About01

Investor operator.

Ex-investment banker and VC turned technology CFO, with 12+ years across finance leadership, venture capital and M&A.

  • Two exits delivered as an operator, including Spain's largest SaaS exit (Holded, seed to $200M+ in under three years).
  • Tripled ARR and took EBITDA margin from –150% to +20% at Revieve, an enterprise AI platform serving Boots, CVS, Target and Estée Lauder.
  • $18BN of M&A and financing transactions advised at Bank of America Merrill Lynch; growth-stage investing at Lepe Capital.
  • Active angel investor across 40+ companies, including Revolut, Anthropic and OpenAI, at 16x TVPI.
Felipe Tunnell
Founder · FT VenturesBritish · Spanish · Argentine
2Exits delivered
$200M+Largest exit
$50M+ARR operating scale
10×ARR growth
$18BNM&A transactions
$1BNEquity transactions
$800MDebt transactions
16×Portfolio TVPI
Where I've worked Bank of America Merrill Lynch Lepe Capital Holded Homerun Revieve
Where I've trained
Imperial College London
MSc Finance
University of Southampton
MEng Aerospace Engineering
CFA Institute CISI

Operator track record

RevieveCFO · 2022–2026
Enterprise AI & SaaS. Tripled ARR, delivered the first sustained profitability, led the Series B, built EU/US finance infrastructure and moved the business to 99% recurring revenue.
–150%→+20%
HoldedVP Finance · 2019–2021
B2B SaaS ERP, 100,000+ businesses. Built finance from zero through 20→100+ people, co-led $25M+ across Series A and B, then ran the sell-side to Visma without an advisor.
$200M+ exit
HomerunFractional CFO · 2021–2024
HR SaaS. Fundraising, bridge financing to extend runway, then the sell-side process to ISH/Strada and post-merger integration through to full-time CFO handover.
Exit
KoinlyFractional CFO · 2021–2022
$50M+ ARR consumer fintech, 2M+ users across 140+ countries. Built FP&A and the operating model from scratch ahead of the first institutional round; recruited the Financial Controller.
$50M+ ARR

Venture capital & investment banking

Lepe CapitalInvestment Manager · 2015–2017
Growth-stage VC across European B2B SaaS, marketplaces and consumer. Lead investor and board observer at Festicket; co-led LiveLike's Series B. Portfolio exits include Treatwell to Recruit Holdings (3.75x, 174% IRR).
VC
Bank of America Merrill LynchAnalyst · 2013–2015
Consumer & retail investment banking, $18BN of M&A and financing transactions. Edizione's €3.6BN sale of its World Duty Free stake, Dufry's €700M high-yield financing, Permira's €983M Hugo Boss secondary.
M&A

On the founder side

Lazare FarmsCo-founder · 2024–2026
A new generation of vertical farming built around proprietary robotics and automation, low capex and viable unit economics. Bootstrapped from prototype to pilot and signed an LOI with Portugal's largest food retailer. Wound down in 2026 as investment into vertical farming dried up across the sector.
Founder

Geographies

Lived and worked in eight cities across Europe and the Gulf, plus US operations and investors.

LondonUK
BarcelonaSpain
AmsterdamNetherlands
HelsinkiFinland
BerlinGermany
LisbonPortugal
BaselSwitzerland
DubaiUAE

Credentials

  • EducationMEng Aerospace Engineering, First (Southampton, scholarship) · MSc Finance (Imperial, scholarship)
  • CertificationsCFA Level I · Certified Advisor, CNMV (CFA Society Spain) · CISI
  • TeachingLecturer in Finance, INSA Barcelona

Footprint

  • LanguagesEnglish and Spanish (native) · German · Catalan
  • BaseDubai. Triple national (UK, Spain, Argentina) with EU and UK work authorisation. Internationally mobile.
Fractional CFO02

Burn to profitability.
Fundraise to exit.

Fractional CFO for high-growth, VC- and PE-backed companies, from B2B SaaS to consumer brands.

