Just Raised Your Seed Round? Here's Your 90-Day Finance Checklist
Congratulations on raising your seed round! Now comes the critical part—setting up the financial foundation that will carry you to Series A. This 90-day checklist ensures you don't miss anything important while the wire hits the bank.
Weeks 1-2
Immediate actions
Weeks 3-4
Foundation
Month 2-3
Optimization
Why the First 90 Days Matter
You've just closed a $1.5M-$4M seed round. The pressure to start spending and building is immense. But the financial decisions you make in these first 90 days will either set you up for a smooth Series A or create headaches that haunt you for years.
This isn't about bureaucracy—it's about building the infrastructure that lets you focus on product and customers without financial surprises derailing your progress.
Week 1-2: Immediate Actions
These are the actions you need to take before you start deploying capital. Get these right and everything else becomes easier.
Banking Setup (Day 1-3)
- Open a dedicated business checking account at a startup-friendly bank (Mercury, SVB, First Republic)
- Set up a sweep account for excess cash if over $250K (FDIC limits)
- Get corporate credit cards with proper spending limits
- Establish a petty cash/expense policy before anyone asks
- Set up autopay for recurring expenses
Accounting Foundation (Day 3-7)
- Choose your accounting software (QuickBooks Online is the standard)
- Set up your chart of accounts properly from day one
- Hire a bookkeeper or engage a startup-focused accounting firm
- Establish your monthly close process
- Document all pre-funding expenses for proper capitalization
Legal & Compliance (Day 7-14)
- Ensure 409A valuation is ordered or updated
- Update your cap table with the new round
- Set up proper equity tracking (Carta, Pulley, or Shareworks)
- File any required state registrations
- Establish employee contractor classification policy
Week 3-4: Financial Foundation
With the basics in place, it's time to build the financial model that will guide your spending and growth.
Build Your Financial Model
Create a 24-month financial model with revenue projections, headcount plan, and expense forecasts. This becomes your operating playbook.
Calculate True Runway
Don't just divide cash by burn. Model scenarios: current pace, aggressive hiring, conservative spending. Know your options.
Headcount Planning
Map out hiring priorities with fully-loaded costs. Most founders underestimate true employee costs by 20-30%.
Budget by Department
Allocate budget to R&D, Sales, G&A. Even if it's just you, track spending by function for future clarity.
Your First Financial Model Should Include:
- Revenue tab: Monthly recurring revenue projections with assumptions documented
- Headcount tab: Each planned hire with start date, salary, and benefits
- Operating expenses: All non-headcount costs by category
- Cash flow: Monthly cash in/out with ending balance
- Scenario tabs: Best case, base case, and conservative scenarios
Month 2: Systems and Processes
By now you should be spending capital. Month 2 is about ensuring you have the systems to track that spending and maintain financial hygiene.
Weekly Finance Rhythm
- 15-minute cash position check
- Review pending invoices and payments
- Update revenue tracking
- Flag any unexpected expenses
Monthly Close Process
- Reconcile all accounts by the 10th
- Review P&L against budget
- Update financial model actuals
- Board update preparation
Essential Tools to Implement
- Expense management: Ramp, Brex, or similar for automated categorization
- Payroll: Gusto, Rippling, or Justworks for HR/payroll combo
- Bill pay: Bill.com or Routable for AP automation
- Metrics dashboard: Visible, Causal, or simple Google Sheets for investor updates
Month 3: Optimization and Planning
You now have two months of post-funding data. It's time to analyze, optimize, and start thinking about Series A metrics.
Financial Health Check
- Compare actual spend vs. budget—where are the variances?
- Recalculate runway with actual burn rate
- Identify any expenses that can be reduced or eliminated
- Evaluate vendor contracts for better terms
Series A Prep Starts Now
- Identify the 3-5 key metrics investors will care about
- Set up tracking for those metrics if you haven't already
- Begin documenting your growth story with data
- Plan for when you'll need to start Series A conversations
Board and Investor Relations
- Establish your board update format and cadence
- Send your first formal investor update
- Schedule your first board meeting if you haven't
- Create a data room template for future fundraising
Common Mistakes to Avoid
Mixing Personal and Business Expenses
Even small instances create audit nightmares. Keep everything separate from day one.
Waiting to Hire Finance Help
Founders who wait until things are messy spend 3x more cleaning up. Get help early.
Ignoring Burn Rate Until Cash Gets Low
Track monthly from day one. Surprises at 6 months of runway are too late to fix.
Over-Hiring Too Fast
The instinct is to staff up immediately. Pace your hiring to match product-market fit progress.
Tools and Resources
Here's the essential stack we recommend for seed-stage startups. Start simple and add complexity as you grow.
Banking
Mercury, SVB, or First Republic for startup-friendly banking with modern features and integrations.
Accounting
QuickBooks Online is the standard. Pair with a startup-focused bookkeeper for best results.
Payroll & HR
Gusto for simple setups, Rippling for growing teams that need HR bundled with IT.
Financial Planning
Start with a good spreadsheet model. Graduate to Causal or Jirav as you scale.
Just Closed Your Seed Round?
Let us help you set up the financial foundation that will carry you to Series A. We specialize in helping newly funded startups get their finance operations right from day one.
Schedule a Free Consultation