D2C Personal Care Brand — Building a Virtual CFO Function Before a Funding Round
A founder-led brand had scaled to ₹14 crore in three years, but its finance function hadn't kept pace. With a term sheet on the table and five weeks on the clock, NDSA built an investor-ready CFO function from the ground up.
Real growth, but a finance function left behind
A founder-led personal care brand had scaled from zero to ₹14 crore in three years, selling mainly through Instagram and marketplaces. The growth was real, but the finance function hadn't kept pace — a single bookkeeper closed the books once a month, and there was no MIS, no channel-wise profitability view, and no one who could speak the language investors needed.
A term sheet was on the table, but it came with a condition: clean, audit-ready financials and monthly reporting before due diligence could begin, with only five weeks on the clock.
An outsourced CFO function, built in weeks
NDSA stepped in as the brand's outsourced CFO function. In the first week, we rebuilt the chart of accounts to separate revenue and margins by channel — D2C website, marketplaces, and COD — so profitability stopped being a guess.
We then set up a monthly MIS, built a three-year financial model for the data room, and worked directly with the investor's finance team on queries so the founder could stay focused on closing the round rather than fielding spreadsheets.
"For founders raising capital, the gap between a smooth round and a stalled one is often the finance function sitting behind it — NDSA builds that function, so the founder doesn't have to learn it under pressure."
The round closed at the target valuation
Due diligence wrapped up without a single delay, and the round closed at the valuation the founder had walked in with. The investor flagged the quality of financial reporting as one of the reasons diligence moved as fast as it did.
NDSA continues as the brand's outsourced CFO post-funding, with the same MIS now feeding board reporting.
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