Fractional CFO for online payments companies
Payments operators have to decide and defend gross or net revenue reporting under ASC 606 - the principal-versus-agent question shapes the entire P&L. Interchange, scheme fees and acquiring costs sit against gross processing volume; the residual is net revenue and the number investors price on. Settlement timing, merchant float, reserves against chargebacks and FX spread all affect the income statement and working capital, and the largest payments businesses in the world have been re-audited on this question.
The CFO work is the TPV-to-net-revenue bridge by merchant segment and channel. Scheme and acquiring cost allocation has to be granular enough that contribution margin by channel is visible; reserves and chargeback provisioning have to be modelled on actual historical performance; the working capital model has to reflect the real cash cycle. Cross-border FX exposure on settlement timing needs explicit hedging policy.
Flow provides financial modelling, FP&A and fractional CFO advisory to online payments companies across PSPs and gateways, acquiring and processing, B2B and cross-border payments, payment infrastructure and integrated payments for software platforms.
KPIs to track for "online payments" startups
We're very 'KPI-driven' fractional CFOs, and we make sure to monitor the right metrics for your startup.
TPV
Net revenue
Net take rate
Gross margin
Active merchants
Cross-border share
Authorisation rate
Chargeback rate
Merchant retention
Settlement float
Financial modelling for "online payments" startups
As fractional CFOs, we build KPI-driven financial models that are insightful and easy to maintain.
Financial modelling is both art and science - models must be robust, but also understandable, and useful for both internal planning and VC fundraising purposes. Hire a fractional CFO who knows how to handle both sides of the equation.
TPV to net revenue bridge
Gross processing volume stepped down through interchange, scheme fees and acquiring cost to net revenue and net take rate, with the ASC 606 principal-versus-agent treatment defended by merchant cohort. The bridge that determines reported revenue, not commentary.
Net take rate by segment
Blended take rate decomposed by merchant size, vertical, card-present versus CNP and domestic versus cross-border. Surfaces where the genuine pricing power sits and where competitor pressure is compressing margin.
Chargeback and fraud reserves
Reserve walk built off historical chargeback rates by merchant cohort, with scheme fines and dispute costs accrued as they emerge. Sized to survive the worst merchant the platform onboarded last quarter.
Settlement float and working capital
Merchant settlement timing, scheme settlement cycles and reserve-holdback economics modelled into the cash conversion cycle. Distinguishes operating cash from float and prevents one being read as the other.
Cross-border FX economics
Cross-border volume run through the FX markup, scheme cross-border fees and the platform's hedging policy on settlement exposure. The line acquirers value most highly and the one most often misallocated to take rate.
Merchant cohort retention
Net revenue retention by merchant cohort segmented by acquisition channel and vertical, with contraction and churn separated from price compression. Tells the board whether topline holds up if the new merchant funnel slows.
Founders and investors we've worked with
We've supported winning builders across online payments and beyond.
Marcura
We acted as fractional CFO to Dubai-based Marcura, owner of maritime payroll and B2B payments platform MarTrust, advising on the strategic e-Wallet vendor selection and supporting product/finance integration.
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Bonart
We've worked as fractional CFO with Bonart, a Zurich-based independent Swiss strategic advisory and execution platform for PE and investor fundraising, providing long-term confidential valuation guidance.
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Lemonade
As a fractional CFO we performed a confidential valuation of Lemonade, the publicly listed full-stack insurer powered by AI and behavioral economics, supporting Elevator Fund's portfolio management.
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TBô
We acted as fractional CFO to TBô, a Zurich-based tech-enabled DTC male underwear brand, building a bottom-up financial / operating model with cohort-level KPIs and positioning the company for its next venture round.
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Onlogist
We acted as fractional CFO to Onlogist, a Hamburg-based online marketplace for last-mile vehicle transfer, providing confidential valuation guidance and operating model support.
See moreRecent fractional CFO track record
See our fractional CFO and financial modelling experience across online payments and beyond.
Simple pricing
No hidden costs, no complicated long-term contracts. We understand how important flexibility is for online payments startups.
Per month
- Accounting / FP&A tech stack implementation
- Monthly financial statements and reporting pack
- Quarterly board pack with detailed financial analysis (with variance analysis vs. budget, relevant KPI observations etc.)
- Investor-friendly output
Per month
- Everything in Core, plus
- Operating model (via an online platform like Runway or Excel-based)
- Ongoing model maintenance, refining projections, burn/runway management
- Customer cohorts modelling, churn and retention analysis
- LTV / CAC, unit economics analysis
- Cap table management
Per month
- Everything in Grow, plus
- M&A / fundraising support; review of business plan
- Pitch deck preparation
- Investor approach strategy / list building
- Due diligence support and deal negotiation
- Valuation as required and free access to Multiples Pro
Packages shown are illustrative, final pricing is tailored to client requirements.
Explore our fractional CFO offering for similar verticals
We're a specialized fractional CFO to fintech companies.
Our fractional CFO experience spans across all fintech verticals.
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We know tech inside & out.
We provide fractional CFO services to companies operating across the entire tech.
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We help you scale by providing fractional CFO advice, through fundraising and a successful M&A exit.
VC fundraising for online payments companies
We help you prepare materials, reach out to investors in our extensive network, negotiate fair term sheets and structure the VC round.
Learn moreM&A for online payments companies
We advise winning tech companies on M&A exits, and over the years successfully executed numerous transactions with both financial and strategic buyers.
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