Startups & Technology
From Seed Stage to Series A and Beyond.
The Landscape
Speed is your currency, but governance is your safety net. Investors today demand 'Due Diligence Ready' books from Day 1. Startups struggle to balance aggressive growth with the rigid demands of Company Law and Taxation.
Key Challenges
Valuation & Angel Tax
Cash Burn Visibility
Equity Management
What We Offer
Virtual CFO
Fundraising Support
ESOP Advisory
Global Expansion
Who this is for
Startups come to us between the first cheque and the Series A, when the books have to satisfy an investor, a bank or a tax officer. That includes founders who have just raised a seed round, teams issuing ESOPs, companies preparing a data room, and Indian entities with a parent or subsidiary abroad.
We work with the founder and a part-time finance lead, and we are explicit about what has to be fixed before diligence starts rather than during it.
We are comfortable with a company that is still building its finance function. The work is prioritised around the next event, such as a round, a bank account or a first audit, rather than a perfect system that arrives too late.
How we work with Startups & Technology businesses
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Readiness review
We review the cap table, statutory registers, accounting records, tax filings and related-party transactions, and rank the gaps by deal risk.
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Clean-up
Backlog filings, reconciliations and documentation are closed, and the chart of accounts is set up for investor reporting.
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Reporting and compliance
A monthly MIS covers burn, runway and unit economics; the statutory calendar covers GST, TDS, ROC and FEMA filings.
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Transaction support
For a raise, we build the model, prepare the data room and manage the diligence questions with your lawyer.
The SCORE Advantage
What you can expect
The company enters diligence with a file that answers the obvious questions quickly. Founders spend their time on the business rather than reconstructing history, and the valuation conversation rests on numbers that can be defended. The same readiness work is useful before a bank facility or an ESOP round, not only before an equity raise.
Frequently asked questions
When does a startup need a statutory audit?
Every company incorporated under the Companies Act needs an annual audit, whatever its size or funding stage. A startup cannot skip the audit because it is small; it can, however, keep the audit simple by maintaining clean records from the first transaction.
How should we structure an ESOP pool?
The pool size, vesting schedule and exercise price should be approved before the round, with the tax and accounting treatment documented. We model the dilution and work with your lawyer on the scheme and the disclosures. The scheme, the board and shareholder approvals and the valuation should all be in place before the grant letters go out.
What is angel tax and does it still apply?
Section 56(2)(viib) can tax a share premium above fair market value received from a resident investor. A Rule 11UA valuation and the prescribed documentation support the price; the position should be reviewed before the allotment. The valuation date, the investor category and the filings all matter, so the position should be checked before allotment.
Can a virtual CFO help before a raise?
Yes. A virtual CFO builds the model, cleans the reporting, prepares the data room and manages diligence. That is usually more valuable than adding a full-time hire a few months before the round. It also keeps the founder in the room with the investor rather than in the spreadsheets.
Do we need a subsidiary abroad?
It depends on where your customers, investors and intellectual property sit. We help compare a Delaware C-Corp, a Singapore entity and an Indian subsidiary, and coordinate the FEMA and ODI filings with your advisers. We also consider where the intellectual property sits, because that often decides the structure.
What does diligence usually find?
Backlog ROC filings, undocumented related-party payments, ESOP approvals missing, GST mismatches and a revenue recognition policy that does not match the contracts. Most of these are fixable if they are found early. A readiness review a quarter before the round is usually enough to close them without delaying the deal.
Should we convert to a private limited company?
If you are raising from institutional investors, a private limited company is usually the right structure. We work with your lawyer on the conversion, the tax position and the opening balance sheet. The timing matters, so the conversion should be planned before a term sheet is signed.
Do investors require an audit before funding?
Institutional investors usually require audited accounts for the last financial year and a review of the current year. A clean audit history shortens diligence, while a backlog of filings is often the reason a round slips by a month. This is also useful before a bank facility.