Does your startup need a valuation?
Understanding your startup’s value is crucial in conversations with investors, co-founders, or employees – especially if those conversations should be fact-driven, and not all gut-feeling and anecdote. Some would argue that its also advisable before participating in the Shark Tank, Money Tigers or (in Denmark) Løvens Hule. But that’s just our opinion.
We specialize in business valuations tailored for startups and scaleups. Need one? Let’s talk.
Services
Warrant programs
Price applicable only to early-stage startups.
Warrant report
- A formal report documenting the equity value and the pricing of warrants, prepared for use in warrant programs in compliance with LL § 7 P, § 16, and § 24 requirements.
- DKK 20.000,-
Investor valuations
For funding rounds and negotiations
Valuation model
- A tailored valuation model designed to assess equity value and simulate multiple scenarios. Developed to support negotiations with investors, fundraising processes, and strategic decision-making.
- Based on quote
Value management
For ongoing management and value creation
Dynamic valuation model
- A customized financial model that provides management with ongoing insights into value drivers, enabling scenario analysis, performance tracking, and data-driven strategic planning.
- Based on quote
The Valuation Process
Our general framework is always adapted to fit each unique context.
- 1. Defining Scope. We align on the purpose, valuation method, and key focus areas.
- 2. The Story. We gather your history, financial figures, product experiments, learnings from engaging with customers and partners, and strategy.
- 3. Building the Narrative. We translate your input into a compelling, fact-based story.
- 4. Refining the Story. We iterate based on your feedback to ensure accuracy and clarity.
- 5. The Numbers. We collect and/or construct your financial projections.
- 6. Constructing the Financials. We build projections, assumptions, and valuation models.
- 7. Refining the Numbers. We fine-tune based on feedback for a precise, defensible valuation.
- 8. Fixing Loose Ends. We ensure consistency, accuracy, and completeness.
- 9. Finalizing. The valuation is delivered as a professional report. If used for negotiations, models where assumptions can be adjusted are added.
Our Approach to Valuations
At The Startup Valuator, we acknowledge that young firms are characterised by massive uncertainty – the essence of entrepreneurial opportunities, and that the most of their value lies in the future. Therefore, we can’t do valuations based on multiple. Instead, we do:
- Income-Based Valuation (DCF Method)We project your business’s future cash flows and discount them to present value based on its unique growth trajectory.
- Stage-Based ValuationYoung firms go through various stages of product development, early market exploration, mature market penetration, internalization etc. We account for this by modelling the stages ahead.
- Reference-Based ForecastingWe use the history of other young firms to assess to refine our projections.
- Survival Odds AdjustmentWe factor in the likelihood of business success, incorporating the uncertainty, and the probability of your startup not making it. Again, based on history, not arbitrary capital costs or similar.
- Market-Based Valuation (Relative Valuation)We compare your business to similar companies, using industry multiples like Enterprise Value/EBIT. We do this as a control mechanism, not as the primary valuation driver.
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About
With a strong foundation in valuations, Thor Hauberg, the founder of The Startup Valuator, brings a wealth of expertise to every project. Prior to founding the firm, he valued companies as an M&A Advisor, worked as part of the acquisition team at a leading tech company, and served as a Venture-Lab Director building startups. He is also a graduate of NYU Stern in Advanced Valuations with High Honors and an external Lecturer in Innovation Management at Copenhagen Business School (CBS)