The Top 20+ Fractional CFOs

See our list of the top Fractional CFOs in the US, and learn what a solid outsourced CFO can do for a startup. We also offer tips on picking and managing a Fractional CFO for your startup.

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Healy Jones
VP of Financial Strategy

If your startup is growing fast and you need someone to manage your finances, but you’re not ready to hire a full-time employee, you may need a fractional CFO. A fractional CFO is an experienced Chief Financial Officer who provides services for startups on a part-time, retainer, or contracting basis. The main responsibilities of a fractional CFO are to:

  • Manage the startup’s financial reporting.
  • Build and maintain the startup’s projections and budget.
  • Execute capital raises i.e., venture capital rounds and handle legal and negotiations for the CEO, such as leases, insurance, etc.
  • Manage and support the company’s financial infrastructure.

Fractional CFOs most commonly partner with companies to help overcome financial challenges, achieve growth, optimize strategy, implement systems, raise capital, or navigate an audit and/or transaction. The CFO should be helping translate your company’s metrics into insight that the rest of the management team can use to make strategic, important decisions such as when to make additional hires, when to ramp up sales or marketing spend, or how potential contracts will impact unit economics.

Unlike a full-time CFO who oversees and maintains all general financial strategy or an interim CFO who performs CFO duties before or between CFO hires, a consulting CFO’s duties are usually on a project basis and are specifically tuned to your company’s particular needs, challenges, or goals. This allows your company to benefit from the experience and expertise of a premium CFO without the operating costs of a full-time CFO ie. salary, benefits, and bonuses.

When does a startup need a fractional CFO?

Fractional CFOs work well for Seed and Series A-C Startups. All startups should consider hiring a Fractional CFO at least a minimum of one quarter before a new fundraise to avoid overloading the startup CEOs during a fundraise. Having a CFO to work on the projections, prepare KPIs, answer financial reporting questions - and in the best case - come with existing venture capital relationships, will drive a significant amount of leverage for the CEO during this challenging time.

The story is different for seed stage companies. Rarely, if ever, do they need a full time CFO. Rather, business founders should opt to take a Chief Operating Officer title and preserve full time positions, especially during the early stages. Instead, it is probably worth it to bring on a fractional, senior financial professional. A part-time CFO or experienced accounting CPA firm is a much better fit for most seed and Series A startups because they allow you to lower costs without sacrificing quality output.

Telltale signs your startup is ready for a CFO, despite the series round, include:

  • The CEO focuses on distracting financial reporting or projections multiple times a day..
  • The CEO and/or COO work closely on multiple client contracts with the sales team.
  • The CEO deals with multiple accounting questions a week.
  • Your startup is considering going public within the next 12 to 18 months.

Not every fast-growth company needs a fractional CFO, but when it’s time, it’s time! Past Series D, a startup will usually hire a full-time CFO to manage the now growing accounting department, expecting to pay $240K+. However, before you reach Series D, you’ll want to look seriously at hiring for this role, either part time or full time.

20+ of the Top Fractional CFOs

CFO Companies Linkedin
Steve Bennet

Steve Bennet

Palo Alto, California

True Global Ventures, Bodega Partners, Rollbar, Xenio Systems, WaterSmart Software

Solange Bullukian

Solange Bullukian

San Francisco Bay Area

Twist Bioscience, Agilent Technologies, Hewlett Packard

Adam Metzger

Adam Metzger

Brooklyn, New York

Seamless Payments, Harmony Labs, BetterPT, Civic Hall

John Shults

John Shults

Austin, TX

BackOps, Sand Hill Angels, Stephens Inc.

Douglas Jendras

Douglas Jendras

New Fairfield, Connecticut

AboveNet Communications Inc., Metromedia Fiber Network, MCI Telecommunications Corporation, IBM

Lea Dessi-Olive

Lea Dessi-Olive

San Francisco, California

Atomic, StyleSeat, Accenture Management Consulting, PNC

Jeremy Sanders

Jeremy Sanders

Los Angeles, California

UniZ Technology, Ideator, Sanders Advisors, Citizen Healthcare

Brian Plackis Cheng

Brian Plackis Cheng

Santa Barbara, California

software.com, MCI, cielo24

Bob Togie

Bob Togie

San Jose, California

Hewlett Packard, Microsoft, Ericsson, MediaKind

James Jones

James Jones

San Francisco Bay Area

Goldman Sachs, Accenture, Kana Software, Inc., Singularity University

Daniel Morton

Daniel Morton

Vancouver, Canada

Jay Goldberg

Jay Goldberg

Northern California, Remote

Qualcomm, Peregrine Semi, Deutsche Bank, Lazard, Coca-Cola

Vito Palermo

Vito Palermo

San Francisco Bay Area

Secret Golf, Procket Networks, Extreme Networks, Bay Networks (formerly SynOptics), Metawave Communications, MeSoft, Kaazing, Scancafe, University of California, Mahindra Genze, Quantivo, Innova Dynamics, Her Universe, Pareto, SDN Central, Wiretap

