What a fractional CFO does in the three months before a raise
- Rebuilds the model so that revenue, margin, hiring and cash reconcile to the bank statement, and so that every assumption has a line an investor can challenge.
- Builds the data room: historicals, cohort data, contracts, cap table, the things a lead investor's associate will ask for on day two.
- Sets the raise amount and the runway it buys, so the ask is a number the founder can defend rather than a round number.
- Rehearses the founder on the numbers. The finance questions in a partner meeting are predictable and the answers should be too.
- Runs diligence from the inside once the term sheet lands, so the founder keeps selling while the CFO keeps the process moving.
Why fractional, and why the top 1%
A full time CFO before a seed or Series A is a salary the company cannot justify and a hire that takes a quarter to make. A fractional CFO is in the room in days, for the days the raise needs, at a published day rate of £800 to £1,500 on this bench.
The difference between a good fractional CFO and a great one is whether they have closed this round at a company like yours. The top 1% have. They know what the lead investor's model looks like, what the diligence list says, and which of your numbers will be questioned first. That is what the bench is for: operators whose last two roles are a founder's next two years, verified by hand before they go live.
Seed, Series A, Series B
| Round | What the CFO is for | Days a week |
|---|---|---|
| Seed | A model that holds together and a founder who can explain it | One, for two months |
| Series A | Unit economics, cohort data, the hiring plan and the data room | Two, for three months |
| Series B | A finance function investors can diligence, forecasting accuracy and the first full time finance hire | Two to three, ongoing |
UK, US and UAE rounds
The raise looks different in each market and the CFO should have closed one in yours. UK rounds lean on SEIS and EIS at the early stages and R&D tax relief in the model. US rounds run on SAFEs and priced rounds with a different diligence rhythm. UAE rounds increasingly involve regional funds, free zone structures and a cap table that spans jurisdictions. The bench lists fractional CFOs in all three markets, filterable by country, with the rate published in each currency.
After the round
The same CFO usually stays on at one day a week after the close: the board reporting, the budget, the first finance hire. The after-the-raise guides cover the first ninety days and the path to a full time finance function.
Common questions
When should a startup hire a fractional CFO for a raise?
Two to three months before the raise opens. That is enough time to rebuild the model, assemble the data room and rehearse the founder, and it means the CFO is already inside the numbers when diligence starts. Hiring after the term sheet is still worth it, but the leverage is gone.
How much does a fractional CFO cost during a fundraise?
The published band on this bench is £800 to £1,500 a day, and a Series A raise typically needs two days a week for about three months. The rate is on every profile, so the cost can be modelled before the first call.
Can a fractional CFO talk to investors directly?
Yes, and the best ones do. Investors expect to meet the person who built the model, and a CFO who has closed the round before is a credibility signal in the room. The founder still leads the raise; the CFO carries the numbers.
More of them, on hiring, contracts and what a fractional engagement costs, on the fractional executive FAQ.