Finmark launched in May 2020 and has been on a rocket-ship trajectory ever since.
Launched by Essaid, Jeremy Neuberger and Greg Lissy, Finmark secured a $5 million oversubscribed seed round of funding a few short months after launch. The team saw an incredible amount of interest from both investment funds and angel investors, with more than 14 firms and 30 angels participating in the round. This level of interest underscored the need for a tool like Finmark, as many of these investors want to move away from the complex Excel spreadsheet modeling that is relied upon today.
Finmark’s software eliminates the need for complex spreadsheets with an easy-to-use platform, so founders can easily create, update, and share their financial metrics and plans. Finmark takes complex financial concepts and calculations and distills them down into a simple-to-use interface so founders can easily create and share their financial plans, manage burn rate and cash, forecast revenue and expenses, and plan for fundraising.
Finmark was built so anyone, not just CFOs or finance execs, can easily make and update a financial model without having to spend weeks updating complicated spreadsheets, allowing founders to focus on what’s most important – growing their business.
More than 200 customers are now leveraging the power of the Finmark platform to take the guesswork out of building a customized financial model. Despite only launching a little over a year ago, Finmark is continuously adding new features and functionality to help these customers launch and grow their businesses (and take away the headache of financial modeling).
These include:
- Scenario Modeling: Users can create and manage multiple financial plans with options to directly compare two models within the platform, so founders can be prepared for any scenario that comes their way.
- Planning & Budgeting: With Finmark, founders can plan headcount, forecast expenses and track budget – all in one tool.
- Data Formulas & Visualization: Users can track, forecast and visualize key metrics, without having to worry about inputting data or formulas incorrectly.
Finmark also recently launched Get Funded with Finmark, an opportunity for customers to leverage the power of the Finmark network to help with fundraising. Finmark customers upload their pitch deck directly into Finmark to get matched with dozens of the best investors, including Bessemer, Village Global, and Draper & Associates. With Get Funded with Finmark, founders can get funded faster.
Having sound financial plans and modeling is incredibly important for a startup, but no one has time for it the way it is currently done. Ultimately, Finmark wants to help support more successful startups by eliminating one of their biggest risks – poor cash and runway management, and is well on its way to fully disrupting the financial modeling industry for startups and investors alike.
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