A complete Seed financial model for E-commerce startups. Revenue model, unit economics, hiring plan, cash flow projections, and funding scenarios — structured for investor review.
Projection Horizon
3 years (monthly for Year 1, quarterly for Years 2-3)
Model Tabs
7 core tabs
Format
Excel + Google Sheets
Path to Series A metrics and the unit economics that prove the business model. Seed investors model the path from current to Series A-level KPIs.
Ecommerce models must separate first-order economics from repeat-order economics. Investors will calculate blended CAC payback — if your first order loses money, you need repeat purchases to break even. Show this explicitly.
GMV-based model with take rate, return rate, and fulfillment cost structure. Build customer cohorts tracking first purchase, repeat purchase rate, and declining reorder intervals.
Seed models should have a clearly documented assumption page. Every assumption should include a source (comparable company benchmark, customer interview data, or market research). Avoid top-down market share assumptions.
Show base case (on-plan), downside (50% of plan), and recovery timeline from downside. Include a Series A readiness milestone tracker showing the KPIs required to raise.
A Seed E-commerce financial model should cover 3 years (monthly for Year 1, quarterly for Years 2-3) of projections with these tabs: Assumptions Dashboard, Revenue Cohort Model, Unit Economics, Headcount Plan, P&L Summary, Cash Flow Forecast, Series A Bridge. Path to Series A metrics and the unit economics that prove the business model. Seed investors model the path from current to Series A-level KPIs.
GMV-based model with take rate, return rate, and fulfillment cost structure. Build customer cohorts tracking first purchase, repeat purchase rate, and declining reorder intervals. The key revenue drivers are: Gross Merchandise Value (GMV) by category; Net revenue after returns and refunds; Subscription membership revenue (if applicable); Marketplace or third-party seller revenue.
E-commerce unit economics at the Seed stage should include: Average Order Value (AOV) trend; Gross margin by product category; Customer Acquisition Cost (CAC) by channel; Repeat purchase rate and purchase frequency; LTV by customer vintage at 12, 24, 36 months. Ecommerce models must separate first-order economics from repeat-order economics. Investors will calculate blended CAC payback — if your first order loses money, you need repeat purchases to break even. Show this explicitly.
Seed models should have a clearly documented assumption page. Every assumption should include a source (comparable company benchmark, customer interview data, or market research). Avoid top-down market share assumptions. Start with the smallest unit of your business (one customer, one transaction, one seat) and build up from there. Every assumption should have a source or benchmark you can defend in an investor meeting.
Show base case (on-plan), downside (50% of plan), and recovery timeline from downside. Include a Series A readiness milestone tracker showing the KPIs required to raise.
Get the E-commerce Seed financial model as a pre-built Excel and Google Sheets template. Assumptions dashboard, revenue model, unit economics, and cash flow — ready to customize.
Includes Excel file, Google Sheets version, and model documentation guide