Sergei Kalachev, ACCA
I am an ACCA-qualified finance leader who works with early-stage founders on the one thing that decides a raise: whether your numbers survive contact with an investor. I have supported 15+ startups through fundraising and diligence, and secured $5M+ in non-dilutive funding along the way with an 85% approval rate.
My focus is narrow on purpose. I am not a generalist bookkeeper and I am not a full-time hire you have to justify to your board. I am the fractional CFO you bring in when the round is real and the numbers have to be right - the model, the data room, the investor updates, and the person who sits beside you when diligence gets hard.
What a Fractional CFO Does for a Fundraising Startup
Not generic finance help. The specific work that gets you to a term sheet and through diligence.
Runway & burn model investors trust
A driver-based model that ties headcount, spend, and revenue to a monthly cash balance. When an investor asks what changes at half the raise, you answer in the meeting, not next week.
Board decks that pass scrutiny
A clean board package: KPIs, budget-vs-actuals, cash bridge, and the three decisions you need from the room. No 40-slide data dumps, no numbers that contradict each other.
Diligence-ready data room
The financial section a lead will actually open: reconciled historicals, cohort and unit economics, cap table, contracts, and a model whose assumptions survive questions.
Investor updates that keep the round warm
Monthly updates with the metrics that matter and an honest read on cash. The reporting rhythm that turns interested angels into a term sheet and keeps existing backers leaning in.
Close oversight, so the numbers are real
Oversight of your bookkeeper's monthly close so the P&L, balance sheet, and cash actually reconcile. Diligence dies on messy books; we make sure yours are clean before anyone looks.
Non-dilutive funding to extend runway
Where you qualify, we pursue technology credits and grants that add months of runway without touching your cap table. 15+ startups supported, $5M+ secured, 85% approval rate.
Three Moments, One Buyer
Start with a fixed-fee audit, move to a monthly retainer, and step up to embedded support when you are actively in market. Same relationship, matched to where you are.
Fundraise Readiness Audit
Know exactly where the gaps are before you raise.
- Full review of your model, metrics, and assumptions
- Data room gap analysis against what a lead will ask
- Runway and burn reality check versus your plan
- Prioritized fix list and a raise-readiness scorecard
- 60-minute working session to walk through findings
Ideal for
Founders 3-6 months from a raise who want to fix problems before investors find them. The fee is credited if you move to a retainer.
Core Retainer
Your ongoing CFO between rounds.
- Monthly close oversight so books stay diligence-ready
- Runway and burn model kept current every month
- Board deck built and reviewed ahead of each meeting
- Investor updates drafted on a monthly cadence
- KPI dashboard and budget-vs-actuals tracking
- On-call for investor and finance questions
Ideal for
Seed and pre-Series A startups that need senior financial leadership on a steady cadence without a full-time CFO hire.
Raise / Embedded
In the trenches for your active raise.
- Everything in the Core Retainer
- Full data room build and live diligence support
- Real-time model changes during investor conversations
- Direct participation in diligence and investor calls
- Scenario and dilution analysis on term sheets
- Priority access - one active raise at a time
Ideal for
Founders in market right now who need a CFO embedded through close. Limited availability by design so each raise gets full attention.
The Fundraise Readiness Audit fee is credited in full toward your first month if you move to a retainer.
No long-term lock-in on the retainer. The Raise / Embedded tier carries a 90-day minimum because a raise cannot be done in weeks.
How We Work Together
A simple path from first call to closed round.
Fit call
A 30-minute call to understand your stage, your raise timeline, and the state of your numbers. If a fractional CFO is not what you need, I will tell you.
Readiness audit
We start with the audit: a clear-eyed look at your model, metrics, and data room, plus a prioritized fix list. You get value in the first three weeks, not the first quarter.
Retainer or raise support
From there we move into the retainer that fits your moment - steady support between rounds, or embedded support through an active raise. The audit fee credits toward it.
Every engagement is led personally by an ACCA-qualified CFO. Your numbers are handled by someone who has been in the diligence room, not handed off to a junior.
Frequently Asked Questions
Straight answers on scope, cost, and when a fractional CFO makes sense.
What does a fractional CFO do for a fundraising startup?
A fractional CFO gives you senior financial leadership part-time. For a startup that is raising, that means a runway and burn model investors trust, a board deck and investor updates that hold up under scrutiny, and a data room built to survive diligence. You get the expertise you need to close a round without the salary and equity of a full-time hire.
What is the difference between a fractional CFO and a bookkeeper?
A bookkeeper records transactions and keeps your books current. A fractional CFO owns the strategic layer: the model, the runway, the fundraise narrative, and the numbers you put in front of investors and your board. Bookkeeping tells you what happened; a fractional CFO tells you what it means and what to do next. The two roles complement each other - I work alongside your bookkeeper, I do not replace them.
How much does a fractional CFO cost?
It depends on how much you need. A one-time Fundraise Readiness Audit is $3,500 and the fee credits toward a retainer. An ongoing Core Retainer for seed and pre-Series A companies is $6,000 per month for roughly 15-20 hours. Embedded support through an active raise runs $10,000-12,000 per month for 25-35 hours with a 90-day minimum. A full-time CFO in the US typically costs $250,000 or more in salary plus meaningful equity, so a fractional arrangement is a fraction of the cost.
When should a startup hire a fractional CFO?
The clearest trigger is a raise. If you are 3-6 months from going to market, or already in conversations, that is the moment senior financial help pays for itself. The other common trigger is when your board or existing investors start asking for numbers you cannot produce quickly. Most of my engagements are seed to pre-Series A.
Do you replace our accountant or bookkeeper?
No. I sit above your bookkeeper and accountant, not in their seat. They handle the day-to-day records and compliance; I oversee the close, build the strategic model, and own the story your numbers tell to investors and the board. Keeping your existing team in place is usually the most cost-effective structure.
Why limited availability on the Raise / Embedded tier?
An active raise needs real-time attention - model changes during a call, diligence requests turned around same-day, direct participation in investor conversations. I take one embedded raise at a time so the founder in market gets my full focus rather than a slice of it.