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Dhruv Tandan, Finance Expert in Hyderabad, Telangana, India
Dhruv Tandan

Finance Expert in Hyderabad, Telangana, India

Member since June 4, 2018
Dhruv has worked on successful fundraises and consulting projects worth over $1 billion, with a focus on energy, tech, food, and life science projects across Asia, the US, and Africa. He is a partner at a consulting firm and has more than a decade of experience in fundraising, startup consulting, process improvement, M&A, and project finance. With an MBA in finance, Dhruv enjoys the exposure and sheer variety of assignments that come with freelancing.
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Employment

  • Finance Expert

    2018 - PRESENT
    Toptal Projects
    • Built detailed financial models for both the holding and project companies for a $5 million pre-Series A funding. The client, Genh.co, is an innovative modular hydropower generation company in the United States.
    • Prepared the financial model and cash flow forecasts for Refactr.it, a US-based B2B SaaS company, for a $5 million pre-Series A fundraising.
    • Constructed the financial model and valuation for a US-based medical device company with $500,000 in annual revenue in preparation for a Series A fundraising.
    • Drew up the financial model and strategy for Gigworks.co, an eCommerce company and freelance community in SE Asia, targeting a $1 million seed in fundraising.
    • Composed the consolidated and standalone model for four business units of an American nutrition company experiencing hyper-growth. The financial model included customer funnels, CAC, LTV, three statements, sensitivities, and variance analyses.
    • Prepared the detailed three-statement financial model and reporting formats for iSocrates.com, an enterprise SaaS product and service company, for fundraising and internal KPI tracking. Provided ongoing support to them on FP&A and related models.
    • Developed a financial model for three geographies for a $40 million turnover B2B SaaS company in workforce management. The model included customer funnels, LTV/CAC, payback calculations by region, hiring plans, and three-statement forecasts.
    • Built the detailed financial model for four separate revenue channels for a funded US-based healthtech company with SaaS product and service offerings. The model included cohort analysis, customer funnels, LTV/CAC, and three financial statements.
    • Assisted Eligo Energy, a leading energy retailer in the USA. Improved the functionality and accuracy of their consolidated financial model. Built out the cohort analysis, churn, error checking, summary reports, and model audit.
    • Contributed expertise to Evryman, a US social health and wellness company, on their first fundraising round approximating $1-2 million. Prepared detailed financial models for all revenue channels, financial KPI tracking, cohort analysis, and LTV/CAC.
    Focus areas: Break-even Analysis, Financial Statement Preparation, Marketplaces, Platforms, Financial Analysis, Financial Reporting, eCommerce, Health & Wellness, Energy, Software as a Service (SaaS), Venture Capital, Business Planning, Revenue & Expense Projections, Early-stage Startups, Valuation, Startups, Financial Modeling, Startup Consulting, Financial Planning & Analysis (FP&A), Pitch Decks, Fundraising, Consumer Products, Discounted Cash Flow (DCF), Technology, Seed Fundraising, Excel Modeling, Reporting, Excel Expert, Cryptocurrency, Three-statement Modeling, Consumer Packaged Goods (CPG), Pitch Deck Consultant, P&L Forecasting, Cash Flow, Subscriptions, Online Sales, Business Models, Microsoft Excel, SaaS, Venture Funding, Venture Debt, Clean Energy, Green Energy, Cash Flow Modeling, Profitability Analysis, Enterprise SaaS, Forecasting, Finance Structures, Business Structuring, M&A (Buy-side), Excel 365, Valuation Modeling, Financial Reporting Dashboards, Dashboards, Key Performance Indicators (KPIs), Customer Acquisition Cost (CAC), Finance, Finance Management, Cash Flow Management, Financial Management, Business Strategy, B2C, Business to Consumer (B2C), Business to Business (B2B), Profit & Loss (P&L), Revenue Projections, Revenue Modeling, Revenue Analysis, Monthly Recurring Revenue (MRR), Loans, Loans & Lending, Credit/Debt, Fundraising Consultant, Financial Forecasting, FPA, Budgeting, Feasibility, Renewables, Alternative Energy, Project Bidding, Sensitivity Analysis, Analysis of Variance (ANOVA), Financial Statements, Pro Forma Financial Statements, Operating Models, Financing, Debt Financing, Total Addressable Market (TAM), Accounting, Key Performance Metrics, Customer Lifetime Value, Subscription Pricing, Cohort Analysis, Board Reporting, Investor Reporting, Deal Analysis, Investments, ROI, Return Analysis, Excel 2016, Excel 2013, Budget Modeling, P&L Analysis, Startup Funding, Early-stage Funding, Angel Investing, Financial Advisory, Financial Data, Contract Drafting, Contract Review, Contract Negotiation, Contract, Risk Analysis, Due Diligence, Medical Devices, Direct to Consumer (D2C), Financial Services, Healthcare, United States, Singapore, Medtech, Health, Go-to-market Plans