I build finance functions, sharpen commercial decision-making and help founders through fundraising, profitability and M&A. Two exits as an operator, and multiple finance functions built from the ground up.

Most growing companies hit the same finance ceiling

Before

  • Founder-led finance
  • Ad-hoc models
  • Reactive reporting
  • Decisions driven by intuition
  • Finance seen as “support”

As you scale

  • Board scrutiny increases
  • Investors want clarity
  • Capital allocation decisions matter
  • Weak finance becomes visible very fast

The problem

  • Numbers exist, but aren’t trusted
  • Board conversations become defensive
  • Metrics don’t reconcile across decks
  • Forecasts feel optimistic, not controlled
  • The CEO absorbs unnecessary finance load

The company has outgrown founder-led finance, but isn’t ready to hire a full-time CFO.

Where I can help

Burn is too high

The board wants a credible path to break-even without sacrificing growth.

A fundraise is 6–12 months away

The model, materials, data room and process need CFO ownership.

An exit is on the horizon

You need someone who has run a sell-side process end to end.

Reporting hasn't kept up

Board packs, KPIs and forecasts that the board and investors can trust.

How engagements work

Start with a two-week diagnostic, then work together at the stage you're at.

Start here

Finance diagnostic

2 weeks · fixed fee

A hands-on review of your cash, model, reporting and KPIs, ending in a written 90-day plan with clear priorities. No commitment beyond it.

Raise-readyBefore a round · seed to Series B
  • Investor-grade model and scenarios
  • Metrics that reconcile across every deck
  • Data room and diligence prep
  • Process, investor Q&A and term sheet support

$30M+ raised across Series A and B

Scale-readyAfter a round · 1–3 days/week
  • Monthly board pack and KPI dashboard
  • Rolling forecast and 13-week cash view
  • Unit economics and a path to profitability
  • Finance team, systems and controls built to hand over

Revieve: –150% → +20% EBITDA while tripling ARR

Exit-ready12–24 months before a sale
  • Buyer-ready numbers and data room
  • Sell-side process and diligence management
  • SPA negotiation support
  • Post-merger integration

Holded: $200M+ exit to Visma · Homerun: sold to ISH

Need someone close to full-time? Interim CFO cover for 3–9 months, including handover to a permanent hire.

Selected clients

KetoSwissHealth brand
Curvo AIAI for sales teams
HomerunHR SaaS · Exit
KoinlyConsumer fintech
Fresh GreensFood brand

Case study

Holded ERP SaaS · Exit
Seed-stage to acquisition by Visma · VP Finance, 2019–2021
$25M+Raised
20→100+Team
100,000+Customers
$200M+Exit to Visma

Timeline

2018 · €1.6M seed led by Nauta. 10k users.
2019 · Felipe joins as VP Finance. €6M Series A led by Lakestar.
2021 · €15M Series B led by Elaia. Expansion to France.
2021 · Acquired by Visma, one of Spain's largest SaaS exits. Sell-side run in-house, without an adviser.

Capital raised

€1.6M
€7.6M
€22.6M
SeedSeries ASeries B
Cumulative · navy = raised with Felipe as VP Finance

My role

Built the finance function from zero. Led FP&A, fundraising and investor relations through the Series A and B, then ran the sale process to Visma end to end, including diligence, negotiation and integration.

What founders say

“Felipe is an absolute professional growth company and SaaS finance leader with an acute eye for detail and a thorough understanding not just of finance but of the business as well. He was instrumental in creating our financial model and forward-looking SaaS metric projections. I warmly recommend working with him.”
Sampo ParkkinenFounder & CEO, RevieveRevieve
“Felipe is a pro in finance and fundraising in the startup world and beyond, with a good grasp of how the business can grow and how to invest in its growth. It was a pleasure to work with him on financial planning, Series B fundraising, the company acquisition and lots of growth projects. A truly trustworthy business partner. I highly recommend him to businesses that are starting to scale and adding financial stakeholders.”
Adelina PelteaCOO, Homerun · VP of Growth, HoldedHomerunHolded
“Best teammate you could hope for if you’re a high-growth startup looking to get your finances in order and raise from VCs. He’s been there and done that from seed, through Series A and B, all the way to an exit.”
Pablo AlcoleaCEO, Fresh GreensFresh Greens

What investors and acquirers say

Feedback on the data rooms, models and materials I prepared through fundraising and M&A processes.

