In this episode of Financial Modeler’s Corner, host Paul Barnhurst welcomes Andres Klaric, the co-founder and co-CEO of Fuse. In their conversation, Andres discusses common financial modeling mistakes, how startup models differ from corporate M&A models, and what investors truly look for when evaluating projections. He also shares firsthand experiences on navigating the fundraising process, balancing work ethic with personal life, and the strategic approach to scaling a company.

Andres Klaric is the co-founder and co-CEO of Fuse, a next-generation loan origination system designed to streamline lending for financial institutions through self-serve customization, a low-code API builder, and personalized agent portfolios. Andres shares his journey from investment banking and private equity to launching a fintech startup that’s reshaping loan origination. He provides insights into financial modeling for startups, securing venture capital, and the critical lessons he’s learned from Wall Street.

Expect to Learn:

• The biggest mistakes and horror stories in financial modeling.
• How startup financial models differ from corporate M&A models.
• The key factors venture capitalists look for in startup projections.
• Lessons from private equity and investment banking that shaped Andres as a CEO.
• The art of balancing complexity and simplicity in financial modeling.

Here are a few quotes from the episode:

• “The biggest mistake in startup modeling? Overcomplicating things when simple assumptions will do.”
• “Modeling for investors and modeling for internal operations are two completely different things.”
• “A bad financial model won’t kill your startup, but a bad go-to-market strategy will.”

This episode with Andres Klaric was packed with insights on financial modeling, fundraising, and the lessons learned from both Wall Street and the startup world. From the importance of keeping financial models simple to navigating investor expectations, Andres provided a masterclass on startup finance and strategic thinking. Hard work, strategy, and the ability to adapt will always outweigh an over-engineered spreadsheet.

Follow Andres:

• LinkedIn - https://www.linkedin.com/in/andresklaric/
• Company: https://www.fusefinance.com/

Follow Paul: 

• Website - https://www.thefpandaguy.com   
• LinkedIn - https://www.linkedin.com/in/thefpandaguy  
• YouTube - https://www.youtube.com/@thefpaguy8376  

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In today’s episode:

[02:59] - Worst Financial Model Horror Stories

[08:57] - The Journey to Founding Fuse

[11:53] - Lessons from Wall Street

[18:07] - Financial Modeling for Startups

[23:05] - How VCs Evaluate Startup Models

[25:06] - Fundraising Strategies & Finding the Right Investors

[32:07] - Rapid-Fire Financial Modeling Q&A

[42:34] - Final Advice & Closing Thoughts