Finance and operations templates · Excel
Startup Finance Kit
Ten Excel templates for a fictional fintech start-up
Fictional company. Mirovest GmbH is fictional, and so is every person, vendor and transaction in the kit. Illustrative calculation — not investment, tax or legal advice.
Risk warning. Crypto-assets are highly risky; copy trading can lose money, including the entire amount invested.
What the kit is
A working set of finance and operations templates for an early-stage company: one integrated financial model, one quick model for top-down what-ifs, three reference books, three planning tools and two monthly reports. Each workbook is standalone, keeps its data inside the file and tells you which cells you may change. Use the kit to learn the mechanics and as a starting structure for your own work.
All files describe one fictional company, Mirovest GmbH, a Berlin start-up founded in January 2027. It runs a social-investing and copy-trading marketplace for retail investors in Germany and Austria: users connect their own exchange accounts, follow verified lead traders and, once the company holds a crypto-asset service licence, can copy their trades automatically. Mirovest never holds client money or crypto-assets; it earns subscription fees, copy fees and business licence fees. The company runs lean, with 16 people. A €12m Series A in July 2028 is the last planned round.
Written for founders who need a fundraising model, a budget and a runway view; for finance leads and analysts who want a reference structure for assumptions, KPIs, accounts and monthly reporting; and for students who want one complete, checked example instead of isolated formulas.
- Company
- Mirovest GmbH (fictional), Berlin, founded in January 2027
- Business
- Social-investing and copy-trading software marketplace, non-custodial: it never holds client money or crypto-assets
- Plan
- 60 months, January 2027 to December 2031, with invented actuals for January–June 2027
- Cases
- Base, Upside and Downside; Original Budget and Latest Estimate
- Currency, language
- EUR · English
- Release
- CR02-2026-10-13-v1 · data frozen on 13 October 2026
The ten files
If you open only one file, open D10: its Dashboard shows the plan on one page, and its How_To_Use sheet explains the rest. For a quick what-if, open D20. No file has macros, add-ins or links to other workbooks; 26.7 MB in all.
Models
The integrated model and a quick top-down model.
- D10
Integrated financial model
The core of the kit: revenue drivers, team, costs, VAT, taxes and funding produce a monthly P&L, balance sheet and cash flow for 60 months. Use it to size a funding round, set the annual budget and see how long cash lasts.
D10_Mirovest_Financial_Model.xlsx
36 sheets · 18.6 MB - D20
Quick model
Top-down what-ifs: type revenue, growth and costs per year, and it extrapolates 60 months of P&L, cash, funding and an indicative exit for all three cases at once.
D20_Quick_Model.xlsx
13 sheets · 245 KB
Reference books
What each input is, what each KPI means, where each posting goes.
- D01
Assumptions register
Every input D10 uses, with its value per scenario, unit and origin: the answer to “where does this number come from?”
D01_Assumptions_Register.xlsx
8 sheets · 4.5 MB - D02
KPI dictionary
One definition per KPI, each tied to its row in D10, so the board, investors and the team calculate it the same way.
D02_KPI_Dictionary.xlsx
4 sheets · 25 KB - D03
Chart of accounts and cost centres
The bridge between plan and actuals: accounts, posting templates, cost centres and reporting views, with a method for mapping your own ledger.
D03_Chart_of_Accounts_Cost_Centres.xlsx
11 sheets · 357 KB
Planning tools
Unit economics, hiring and payroll, and the frozen annual budget.
- D11
Unit economics calculator
Does a customer earn back what it cost to win them? LTV, CAC, LTV/CAC and payback for one cohort and channel, in a small, fast file.
D11_Unit_Economics_Calculator.xlsx
10 sheets · 349 KB - D12
Headcount and payroll plan
Turns a hiring plan into the full German employer cost per person and month: salary with raises, social insurance up to its ceilings, levies, recruiting, software and IT equipment.
D12_Headcount_Payroll_Plan.xlsx
12 sheets · 1.5 MB - D13
Budget FY2027
The approved FY2027 Base budget, frozen by account, cost centre and month: the yardstick for budget-vs-actual and burn variance.
D13_Budget_FY2027.xlsx
10 sheets · 261 KB
Monthly reports
Burn, runway and costs on six months of invented actuals.
- D18
Burn and runway report, June 2027
The monthly cash conversation: cash on hand, burn against budget, and when cash or regulatory capital would run short, both with the planned rounds and with no new money.
D18_Burn_Runway_Report_2027-06.xlsx
16 sheets · 578 KB - D19
Cost report, June 2027
Cost control: accrued costs for January–June 2027 against the frozen FY2027 budget, by account, cost centre and vendor, with a commentary template.