  • Partner

    2017 - PRESENT
    AND Business Consulting
    • Prepared the detailed three-statement financial model, valuation, and LTV and CAC calculations for an electric vehicle corporation's $21 million Series A round and upcoming $65 million Series B round.
    • Secured the term sheet for $750,000 of angel funding for the master franchisor of F45 Training, a leading international fitness chain. Prepared the information memorandum, pitch deck, and financial model and reviewed investor term sheets.
    • Carried out market research on the life sciences, education, and industrial infra sectors for Cerestra, a leading private equity firm (Cerestra.in), raising a $300 million fund and seeking to list it as a REIT/InvIT.
    • Elaborated the business plan, market entry strategy, and financial model for a leading hotel chain seeking to diversify into D2C food products for their online and offline distribution models. The product has been pilot-launched.
    • Obtained $1 million of the angel and venture capital funding for Our Food (Ourfood.co.in), an agri-tech startup. The funding was needed to expand its domestic operations. Prepared the business plan, pitch deck, financial model, and term sheets.
    • Built detailed financial models for the World Bank to help monitor the performance of select power distribution companies in India with revenues over $5 billion.
    • Carried out the financial and commercial due diligence, valuation, and financial modeling for the M&A buy-side transaction of a Canadian data center company on behalf of an angel investor group. It led to successful investment in the target company.
    • Assisted Deccan Healthcare (Deccan.healthcare), a wellness product company, to raise $6 million from its 2018 IPO by preparing the company information memorandum and financial model.
    • Prepared the information memorandum, pitch deck, and financial model for a $3 million fundraise for Zystus (Zystusnutraceuticals.com), an Indian nutraceutical company.
    • Drew up the project feasibility report, financial model, and pitch deck for an integrated 50 MW $150 million natural gas to a bitcoin mining project in Alberta, Canada. Fundraising is currently in progress.
    Focus areas: Break-even Analysis, Debt, Financial Statement Preparation, Health & Wellness, Software as a Service (SaaS), Startups, Energy, Pitch Decks, Venture Capital, Valuation, Market Sizing, Financial Planning & Analysis (FP&A), Revenue & Expense Projections, Business Plan Consulting, Financial Analysis, Financial Reporting, Interim CFO, Financial Modeling, Finance Process Improvement, Process Improvement, Corporate Finance, Mergers & Acquisitions (M&A), Transaction Structuring, Angel/Seed Funding, Fundraising, Investor Presentations, Business Planning, Finance Strategy, Virtual CFO, CFO, eCommerce, Consumer Products, Cryptocoin Mining, Bitcoin, Natural Gas, Market Research, Discounted Cash Flow (DCF), Technology, Seed Fundraising, Excel Modeling, Reporting, Excel Expert, Blockchain & Cryptocurrency, Bitcoin Mining, Three-statement Modeling, Consumer Packaged Goods (CPG), Pitch Deck Consultant, P&L Forecasting, Cash Flow, Telehealth, Subscriptions, Online Sales, Business Models, Microsoft Excel, SaaS, Crypto, Venture Funding, Venture Debt, India, Clean Energy, Green Energy, Cash Flow Modeling, Due Diligence Consultant, Profitability Analysis, Data Rooms, Enterprise SaaS, Forecasting, Finance Structures, Business Structuring, Excel 365, Valuation Modeling, Financial Reporting Dashboards, Dashboards, Key Performance Indicators (KPIs), Customer Acquisition Cost (CAC), M&A (Sell-side), Manufacturing, Finance, Finance Management, Cash Flow Management, Financial Management, Business Strategy, B2C, Business to Consumer (B2C), Business to Business (B2B), Profit & Loss (P&L), Revenue Projections, Revenue Modeling, Revenue Analysis, Monthly Recurring Revenue (MRR), Loans, Loans & Lending, Credit/Debt, Fundraising Consultant, Financial Forecasting, FPA, Budgeting, Feasibility, Renewables, Alternative Energy, Project Bidding, Sensitivity Analysis, Analysis of Variance (ANOVA), Financial Statements, Pro Forma Financial Statements, Operating Models, Financing, Debt Financing, Total Addressable Market (TAM), Accounting, Key Performance Metrics, Customer Lifetime Value, Board Reporting, Investor Reporting, Deal Analysis, Investments, ROI, Return Analysis, Excel 2016, Excel 2013, Budget Modeling, P&L Analysis, Startup Funding, Early-stage Funding, Angel Investing, Financial Advisory, Financial Data, Contract Drafting, Contract Review, Contract Negotiation, Contract, Risk Analysis, Due Diligence, Capital Budgeting, Medical Devices, Direct to Consumer (D2C), Data Analysis, Software, Logistics, Agriculture, Healthcare, Food & Beverage, United States, Singapore, Health, Tableau, Retail & Wholesale, Data Centers, Data Center Infrastructure, Private Equity, Go-to-market Plans, Indian Companies Act, Complex Transaction Agreements, Market Sector, Investor Agreements, Market Estimates, Share Purchase Agreements, Term Sheets, Term Sheet Negotiations, Project Development, Education

