Should you hire Momentum Finance as your CFO?

Simply Yes. Successful Founder CEO's focus on getting the product / service right and onboarding customers. Time spent running financial models for VC's, testing stories to use with investors, and accurate bookkeeping / reporting does not have the same ROI compared to other startup activities like creating / selling / designing.

How does Momentum Finance charge for services?

We charge a modest monthly retainer and hourly for services provides by our Team members, with hourly rates for each professional - Accountant / Controller / CFO.

what does the onboarding process look like?

It all begins with a Kickoff meeting where we discuss the state of the Company and the Books. This is followed by an in-depth Financial Health Check that provides insights into things that can be improved - such as the Chart of Accounts / Schedules (Accruals, Fixed Assets, Prepaids, etc.) / Compliance and Registrations / Insurance Audit to name a few items. Next step is the implementation of best-in-class cloud-based applications to maximize efficiency, as well as 10K-esque projections to facilitate Actual vs. Budget reporting. Our goal is to achieve a steady state of service within 30-60 days.

is Momentum finance the right choice of cfo for me?

Momentum Finance is a leader in providing high growth startups with a range of financial services leading to one objective: Successful financing rounds and a successful exit. Having raised over $300 million in financing rounds with our clients over the decades, Momentum has a 100% success rate in helping our clients present their story and financials in a way that investors understand and invest. Our white glove approach to delivering a professional accounting / back-office solution in a chaotic world makes all the difference.

what is the importance of time-tested procedures and Clean Financial Reporting?

In our practice, we encounter financial statements in various states of disrepair, developed organically over the course of a company’s existence. The underlying Chart of Accounts usually grew over time as new categories of expenses turned up that didn’t fit into what was already available. Many times, accounts have only one transaction and were created specifically for that one instance. Sometimes, accounts are listed in alphabetical order, without a numbering system or categories that make sense to the Reviewer.

Another challenge is that in the course of forensic financial review / Audit, drilling down into accounts one finds transactions without meaningful memo or vendor information attached - a bit tricky to determine if the transaction is in the correct place (presumably seeking GAAP compliance).

Challenges of this sort result in financial statements that are lacking actionable information, relevant KPIs and are tricky to compare to other companies due to “customization”.

How do we communicate with our clients?

We prioritize open communication with Clients. Depending on preferences, We typically communicate through a mix of in-person meetings, phone calls, video conferences, and emails. Monthly or quarterly reviews are standard, with more frequent updates as needed.

What's the difference between hiring a fractional CFO and an in-house full-time CFO?

Hiring a fractional CFO offers flexibility and leverage by having access to a Full-Stack Finance Team (CFO / Controller / Accountant) without the Full-Time burden of multiple roles. Our Clients receive expert financial guidance tailored to the Founder’s needs without the excessive overhead associated with full-time positions. It's an ideal solution for businesses that need CFO-level insights but aren't yet at a size or complexity that requires a full-time CFO / Controller.

Can you provide references from other Clients you've worked with?

Certainly! We've had the privilege of partnering with over 120 Founders over the years, and many of Momentum’s clients would be happy to share their experiences. Please let me know, and we can provide you with their contact details.