Case Study

How CFO Services Helped EquiLottery Win Big

EquiLottery Games hired Venture First to audit and organize their internal financial processes. After only eight months as a partner, Venture First delivered a few key services including auditing their financials and contract agreements, structuring the financing round, building out their financial model, and organizing their data room.

The Need

EquiLottery Games was poised for significant growth after securing a technology patent, inking several partnerships, and running a successful pilot project. To deliver on the growth Brad promised his investors, he needed a partner to build out their internal accounting processes and provide strong financial services for future positioning.

Resources

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The Story

When hired, EquiLottery Games needed to move fast. Venture First quickly added a seasoned CFO professional to their team to help provide a thorough review of their financial history and provide deep financial modeling to help drive where they needed to go next.
The partnership led to several improvements in their accounting practices, including a QuickBooks integration which provided company-wide data transparency and led to several operational improvements.
After building their product, launching a successful pilot, and landing their first customer, EquiLottery Games engaged with Venture First to help them structure terms and engage in a pool of investors to fund their growth. Several investors came in within the first 6 months.

Services Utilized

The Benefits of Hiring a Fractional CFO During a Recession

In today's competitive business landscape, it's essential to have a strong financial strategy in place to maximize growth and profitability. A fractional CFO can provide the expertise and guidance necessary to achieve these goals without the expense of a full-time CFO. By outsourcing your financial management to a fractional CFO, you can access top-tier talent, gain valuable insights into your business's financial health, and make informed decisions that drive long-term success. With their expertise in financial planning, budgeting, forecasting, and reporting, a fractional CFO can help your business navigate complex financial challenges and achieve sustainable growth. So, if you want to take your business to the next level, consider hiring a fractional CFO to help you achieve your financial goals.

The Collapse of Silicon Valley Bank: Implications for Startups and the Tech Community

This article explores the unpopular truth about business valuations, including their limitations and shortcomings. It highlights the subjective nature of valuations, their potential for inaccuracy, and their susceptibility to misuse and manipulation. It emphasizes the need for caution when using valuations and for using them as one tool among many to make informed business and investment decisions.

The Unpopular Truth About Business Valuations: Understanding their Limitations and Shortcomings

This article explores the unpopular truth about business valuations, including their limitations and shortcomings. It highlights the subjective nature of valuations, their potential for inaccuracy, and their susceptibility to misuse and manipulation. It emphasizes the need for caution when using valuations and for using them as one tool among many to make informed business and investment decisions.

6 Steps For Raising Capital and How a Fractional CFO Can Help

Raising capital is a critical step for early-stage companies looking to grow and scale. However, navigating the fundraising process can be complex and overwhelming, especially for those without a background in finance. This is where a fractional CFO can prove invaluable. In this article, we will outline the steps an early-stage company needs to take to raise capital and explain how a fractional CFO can help.

Does Your Company Need Outsourced Help?

There are many benefits to outsourcing a CFO. Outsourced CFOs allow companies to still benefit from what they would receive in-house but at a fraction of the cost. Outsourcing also saves the time from dealing with staffing, supervising, and guidelines the controller should follow.

CEO / Founder Checklist for the New Year

The beginning of the new year is a popular time for personal and professional resolutions. As a business owner and operator, now is the best time to set the strategic vision for your firm and its employees to follow for the year. If you’re not sure where to start, we’ve compiled a checklist of seven topics that you can use for inspiration

The Power of Financial Planning and Analysis: Unlocking Financial Success

Providing another option such as hiring a fractional CFO allows a company to save more money and provide more profits.

Cap Table Management

A capitalization table, often called a cap table, is a detailed spreadsheet that displays all ownership interests of a company. It shows how shareholder’s equity changes over time with different scenarios.

Dynamic Budgeting & Forecasting

Financial models combine historical company performances, market data, and assumptions about the future to forecast everything from capital needs to hiring plans.

Monthly Financial Reviews

Venture First holds monthly meetings with clients where we discuss the previous month’s financial performance and refresh the forecast. Depending on what stage our client is in, we will adjust our meeting deliverables appropriately.

Board & Shareholder Materials & Communication

Venture First helps client companies maintain clear communication with their investors and board members.

Equity & Debt Capital Structuring

We wouldn’t be where we are today without the help of Venture First. They sharpened our financial focus and built the internal structure we needed to prepare us for the next phase of growth.

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