Startup Financial Model — Cap Table, DCF Valuation & 5-Year Projections

This Excel model helps startup founders and financial analysts build credible financial projections and understand their company’s valuation and runway. It includes a full 5-year revenue and expense projection, a cap table that tracks ownership and dilution across funding rounds, a DCF valuation model, and a real-time runway calculation based on actual accumulated cash (not a fixed monthly burn assumption).

The model is built to withstand real-world scrutiny: the cap table keeps share price consistent with your pre-money valuation across rounds, the DCF includes built-in protection against WACC falling below the terminal growth rate, and a negative cash alert warns you before you run out of runway. A sensitivity analysis sheet lets you stress-test key assumptions like growth rate, churn, and burn rate, and a clarifying note explains the revenue methodology used for Year 1 (monthly build-up) versus Year 2+ (annual growth rate). All formulas are fully visible and unlocked for complete transparency.

This template is ideal for startup founders preparing for a fundraising round, financial analysts building projections for a portfolio company, consultants supporting early-stage clients, and students learning startup finance. Format: Excel (.xlsx), no macros required, compatible with Excel 2016+ and Google Sheets with minor formatting adjustments.

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