Mike Batesole

Mike Batesole

Bay Area

Forte Enterprise Software (Public bought by Sun), VA Software (Public), Dorado, SaaS (Private Series D round bought by CoreLogic), Shaklee, Consumer products (Public), Origin House, Cannabis (Public bought by Cresco Labs)

Bernie Mahon

Bernie Mahon

San Francisco

Chronosphere, Advano, Deep Space Industries, Morgan Stanley

Trey Pruitt

Trey Pruitt

Los Altos, CA (Silicon Valley)

TheFind (acquired by Facebook), Snapfish

Gene Domecus

Gene Domecus

Burlingame, CA

Macys.com, Bella Pictures, Rafter, Blurb, Peerspace, Freestyle VC

Deepak Gupta

Deepak Gupta

San Francisco Bay Area (Silicon Valley)

Price.com, Centric Learning, PRYNT, UNYQ, Nitros

Nitin Mittal

Nitin Mittal

New York, NY

Solera, Branded, Flow Commerce, RadioShack, The Royal Bank of Scotland, Credit Suisse

Jon Schwartz

Jon Schwartz

Minneapolis, MN and Remote

Commons, Ridwell, BookNook, Edstruments, Charter School Growth Fund

Macy Macaskill

Macy Macaskill

NY/CT/Remote

Bear Stearns, JCrew, Madewell, Rockets of Awesome

David Dinerman

David Dinerman

San Francisco Bay Area

Hapara, Inc., Probitas Partners, Grant Thornton, BigFix, Inc.,

Patrick Hoogendijk

Patrick Hoogendijk

Dallas, New York, Amsterdam, Miami

Wethos, Agora, Overproof, Bryzos, Kensu, Carketa, Tangelo, Spark, Toke

Diana Maichin

Diana Maichin

Bay Area (remote), Europe

Genentech, GE Ventures, Amgen, Codexis, Various institutional & corporate venture firms

What to look for in a Fractional CFO

Here are a few key items when hiring a senior finance professional on a contracting basis:

  • Do they know your stage? A company gearing up to get ready for a $100 million venture raise is very different from a company with more modest capital needs. You need someone who understands your stage and can propel you towards future goals.
  • Are they a specialist? If your startup operates in a specialty industry, you may need a specialist. Some industries, such as biotechnology or technology hardware manufacturing, have unique capital and cash flow needs. Finding an outsourced expert can help you craft a financial strategy unique to your business.
  • Are they paying attention? You need someone who can provide the right amount of attention to your company for the foreseeable future. Fractional CFOs are in high demand and finding someone who has enough time to dedicate to your business can be a challenge. Working with someone who doesn’t have the bandwidth to give you the attention you need could later become a massive mistake.
  • Strategic Thinking: A good fractional CFO should be able to provide strategic financial guidance, not just keep the books and handle compliance. They should be able to help you make strategic decisions, evaluate potential opportunities, and identify risks.
  • Are they compatible with your style? It is imperative you choose a partner who will compliment your leadership and management style. If you’re not a detail-oriented CEO, you’ll want to find a finance leader who is comfortable diving into the details. Remember, always look for someone who brings a perspective that compliments your style and grows the company.
  • Communication Skills: Your CFO will need to communicate complex financial information to non-financial people, including other members of your team and potential investors. They need to be able to explain things clearly and succinctly. This is particularly important if you, as a founder, don’t have a deep accounting or finance background - you need someone who can get you up to speed on key concepts, issues and financials quickly.

You’ve found the right fit. What next?

What should a Fractional CFO do at a startup?

  • Closing the monthly books and managing financial reporting.
  • Managing the budgeting process and the financial projections as well as keeping track of the company’s expected cash out date.
  • Fundraising logistics, advice, and coordination such as supplying investors with financials and other due diligence materials.
  • Contract negotiations for items like new leases and large vendor contracts.
  • Managing the company’s cash and burn as well as making recommendations around hiring or altering the burn rate.
  • Developing a short-term, mid-term, and long-term view of the business to better prepare the company’s trajectory and cash position as well as requirements.
  • Securing loans or investments and anticipating future owner compensation.

  • Enacting systems to support sustainable growth.

Fractional CFO’s are often brought into an organization to help you achieve a specific goal such as raising capital or preparing for a sale, merger, or acquisition or optimize your forward-facing financial visibility. An outsourced CFO’s services will include anything and everything the company needs to help translate the founders’ vision into reality from a financial lens.Quality startup CFOs understand the importance of translating each founder’s goal into a reality from a financial point of view and can be trusted to work with you to take your company successfully into the future.