  • Senior Manager

    2012 - 2017
    Spark Infra Advisors Pvt
    • Led a cross-functional team for the end-to-end project development for a $3 million solar power project. Handled all activities, from bid submission to financial closure to successful design, construction, and commissioning of the project.
    • Handled project financing activities (contract analysis, financial analysis, modeling, and documentation) for Sarayu Group for a $15 million wind power project. Phase 1 ($3 million) was successfully commissioned, and the rest is under implementation.
    • Provided project financing support, including contract analysis, financial analysis, modeling, and documentation, for KVK Group's $50 million solar power project in Nigeria. The agreement was executed, and the project is under implementation.
    • Performed due diligence, contract drafting, and negotiation for KVK Group to sell a coal power project in India, completing the transaction successfully.
    • Built a financial model and analyzed contracts for a client's tariff dispute with the state electricity board. Settled the claim in favor of the client with a claim amount of around $3 million.
    • Carried out financial feasibility and detailed cost of real estate investments in the residential, commercial, and mixed-use sectors for an HNI/Angel investor. The client completed the investment of $10 million based on the assessments.
    • Provided contract drafting, negotiation, and investor documentation for Sarayu Group to sell a wind power project in India, thereafter the transaction was completed.
    Focus areas: Break-even Analysis, Debt, Financial Statement Preparation, Energy, Valuation, Market Sizing, Financial Modeling, Revenue & Expense Projections, Energy Sector Expert, Financial Analysis, Financial Reporting, Power Purchase Agreements (PPA), Financial Planning & Analysis (FP&A), Mergers & Acquisitions (M&A), Financial Regulations, Corporate Finance, Debt Raises, Investment Monitoring, Project Finance, Discounted Cash Flow (DCF), Excel Modeling, Excel Expert, Three-statement Modeling, Pitch Deck Consultant, P&L Forecasting, Cash Flow, Microsoft Excel, India, CleanTech, Clean Energy, Green Energy, Cash Flow Modeling, Real Estate, Due Diligence Consultant, Profitability Analysis, Forecasting, Finance Structures, Business Structuring, M&A (Buy-side), Excel 365, Valuation Modeling, M&A (Sell-side), Manufacturing, Finance, Finance Management, Cash Flow Management, Financial Management, Business to Business (B2B), Profit & Loss (P&L), Revenue Projections, Revenue Modeling, Revenue Analysis, Loans, Loans & Lending, Credit/Debt, Financial Forecasting, FPA, Budgeting, Feasibility, Renewables, Alternative Energy, Project Bidding, Sensitivity Analysis, Analysis of Variance (ANOVA), Financial Statements, Pro Forma Financial Statements, Operating Models, Financing, Debt Financing, Total Addressable Market (TAM), Accounting, Key Performance Metrics, Board Reporting, Deal Analysis, Investments, ROI, Return Analysis, Excel 2016, Excel 2013, Budget Modeling, P&L Analysis, Startup Funding, Early-stage Funding, Angel Investing, Financial Advisory, Financial Data, Infrastructure, Coal, Contract Drafting, Contract Review, Contract Negotiation, Contract, Risk Analysis, Hydro Power, Power Plants, Due Diligence, Capital Budgeting, Private Equity, Complex Transaction Agreements, Market Sector, Investor Agreements, Market Estimates, PPP Projects, Share Purchase Agreements, Term Sheets, Term Sheet Negotiations, Project Development