Strategic buyers
“We are very impressed with the materials, the due diligence process and how professionally the company is run for the stage it is at.”
VismaAcquirer of Holded · OsloVisma
“The material you have been providing has been awesome. I see a lot of information from companies and let me say some of it is not pretty! Financial model is very well laid out and very good. It’s arguably even better than our model.”
XeroStrategic · WellingtonXero
Investors
“Nicely done model and presentation, well done! Great first indication when it comes to forming a quality impression of Holded.”
LakestarVC · ZurichLakestar
“A big reason for the Visma acquisition was the quality of materials and documentation at Holded.”
Notion CapitalVC · LondonNotion Capital
“Always nice to review data when an ex-banker has processed it.”
Left Lane CapitalVC, ex-IVP team · New YorkLeft Lane Capital
“The data room was exceptional, and the presentation was super clean!”
Acton CapitalVC · MunichActon Capital
“Very comprehensive data room and one of the best financial models I have ever reviewed.”
United VenturesVC · MilanUnited Ventures
“Extensive materials including a financial plan and a subscribers deck, which helped us a lot.”
EQT VenturesVC · BerlinEQT Ventures
“The data and presentations that you provided have been really helpful, so thank you.”
AdditionVC, ex-Tiger Global team · New YorkAddition
“Data room is of very high quality.”
PartechVC · ParisPartech
“Excellent data room. You can tell Felipe worked in investment banking and VC before joining Holded.”
MubadalaSovereign investor · Abu DhabiMubadala
Also praised byCommerz VenturesNauta Capital

Best-fit mandates

  • Growth → Profitability
  • Founder-led finance → Institutional finance
  • Transactional revenue → Recurring revenue
  • Fundraising → Exit readiness
  • Standalone → Buy-and-build
  • Lean finance → Scalable strategic finance

Start with a 30-minute call.

Tell me where the business is heading and I'll say plainly whether I can help.

Book a call →
Portfolio03

Investor track record

40+ early-stage investments since 2017, from frontier AI and fintech to consumer brands and deep tech.

16×Net TVPI
52%IRR

Against the benchmarks

My portfolio · 16.0× net TVPI · 52% IRR16×
VC top decile · 3.1× TVPI · Carta3.1×
S&P 500 · 2.6× total return · same period2.6×
VC top quartile · 2.4× TVPI · PitchBook2.4×
VC median · 1.7× TVPI · PitchBook1.7×
VC lower quartile · 0.8× TVPI · PitchBook0.8×
My portfolioVC top decileS&P 500VC top quartileVC medianVC lower quartile

Net of fees. Benchmarks: Carta, PitchBook. TVPI and IRR to date; unrealised positions marked to last round.

Selected returns

RevolutEntry at £276M · 2017
Global digital bank and financial super-app.
192×
AnthropicEntry at $26BN · 2024
Frontier AI lab.
26×
OpenAIEntry at $110BN · 2024
Frontier AI lab.
6×
Different DogSeed, 2020
UK's fast-growing fresh dog food subscription.
5×
SpaceX2022 · Exited
Space exploration, satellite internet and frontier AI.
4×
MoneyboxSeries C, 2020 · Exited
UK savings and investing app.
3×

Personal angel investments. Entry valuations are the round valuation at the time of investment. Multiples are on my invested capital, net of SPV fees, carry and dilution from later rounds, so they’re lower than the change in company valuation. Largely unrealised, based on latest marks. Not an offer of any investment. Past performance is not a guide to future returns.

Selected portfolio