Finmark – SaaS for Financial Models by Alexander Gornyi

The post was originally published in Russian on Startup of the Day. Alexander kindly agreed to republish what we think is of great value to our readers.

A financial model is among the most important documents for a startup. It’s usually created in Excel, somewhere next to the founder’s calories count and family budget. And as it always is with Excel, the table will always have typos, errors, forgotten lines. And there is no way to spot these problems other than accidentally, that’s how this tool is built.

Finmark, the American startup of the day, offers to drop the manual labor. Its product is a specific instrument for building financial models. The system has default embedded templates for SaaS, mobile apps, eCommerce, and other typical projects. Formulas for cohorts, gross profit calculations, etc., are created automatically. A couple of clicks – and a pretty-looking financial strategy with charts and reports is on the screen. Integration with accounting will provide for the plan/actual in addition.

The price is 100-1000 dollars per month, the amount is determined by the company’s revenue. It’s expensive, but not more expensive than the outcomes of Excel errors. An additional monetization tool is the Get Funded button. The startup sends the presentation, Finmark shows it to partner funds. The chances for a deal are considerably higher than usual: the platform is aware of the startup’s financial state, its screening of the project’s prospective viability is the best one possible, and the investor is ready to pay for such leads.

The company itself brought in USD 11.6M of investment in two years of its existence.

https://finmark.com/

#rounda #usa #technology

Translation: Kostiantyn Tupikov