FAQ

GRAY Financial Modelling is a specialist financial modelling consultancy founded by an ex-VC investor. We help businesses, investors, and finance teams build, review, and improve financial models — from early-stage startup forecasts to complex corporate transaction models. Whether you need a model built from scratch or an existing one stress-tested, we're here to help.

The GRAY Process is a structured consulting approach developed by GRAY Financial Modelling to deliver precise, actionable financial models tailored to each client’s unique business needs. It begins with an in-depth discovery phase to understand your financial goals and operational challenges. Next, the team designs a customized modelling framework that integrates robust data analysis with scenario planning to forecast outcomes accurately. Throughout the process, transparent communication and iterative reviews ensure the model aligns with your strategic objectives and remains adaptable to changing market conditions. Once built, each model receives the GRAY 'investor-hat' review - where Joe Hartman, Founder of GRAY and an ex-VC investor, reviews the model through the eyes of an investor, providing a sense check and feedback on key assumptions, outputs and metrics.

Our clients range from early-stage startups preparing for their first funding round, to established businesses going through a transaction or strategic planning process, to investment professionals who need a reliable model to support their decision-making. We work across a variety of sectors and company sizes.

The timeline for building a financial model depends on its complexity. A simple startup forecast might take a few days, while a detailed model for a Series A or exit could take 3–4 weeks. Complex project finance models may need 4–6 weeks. We’ll agree on a timeline upfront and keep you updated along the way.

Of course! Our model audit and review service is designed to give you confidence in your financial model. Whether it's one you've built yourself or inherited, we’ll check for errors, test the logic, assess the structure, and provide a clear, actionable report with our findings and recommendations.

We work across a broad range of sectors including technology, financial services, real estate, healthcare, energy, and consumer businesses, among others. Financial modelling principles are largely universal, and our founder's investment background means we've been exposed to a wide variety of business models and industries. If you're unsure whether we've worked in your sector before, just ask — chances are we have.

Our work is delivered in Microsoft Excel, which remains the industry standard for financial modelling.

Pricing depends on the scope and complexity of the project, and we're happy to be creative about how we structure it. For most engagements we work on a fixed fee, so you know exactly what you're paying upfront. But we also understand that different situations call for different arrangements — particularly for startups or transaction-based work — so we're open to discussing success fees, equity or options, or hybrid structures that combine elements of all three. Get in touch and we'll find an approach that works for both sides.

Getting started is easy! Just reach out through our contact page or drop us an email. We’ll set up a quick discovery call to understand your needs, timeline, and goals. After that, we’ll send over a proposal and, once you’re happy, we’ll get to work.

Financial modelling is our specialty — it’s what we do every day. With our founder’s VC investor background, we know exactly what investors want. That means faster turnarounds, fewer errors, and models that are both technically sound and genuinely useful for decision-making.

We create all kinds of financial models, including three-statement models, cash flow forecasts, valuation models (like DCF and LBO), scenario analysis tools, and investor-ready models for fundraising, project financing, or exits. Got a specific need? Let’s chat and find the best solution for you.