Direct answer
Investor financial model review
Confirm model version, baseline date, currency, units, and actual-to-forecast cutover. Trace revenue, margin, headcount, operating expense, cash, and funding assumptions. Then create a private case to test effects on runway, funding gap, and milestones.
- Confirm version, date, and scope
- Trace assumptions into outputs
- Reconcile cash and use of funds
- Test risk in a separate case
01Review area
Set the review boundary
- 01
Freeze the reviewed version
Record share date, version name, base currency, and last actual month so the model cannot change silently during review.
- 02
Understand included and excluded items
Check tax, working capital, capital expenditure, debt, equity, and uncommitted funding coverage.
02Review area
Trace core assumptions
- 03
Work backward from revenue to drivers
Review whether price, customers, usage, projects, or milestone payments have evidence and operating capacity.
- 04
Check whether cost and headcount scale
High growth without delivery cost, sales capacity, or hiring may understate funding needs.
03Review area
Test capital risk
- 05
Reconcile cash, runway, and use of funds
Opening cash, payment timing, funding month, and use of funds should connect.
- 06
Build a private review case
Keep the Founder Base unchanged and test slower revenue, lower margin, earlier hiring, or delayed funding separately.
What Tessly can help with
Keep assumptions, calculations, and decisions in one model
Tessly lets investors create a private Investor Case from a shared founder model and compare assumptions and capital outcomes while preserving Founder Base.
Tessly does not provide investment advice, diligence conclusions, or return guarantees. Review still requires market, team, legal, and commercial evidence.
FAQ
Frequently asked questions
Should an investor review profit and loss or cash first?
Start with the business model and revenue drivers, then review margin, expense, and cash together. Profit alone can hide payment timing.
What if the founder forecast is too optimistic?
Preserve the founder version and create a separate conservative case with explicit changes and reasons.
Can an early-stage model be reviewed without three statements?
Yes, when revenue, cost, cash, and funding needs are clear, but missing areas should be disclosed.
What are common model red flags?
Unclear units, hardcoding, revenue disconnected from sales capacity, costs that do not scale, and uncommitted funding in the baseline.
Next step
Put this question back into the full financial model
Continue with the runway and burn rate guide or the 12-question fundraising checklist.