Margin you can’t see per SKU
Revenue looks great; profit doesn’t. A vCFO builds contribution margin per SKU and channel — net of ad spend, shipping, RTO and fees.
Know which rupee of growth actually pays.
Virtual CFO for D2C & E-commerce Brands
Senior CA / ex-banker–led fractional CFO support for Indian D2C and e-commerce brands — contribution margin after ad spend, blended ROAS, marketplace reconciliation, inventory finance and fundraise support, at a fraction of a full-time CFO’s cost. A vCFO who shows you which SKUs and channels make money — and which you’re scaling at a loss. ₹4,250 Cr+ mobilised across 100+ mandates since 2011.
CA / ex-banker led Contribution-margin clarity Fundraise-ready
A track record since 2011, in numbers
₹4,250 Cr+
Group capital facilitated since 2011₹550 Cr
Largest single facility structured100+
Deals advised end to end20–40 hrs
Structured bandwidth per monthSince 2011
CA / ex-banker, senior on every fileA Virtual CFO for a D2C brand is a senior finance leader embedded part-time with operating accountability — built for scaling brands that need true contribution margin, clean marketplace reconciliation and a fundraise-ready model, but don’t yet justify a full-time ₹50 L–1.5 Cr CFO hire. Unlike an external advisor, the vCFO owns the numbers month on month.
Where D2C margins disappear
The finance gaps that hide inside a growing brand
Top-line growth is easy to celebrate and easy to misread. For a D2C brand the truth is in contribution margin — and these are the gaps a virtual CFO closes.
Marketplace reconciliation chaos
Settlements, fees, returns and TCS across Amazon, Flipkart, Shopify, Meesho and quick-commerce — reconciled to one view tied to your books.
Scaling spend behind losers
Blended ROAS hides channel-level losses. We separate new vs repeat, channel by channel, so you scale what actually pays.
Inventory eating the cash
Cash locked in stock and in-transit, financed by expensive credit. We plan inventory and working capital to free it up.
RTO & returns untracked
Return-to-origin and refunds silently destroy margin. We bring RTO, returns and refunds into the contribution view.
A fundraise with shaky unit economics
Investors price D2C on CAC, LTV and payback. We build the unit-economics model that stands up in diligence.
Three ways to engage
Three engagement models — fitted to your stage
From full-stack monthly bandwidth to a fundraise-linked sprint. Fees are indicative and scoped case-by-case on scale, channels and cadence.
Model Scope Duration Fees range Best for
RetainerMost popular ScopeFull-stack CFO bandwidth — contribution margin, reconciliation, MIS, cash Duration12+ months Fees range₹50k–2 L / month Best forScaling D2C & e-commerce brands
Fundraise-Linked ScopeModel, unit economics, pitch financials, data room, term-sheet support Duration3–6 months Fees rangeRetainer + success fee Best forAn active equity or debt round
Project-Based ScopeDefined deliverable — contribution-margin model, reconciliation cleanup Duration2–4 months Fees range₹2 L–10 L / project Best forOne-time finance-function fix
Indicative — scoped case-by-case based on scale, channels and cadence. Every model is led by a senior CA or ex-banker, with a support resource executing under partner oversight. For the full breakdown, see our full Virtual CFO service, or how virtual CFO pricing works.
What we own month on month
The D2C finance function, owned — not advised on
From the contribution-margin P&L to the fundraise model, we run the finance function end to end so the numbers are clean, current and investor-ready every month.
01
Contribution-margin P&L
A true margin view per SKU and per channel — net of COGS, ad spend, shipping, RTO, returns and platform fees — so you scale what actually pays.
02
Marketplace & gateway reconciliation
Settlements, fees, returns and TCS across Amazon, Flipkart, Shopify, Meesho, quick-commerce and payment gateways — reconciled to one view tied to your books.
03
Unit economics & ROAS
CAC, LTV, blended and channel ROAS, contribution and payback — the metrics that decide whether growth is worth funding.
04
Inventory & working capital
Inventory planning, a 13-week cash forecast and working-capital lines so growth isn’t starved of cash. See our 13-week cash flow guide.
05
Fundraise & diligence
Pitch and IM financials, the model, the data room and term-sheet support — through to close. Need inventory or working-capital debt? We syndicate it via corporate finance.
06
GST, compliance & MIS
Multi-state GST, TCS, TDS and ROC on a managed calendar, plus a monthly MIS your investors read. We work on Tally, Zoho or our group’s TatvaBooks.
Why a vCFO earns its keep
CFO-grade judgement, sized to a brand
Senior finance leadership, contribution-margin clarity and fundraise firepower — on a structured monthly cadence, with the flexibility to scale up during a raise and step back after.
