A full-time CFO at pre-Series A is almost always overkill. The work is high-stakes but episodic — monthly MIS, cash-flow forecasting, investor reporting, fundraising prep. A Virtual CFO, billed monthly, gives you partner-level oversight without the salary, ESOPs and ramp-up of a full hire.
What a good Virtual CFO actually owns
Monthly MIS — P&L, balance sheet, cash flow — delivered by the 7th of the following month with variance commentary. A 13-week rolling cash-flow forecast updated weekly. A board pack for every quarterly investor update. Vendor and customer credit decisions above a defined threshold.
Just as importantly: what a Virtual CFO does NOT own. Day-to-day bookkeeping, vendor payments, payroll processing — these belong to an accounts manager. Mixing the two is the single most common dysfunction we see at startups in the ₹5–25 Cr revenue band.
Fundraising readiness
Pre-Series A, the Virtual CFO leads the data-room build: 3 years of audited financials, monthly MIS, cohort retention, gross-margin walk, cap table, ESOP register, IP register, key contracts. We typically spend 4–6 weeks building this before the term sheet conversations start.
Investors are increasingly running deep diligence on revenue recognition, deferred revenue and gross-margin definitions. Getting these right with your CFO before the round opens is non-negotiable.
Cost and engagement model
A senior partner-led Virtual CFO engagement at Regikart runs ₹50,000–₹1,50,000 per month depending on scope. That's ~10–20% of the loaded cost of a full-time CFO at the same seniority — and you get the firm's audit, tax and advisory partners around the table when the work demands it.
About the author
Anjali Verma, CA
Partner, Virtual CFO at Regikart. Want to discuss this in the context of your business?
