Financial Projections for Fundraising

What Investors Look for in Projections

• Investors don't expect accuracy in year-5 numbers—they evaluate the quality of your thinking, assumptions, and internal consistency
• Show a clear narrative: how you acquire customers, how revenue scales, when you hit key milestones (break-even, cash flow positive)
• Present bottoms-up projections grounded in current metrics (conversion rates, pipeline, sales capacity) rather than top-down TAM math
• Include a clear use-of-funds breakdown showing how this round's capital translates into specific milestones and next-round metrics