Senior CA / ex-banker lead
No junior pass-through — partner-led, by people who read the numbers the way an investor or credit committee will.
Margin truth, not vanity revenue
Contribution margin per SKU and channel — so spend, discounts and launches are decided on profit you can see.
Fundraise firepower
A unit-economics model and data room from people who have closed debt and equity — so your raise starts warm.
Cash for inventory
Working-capital lines and inventory planning so a growth spike doesn’t become a cash crunch.
Flexible by stage
Scale up during a raise, step back after — month-to-month with 30-day notice after the minimum term.
Confidentiality first
NDA at kick-off; books, model and board papers stay ring-fenced to the named engagement team — nothing leaves the room.
Process
How an engagement runs — from scoping to monthly cadence
A clear path from first scoping call to a steady monthly cadence, with the named partner on the file at every stage.
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Scoping call
1 dayChannels, scale and pain points — we map where margin clarity, reconciliation and cash stand today.
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Diligence
3–5 daysBooks, channel data, ad accounts and inventory review, with a baseline of finance-function and fundraise readiness.
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Engagement design
2 daysScope, cadence, deliverables, fees and the lead partner confirmed — locked into a signed engagement letter.
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Kickoff & SOPs
week 1NDA, the contribution-margin template, reconciliation SOPs and first-month deliverables — the engine starts turning.
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Monthly cadence
ongoingMonthly contribution-margin MIS, reconciliation and cash management — the vCFO owns the numbers month on month.
Who we work with & what we need to start
Built for scaling D2C & e-commerce brands
We work with brands from early traction to scale across categories — and we know exactly what we need to get margin, reconciliation and cash under control.
Categories we work with
CA / ex-banker–led, Mumbai & Pune-based, serving D2C brands across Bengaluru, Delhi NCR, Mumbai, Pune and pan-India.
What we need to start — onboarding checklist
- Latest financials & current trial balance
- Channel/marketplace settlement reports
- Ad-account spend exports (Meta, Google)
- Inventory & COGS data
- Bank statements & cap table (if funded)
- KYC of company, founders and directors
Indicative — varies by scale and channels. A mutual NDA is executed before diligence begins.
Why Finnova
Why D2C founders choose Finnova as their Virtual CFO
Four reasons brands hand us the numbers — and keep us on file through each round.
01
Contribution-margin truth
Margin per SKU and channel, net of every cost — so growth decisions are based on profit you can see, not top-line vanity.
02
Reconciliation that ties out
Marketplace and gateway settlements reconciled to your books — the leak most brands never fully close.
03
Debt & equity firepower
₹4,250 Cr+ mobilised — so whether you raise equity or inventory/working-capital debt, the fundraise starts warm.
04
Track record
100+ deals since 2011 across sectors — a finance partner with real market reach, not a first-timer on your cap table.
Consultation
Tell us where the finance function stands
One conversation tells you the right engagement model, the cadence that fits your stage and how fast we can stand up a true contribution-margin view. No pitch — just a straight read from senior people who own numbers for a living.
Thank you — your enquiry has been submitted
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FAQ
Virtual CFO for D2C brands, answered
For a D2C or e-commerce brand, a virtual CFO owns the contribution-margin P&L (after ad spend, shipping, RTO and fees), marketplace and payment-gateway reconciliation across Amazon, Flipkart, Shopify and quick-commerce, inventory and working-capital planning, unit economics (CAC, LTV, blended ROAS, payback), GST across states, and the fundraise model — the finance leadership a scaling brand needs without a full-time CFO.
By building a true contribution-margin view per SKU and per channel — netting ad spend, shipping, RTO, returns and platform fees — so you can see which products and channels actually make money. Most brands discover they are scaling spend behind loss-making SKUs or channels; fixing that mix is usually the fastest profit win.
Yes. Reconciling settlements, fees, returns and TCS across Amazon, Flipkart, Shopify, Meesho, quick-commerce and payment gateways is a core part of the engagement — it is where D2C brands most often leak money and lose visibility. We bring it onto one reconciled view tied to your books.
D2C engagements typically run ₹50,000 to ₹2 lakh per month depending on scale, number of channels and whether a fundraise is live, against ₹50 lakh to ₹1.5 crore a year for a full-time CFO. Fundraise-linked mandates can be structured as a retainer plus a success fee.
Every mandate is led by a senior CA or ex-banker — you deal with the named partner directly, not a rotating bench of junior staff. A second support resource handles execution under partner oversight.
Further reading
The virtual CFO question, explained in our Resources
What a virtual CFO is, what it costs, and how cash forecasting works. For the complete service, see our full Virtual CFO service.