D19_Cost_Report_2027-06.xlsx
15 sheets · 331 KB
SHA-256 checksums of the files
- D10_Mirovest_Financial_Model.xlsxa7b07711dc89a2116693acee5bd253b4b0e7f31a92c5e8e16284e5cc1bf2d2f9
- D20_Quick_Model.xlsx7595ad0b34038bdcf8a8a0cd6803bd35383a762cec927a701b7ea1cf70f330f2
- D01_Assumptions_Register.xlsxdcec9b8f1bdfde1a8993c3f407b6d84faf728fe2db8d799a1a85dae8970ba505
- D02_KPI_Dictionary.xlsx5a5be6b22028a82993b1e36109fa2dcddabd699fa6aa7cac95518400a1b721d3
- D03_Chart_of_Accounts_Cost_Centres.xlsxb73f5d924875edc79fd2b58f9df4076d35ab9db05ae2e9c0962a76c9da3a8025
- D11_Unit_Economics_Calculator.xlsxd582e47e196eea9b07336750e64c960808c22526b94363dc9aa269dcc39eca76
- D12_Headcount_Payroll_Plan.xlsx295475f9668e4907a03b2804c4ea43dbfd9a0cc2f366c5d4a10e71efe664cb5b
- D13_Budget_FY2027.xlsxdb0bd116f1284f71173edd9cebf33580b232209e1ab1a8ec8a64ef3f2ce72920
- D18_Burn_Runway_Report_2027-06.xlsx0b79731b42741109163feee1bf21b66ddc9505c9cfc73d96bb0a50bc6f75d20c
- D19_Cost_Report_2027-06.xlsxcc379934c80e00754f4d40334f41392d2ded352f1cd37f83acdd7efe1f96bc02
How the files fit together
There are no links between the files. An arrow means “built from” or “frozen from”, never a live connection. Anything one file takes from another was fixed on 13 October 2026. If you edit D10, the companion files stay as they are; to carry a change across, make it in each file.
Common inputs
One frozen data pack (13 October 2026): assumptions, people, cost lines, accounts, KPI definitions, policies, sources and an invented ledger for January–June 2027. Each workbook embeds the part it needs.
What travels between the files, and the conventions they share →
Key results (illustrative)
D10 at release: Original Budget, with the planned rounds. Illustrative figures for a fictional company — not a forecast and not a valuation opinion.
| Result | Base | Upside | Downside |
|---|---|---|---|
| Revenue 2031 | €5.73m | €15.0m | €1.55m |
| EBITDA 2031 | −€1.00m | +€4.27m | −€3.74m |
| EBITDA positive from | not reached | June 2030 (M42) | not reached |
| Cash, December 2031 | €6.43m | €17.2m | €0.83m |
| Exit value: enterprise / equity | €27.5m / €34.0m | €73.3m / €90.5m | €7.3m / €8.1m |
- The indicative exit is 4.0 times the recurring revenue run-rate of December 2031 (M60), plus cash, less any note outstanding. In Base, the Seed’s €4m returns 1.56 times (10.7% a year), the Series A’s €12m 0.93 times (−2.0%), and the founders keep 30.4%, fully diluted.
- The funding plan is the same in all three cases: founders’ capital (€25,000) and a €1.0m convertible loan in January 2027, a €4m Seed at €8m pre-money in August 2027 and a €12m Series A at €20m pre-money in July 2028. No later round is planned.
- In Base, EBITDA stays negative in every month to December 2031, although the monthly loss narrows to about €26,000.
- The Downside is a deliberate stress case: own funds fall below the MiCA own-funds requirement from October 2031 (M58) to December 2031, by at most about €0.72m in M60, while cash stays positive. The model is not adjusted to hide this.
How the kit was verified
Verification answers one question: does each workbook calculate what its written rules say, in the program you use? It does not show that the assumptions are realistic or that the treatments are legally correct. All checks were run on the final release files, identified by their checksums.
Independent re-implementation
A second calculation engine, written from the written rules and the input data alone, was compared cell by cell with copies of D10 recalculated by Excel: 14 sets and 458,562 values across three scenarios, two versions and two funding paths. No value differed beyond tolerance (€0.01 for money). The eight companion files were checked against the same source data, and a separate implementation of D20’s own rules reproduced 9,766 of its values.
Native Excel checks
All ten files were opened, fully recalculated, saved and reopened in Microsoft Excel on Windows with no error cells. D10 was switched through all six scenario and version settings and tested in eight cases of 3,003 values each, from a stream switched off to full capacity; the worked edits of the other files and 18 cases in D20 matched their expected values.
LibreOffice
All ten files open and recalculate in LibreOffice 26.8 with the same values as Excel, including the scenario and version settings and the edit tests. Saving from LibreOffice is not claimed.
Release scan
An automated scan read every part of every file for macros, links to other workbooks, hidden sheets, local file paths and author details. All ten files passed.
Independent audit
A reviewer who built none of the files recomputed revenue, the P&L, cash, the milestones, the round table, the exit values and the capital headroom for all three scenarios. Every figure agreed; the open points concern presentation and wording only.
What the checks cannot tell you
Whether the Mirovest assumptions fit your business, whether the regulatory, tax, payroll and accounting treatments are right (they remain “to verify”), or whether a copy you have edited is still consistent: for that, use its Checks sheet.
Compatibility
Tested in Microsoft Excel (Windows, Microsoft 365): opens, recalculates, edits and saves. LibreOffice 26.8: opens and recalculates with identical results; saving from LibreOffice is not claimed. Google Sheets: not tested.
The guide
For every file, the guide says why you need it, what it shows, what you can change, how it connects to the others and where its limits are, with typical workflows, the scenarios, the checks and a glossary. It takes about 25 minutes to read.