store” and “Ship from Store,” which improved profitability from a negative EBITDA.
CFO | Board Member
Branding Brand
- Guided the company's repositioning from an interactive agency to a highly-recurring SaaS company with $15+ million in ARR.
- Managed annual revenue growth rates in excess of 100% while bootstrapping for the first three years.
- Oversaw the headcount growth from five to over 200 employees across multiple locations.
- Raised over $20 million in venture capital and debt financing from Insight Venture Partners, eBay, CrunchFund, Lead Edge Capital, Silicon Valley Bank, David Bonderman, et al.
- Participated in board meetings and other strategic discussions with investors and management.
- Reported monthly performance to investors and oversaw three audits, two changes in the corporate structure, and a change in revenue recognition policy.
- Recruited and built nine teams to run finance, accounting, and administrative and operational functions.
- Worked closely with sales, legal, and operations to cover client pricing, terms, staffing, and retention.
- Architected and supervised the hosting infrastructure on Amazon Cloud that grew from a few servers to over hundreds of instances located globally with an annual spend of $1.5+ million.
- Worked with the analytics team to identify, report, and optimize site performance metrics, such as page views, sales, order values, and conversion, translating into higher recurring revenue and retention rates for the company.
Investment Analyst
Stelliam Investment Management
- Covered the technology, media, and telecom (TMT) sectors for a $200+ million long/short hedge fund.
- Analyzed, modeled, and evaluated: equity, credit, derivatives, merger arbitrage, and event-driven opportunities across small-cap and mega-cap.
- Managed and oversaw a $10 million book of investments.
Associate
The Royal Bank of Scotland
- Worked in an industry-specific group to initiate buy-side advisory opportunities focused on financial sponsors and supported the origination and structuring of TMT-related leveraged financings.
- Led the arrangements for Univision and AllTel in providing debt and equity financing in excess of $5.0 billion for LBOs.
Analyst
Credit Suisse
- Focused on large cap strategies to create shareholder value by using HOLT-specific, value-based metrics.
- Performed capital deployment, business unit, M&A, market expectation, and return driver analyses.
Analyst
Sander Morris Harris
- Advised private and small-cap technology companies on acquisitions and financings.
- Served as buy-side adviser for an $80 million go-private.
Education
Master's Degree in Biomedical Engineering
Columbia University - New York, NY
Bachelor's Degree in Electrical Engineering
University of Michigan - Ann Arbor, MI
Skills
Finance
Financial Modeling, P&L Forecasting, Due Diligence, CFO, Venture Funding, Growth Capital Raising, Mergers & Acquisitions (M&A), Corporate Finance, Forecasting, Financial Benchmarking, Revenue & Expense Projections, DCF Valuation, Valuation Multiples, Three-statement Modeling, Fundraising, Comparable Company Analysis, Discounted Cash Flow (DCF), Budgeting, Cash Flow, M&A (Buy-side), Customer Acquisition Cost (CAC), Capital Budgeting, Capital Raising, 409A Valuation, Valuation, Debt Raises, Revenue Management, Data Analysis, Angel/Seed Funding, Market Research, Financial Planning & Analysis (FP&A), Financial Reporting, Asset-based Finance, Customer Lifetime Value (CLV), Entrepreneurial Finance, Valuation Modeling, Foreign Exchange (FX) Hedging, Internal Audits, Tax Planning, International Taxation, Return Analysis, Private Equity, Leveraged Buyout Modeling, Working Capital Management, Growth Equity, Cash Management
Output Software
Microsoft PowerPoint, Microsoft Excel, Microsoft Outlook, Microsoft Word, Jira, Apple Keynote
Data & Analysis Software
Capital IQ, Intuit QuickBooks, Oracle ERP, NetSuite, Tableau, SQL
Industry Expertise
Banking & Finance, Venture Capital, Technology, Financial Services, Software, Capital Markets, Telecommunications, Retail & Wholesale, Debt Capital Markets
Geographic Expertise
United States
Other
Software as a Service (SaaS), Financials, Analysis of Variance (ANOVA), Cap Tables, Operating Models, Annual Operating Plans, Investor Presentations, Board Presentations, Investment Modeling, Modeling, Investment Banking, Recurring Revenue Modeling, Cash Flow Analysis, Cash Flow Management, Discounted Cash Flow Analysis, Benchmarking, Pitch Decks, DCF Modeling, Excel Modeling, Annual Budgets, Key Performance Indicators (KPIs), Cohort Analysis, Budget Modeling, eCommerce, Microsoft 365, SaaS, Cybersecurity, Corporate Finance Consultant, Post-merger Integration, Distressed/Special Situations, Turnaround Management, Growth Strategy, Business Planning, Acquisitions, Debt Issuance, Debt Financing, Variance Reporting, Revenue Analysis, Revenue Recognition, SWOT Analysis, Accounts Payable, Employee Stock Options, Capital Advisory, Investment Ideas, Close Procedures, Stock Analysis, Key Performance Metrics, Leveraged Finance, Project Management, Auditing, Accounts Receivable, Pivot Tables, Analytics, Process Improvement, Leveraged Buyout (LBO), Operations, Web & Mobile Applications, Software Revenue Recognition, Turnaround, Audits, Management, Operations Analytics, Strategic Planning & Execution, Investing, Strategy, Pitch Presentations, Presentations, Reporting, Financing, Models, US GAAP, Inventory Cost Accounting, Cost Accounting, General Ledgers, Commission Planning, Corporate Legal, Legal Contract Drafting, Tax Returns, Oracle Financials, PDF Conversion, Python, Amazon Web Services (AWS), Analysis, Contract, Data Analytics, Leadership, PDF, Mobile UX, Online Marketing, Agile Software Development
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