  • Associate

    2010 - 2012
    Synergy Consulting, Inc.
    • Performed financial modeling and debt structuring for a consortium consisting of ACWA Power's and Siemens' participation in the competitive bid for Dubai’s first independent power project (IPP) with a project cost of $500 million.
    • Built a detailed financial model and performed a contract review for Saudi Aramco for the first district cooling project financed on a non-recourse basis in the Middle East and North Africa (MENA) region, with a project cost of $160 million.
    • Carried out due diligence, valuation, and financial modeling for TAQA, Abu Dhabi's energy holding company, for acquisition (via a competitive bid) of two coal power projects (buy-side) with a project cost of $100 million.
    • Built a detailed financial model for Marafeq Qatar for the development of a district cooling project in Lusail City, the largest development in Qatar, with a project cost of $75 million.
    • Analyzed the contract structure and financial projections of an IPP with a methane extraction plant worth $200 million. The project was part of the Rwandan government's private-public partnership (PPP) initiative.
    • Carried out due diligence, valuation, term sheet drafting, and financial modeling for PPN Power for the sale of a coal power project in India (sell-side), with a project cost of $50 million.
    • Handled the contractual and financial analysis for Qatar Electricity and Water Company for extension of the concession agreement for its independent water and power project in Qatar.
    Focus areas: Break-even Analysis, Debt, Financial Statement Preparation, Energy, Valuation, Financial Planning & Analysis (FP&A), Revenue & Expense Projections, Energy Sector Expert, Financial Analysis, Financial Reporting, Financial Model Auditing, Financial Modeling, Project Finance, Structured Finance Documentation, Mergers & Acquisitions (M&A), Discounted Cash Flow (DCF), Excel Modeling, Reporting, Excel Expert, Three-statement Modeling, Pitch Deck Consultant, P&L Forecasting, Cash Flow, Microsoft Excel, India, Clean Energy, Green Energy, Cash Flow Modeling, Due Diligence Consultant, Profitability Analysis, Data Rooms, Forecasting, Finance Structures, Business Structuring, M&A (Buy-side), Investment Banking, Excel 365, Valuation Modeling, M&A (Sell-side), Excel VBA, Finance, Finance Management, Financial Management, Business to Business (B2B), Profit & Loss (P&L), Revenue Projections, Revenue Modeling, Revenue Analysis, Loans, Loans & Lending, Credit/Debt, Financial Forecasting, FPA, Budgeting, Renewables, Alternative Energy, Project Bidding, Sensitivity Analysis, Analysis of Variance (ANOVA), Financial Statements, Pro Forma Financial Statements, Operating Models, Financing, Debt Financing, Total Addressable Market (TAM), Accounting, Key Performance Metrics, Investments, ROI, Return Analysis, Excel 2016, Excel 2013, Budget Modeling, P&L Analysis, Startup Funding, Early-stage Funding, Angel Investing, Financial Advisory, Financial Data, Infrastructure, Coal, Contract Drafting, Contract Review, Contract Negotiation, Contract, Risk Analysis, Hydro Power, Power Plants, Due Diligence, Capital Budgeting, Middle East, Africa, Private Equity, PPP Projects, Project Development

Other Experience

  • What Is Bitcoin Mining? How It Works and What It Takes to Make It Pay (Publication)
    https://www.toptal.com/finance/blockchain/what-is-bitcoin-mining
    Bitcoin mining is booming in North America, sparking new revenue opportunities for companies with access to cheap power, especially renewables. Learn the risks as well as the rewards.
  • Caution to the Wind: Views on the Renewable Energy Growth Boom (Publication)
    https://www.toptal.com/finance/energy-sector-expert/renewable-energy-growth
    Renewable energy generation, lead by solar PV and wind power, is growing at a considerable rate. Innovations are lowering the cost to generate such power to levels of traditional fossil fuels. Yet underneath the positive headlines, there are some fundamental issues that remain in the long-term sustainability of business models in the industry.

Education

  • Master of Business Administration (MBA) Degree in Finance
    2008 - 2010
    Indian Institute of Management Ahmedabad - Ahmedabad, India
  • Bachelor's Degree in Electrical and Electronics Engineering
    2004 - 2008
    Chaitanya Bharathi Institute of Technology - Hyderabad, India

Certifications

  • Valuation (Online Class)
    OCTOBER 2022 - PRESENT
    Aswath Damodaran
  • Venture Deals
    SEPTEMBER 2022 - PRESENT
    TechStars and Kauffman Fellows
  • Learning Python
    AUGUST 2022 - PRESENT
    LinkedIn Learning
  • Python and Statistics for Financial Analysis
    MAY 2020 - PRESENT
    The Hong Kong University of Science and Technology
  • Tableau — Desktop I
    APRIL 2020 - PRESENT
    Tableau Software
  • SEO for WordPress (Block and Classic Editors)
    JANUARY 2020 - PRESENT
    Yoast SEO Academy
  • Certification in Financial Markets (Derivatives)
    APRIL 2008 - PRESENT
    National Stock Exchange of India

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