Getting ready to raise capital? Walk in with numbers that hold up.
Being fundraising-ready means investors or lenders can trust your numbers, follow your story and verify it quickly in diligence. That takes clean historical financials, a driver-based financial model, the right KPIs, a clear use of funds and an organized data room. Capstone CFO prepares all of it and supports you through the raise, for equity, venture debt or bank financing.
Six signs you are not ready to raise yet
Investors notice these quickly, and they cost time, leverage and valuation.
Historical numbers need explaining
Your financials are cash-basis, late or adjusted by hand before every investor conversation.
The model is a spreadsheet of hopes
Revenue projections are not tied to drivers such as pipeline, conversion, pricing and hiring.
Metrics are not defined
You cannot quickly show CAC, LTV, retention, gross margin or burn multiple, or the definitions change between decks.
No clear use of funds
You know how much you want to raise, but not exactly what milestones it buys or how long it lasts.
Diligence would be painful
Contracts, cap table, tax filings and board materials are scattered across inboxes and drives.
Debt versus equity is unclear
You have not compared venture debt, bank financing and equity on cost, dilution and risk.
Why it happens
Founders are rightly focused on product, customers and the team. Finance infrastructure tends to be built just in time, often after an investor asks a question nobody can answer cleanly.
A raise compresses all of that into a few weeks. Without preparation, the process takes longer, diligence uncovers surprises, and leverage shifts to the other side of the table. Preparing early is one of the highest-return uses of CFO time.
What good looks like
- Accrual-basis, reconciled historical financials
- A three-statement, driver-based financial model with scenarios
- A defined KPI set that matches your business model
- A use of funds tied to milestones and runway
- An organized, diligence-ready data room
- A financing strategy that compares equity and debt options
From first question to a diligence-ready raise
How we prepare companies for equity and debt financing.
Readiness review
We assess your financials, model, metrics and documents against what investors and lenders will expect to see.
Fix the foundation
We clean up historical financials, define KPIs and build a driver-based model with clear assumptions and scenarios.
Build the materials
We prepare the financial sections of the deck, use of funds, data room and answers to the questions we know are coming.
Support the process
We join investor and lender conversations, manage diligence requests and help evaluate term sheets.
What you get
Materials built to be reused for board reporting after the raise closes.
Financial model
A three-statement, driver-based model with base, upside and downside scenarios.
KPI and metrics pack
Clear definitions and historical trends for the metrics investors care about in your sector.
Use of funds and runway
What the capital buys, which milestones it reaches and how long it lasts.
Data room
Organized financials, contracts, cap table, tax and corporate documents ready for diligence.
Investor materials
Financial slides and supporting schedules aligned with your pitch narrative.
Financing analysis
A comparison of equity, venture debt and bank options on cost, dilution and risk.
Frequently asked questions
When should we start preparing to raise?
Ideally three to six months before you plan to start investor conversations. That leaves time to clean up historical financials, build the model and fix any metrics or documentation gaps before they show up in diligence.
What financial documents do investors ask for?
Typically historical financial statements, a financial model with projections, a KPI summary, the cap table, a use of funds, key customer and vendor contracts, tax filings and corporate records. Requirements vary by stage and by type of investor or lender.
Do you help with debt as well as equity?
Yes. We support bank lines of credit, term loans and venture debt as well as equity rounds, and we help compare the options on cost of capital, dilution and covenants.
Does the work carry over after the raise?
Yes. The model, KPI definitions and reporting built for the raise become the foundation for board and investor reporting afterward, which is where many companies continue with an ongoing CFO plan.
Planning a raise in the next year?
Start with a readiness review and walk into investor meetings prepared.