Fractional CFO for B2B e-commerce companies
B2B e-commerce P&Ls look more like distribution than consumer e-commerce. Order values are larger, gross margins thinner, terms run net 30 to 60, and rebates, growth incentives and tier discounts pull invoice gross margin to a meaningfully different net number. Customer concentration is real and DSO sits at the centre of working capital.
Most of the work is the gross-to-net bridge - rebates, growth incentives, MDF and tier discounts that only show up in accruals - alongside concentration reporting, AR ageing and channel-partner economics where the business sells through resellers. The commerce layer has to reconcile back to the ERP.
Flow provides fractional CFO, financial modelling and FP&A to B2B e-commerce companies across industrial and MRO, healthcare and life sciences, foodservice and hospitality supply, construction and building materials and horizontal distribution platforms. Startup CFO support across distribution and B2B commerce operators.
KPIs to track for "B2B e-commerce" startups
We're very 'KPI-driven' fractional CFOs, and we make sure to monitor the right metrics for your startup.
GMV
Net revenue
Active customers
AOV
Gross margin
Repeat order rate
DSO
Payment terms mix
Customer concentration
Channel mix
Financial modelling for "B2B e-commerce" 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.
Invoice gross-to-net bridge
Walks list price down through volume rebates, growth incentives, MDF and tier discounts to the true gross margin a buyer would see in diligence. Forces the accrual stack into the operating model rather than leaving it as a year-end surprise.
DSO and working capital model
AR ageing by customer cohort and payment-terms band, with cash conversion modelled against net 30, 60 and 90 books. Sizes the funded gap between order acceptance and customer payment as the business scales.
Customer concentration and credit exposure
Revenue and AR concentration mapped against the top 5, 10 and 20 customers, with a credit-loss reserve modelled per cohort. Makes the cost of losing a large account explicit before the renewal cycle arrives.
Channel and reseller economics
Direct, marketplace and reseller channels modelled on separate contribution lines with their own margin, MDF and float assumptions. Shows where channel partner economics quietly undercut going direct and where they earn their margin.
Repeat-order cohort model
Customer cohorts tracked by reorder frequency, basket expansion and SKU diversification over 12 to 36 months. Anchors the retention assumption used for forward revenue against actual behaviour rather than account-management optimism.
Payment terms and float P&L
Card, ACH, trade-credit and embedded-finance mix modelled with the interchange, factoring fee and credit-loss cost loaded per channel. Reveals the true cost of offering net terms versus the customer adoption it buys.
Founders and investors we've worked with
We've supported winning builders across B2B e-commerce and beyond.
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.
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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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Hector
We acted as fractional CFO to Hector Aurumi, a Dubai-based specialist software house with AI/ML, IoT and data science expertise, providing confidential valuation guidance to the management team.
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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.
See moreRecent fractional CFO track record
See our fractional CFO and financial modelling experience across B2B e-commerce and beyond.
Simple pricing
No hidden costs, no complicated long-term contracts. We understand how important flexibility is for B2B e-commerce 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 e-commerce & marketplaces companies.
Our fractional CFO experience spans across all e-commerce & marketplaces verticals.
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We know tech inside & out.
We provide fractional CFO services to companies operating across the entire tech.
More services
We help you scale by providing fractional CFO advice, through fundraising and a successful M&A exit.
VC fundraising for B2B e-commerce 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 B2B e-commerce 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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