Why bring in outside Chief Financial Officer help

Acquiring fractional CFO services for your business can revolutionize financial management and strategic planning. A fractional CFO, like those who often work with Kruze, work part-time with your team, offering high-level financial expertise without the cost of a full-time executive. This role can take on key financial tasks such as financial modeling, budget-to-actuals comparisons, and board meeting preparations. If provided the right system access, they can also track crucial metrics like customer acquisition costs and lifetime value, manage spending categories, and facilitate communication between the startup’s founder and the accounting team. In particular, Kruze loves working with experienced finance professionals who can help take on the day to day accounting administration, and free up the founder’s time to focus on growing the business.

Is a Fractional CFO worth it?

Fractional CFOs are worth the cost (sometimes as high as $10,000 to $16,000 a month) only if a startup CEO need specific financial advice and work. A part-time finance leader may be worth it if the business needs streamlined financial reporting, oversight on budgeting, better projections, fundraising help, They also step into negotiation roles, handling contract negotiations for new leases or large vendor contracts, and actively manage your startup’s cash and burn rate, making recommendations on optimizing resources. Additionally, a fractional CFO develops short-term, mid-term, and long-term financial strategies to fortify your startup’s trajectory and cash position, assists in securing loans or investments, anticipates future owner compensation, and implements robust systems to support sustainable growth. Fractional CFOs are often brought on board to achieve a specific goal, such as raising capital or preparing for a sale, merger, or acquisition, thereby translating the founder’s vision into a financial reality. So, if your startup is aiming to leverage financial expertise without committing to a full-time hire, a fractional CFO can indeed be an invaluable asset.

What do Fractional CFOs Cost?

Fractional CFOs - at least the most experienced finance leaders we recommend to startup founders - usually charge in one of two ways: hourly or by the day/month. Hourly costs can range from $250 to $500 an hour. Daily or monthly costs are anywhere from several thousand dollars a day to over $10,000 for multiple days in a month. Most part-time finance professionals are looking for a recurring relationship and don’t tend to do one off projects. Instead, they choose to work with companies that they can support over the longer term on a variety of projects from fundraising advice to financial modeling, board meeting preparation, and operational management. 

How to get solid fractional CFO help

To secure fractional CFO services for your business, consider reaching out to reputable accounting firms like Kruze. Another route is to ask your investors if they have specific individuals who have helped similar companies. Keep in mind, the ideal candidate should not only have financial expertise but also experience in your industry, understanding of your business model, and a cultural fit with your team. Hiring a fractional help can not only help you streamline your financial operations but also offer strategic insights to aid your business’s growth.

What does a fractional CFO cost?

Fractional CFOs typically have one of two main pricing structures. The first is an hourly rate - we are seeing rates from $250 to $500 an hour - or they charge by the day, with a commitment of one to two days per week. Please note the video below has somewhat dated pricing.

The pricing structure of fractional CFOs is significantly influenced by their capacity to manage multiple clients simultaneously. As they typically work with anywhere from three or four clients to up to eight clients, their pricing model needs to reflect not only the value they provide but also the time they can allocate to each client.

If they charge an hourly rate, generally between $250 to $500, the total cost for a client will depend on the number of hours dedicated to that client. However, the client should be mindful that the executive’s time is divided among several clients, which might limit their availability. This is a common issue we see with founders who are fundraising or doing a more complicated transaction.

Alternatively, if the CFO charges a fixed monthly fee, it implies a commitment to dedicate a specific amount of time, often one full day per week, to the client’s business. This model provides more predictability in cost and guaranteed time allocation. However, it’s crucial to ensure that the CFO isn’t overextended, as this could compromise the quality and value of their service. Another item to note is that many startups have their executive meeting on Monday mornings - which can make it impossible for an outsourced executive juggling multiple clients to appear on every client’s Monday morning call.

It’s worth noting that despite juggling multiple clients, a good Fractional CFO will maintain transparency about their availability and capacity, ensuring they can deliver the necessary value to each of their clients. We’ve found that the best ones are able to take a ton of work off of the founder’s plate, while simultaneously improving the company’s financial reporting and strategy.

Written by experienced Fractional CFOs

Vanessa Kruze, CPA, is the founder of Kruze Consulting. Kruze serves as the accounting, tax and CFO leader for hundreds of VC-backed startups. Visit author page
Healy Jones is the VP of Financial Strategy at Kruze Consulting. His team works as fractional CFOs for dozens of startups, assisting on everything from modeling to fundraising. Visit author page

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