The SME CFO InsightsOriginal research, financial frameworks and market intelligence for founders building Africa’s next generation of investor-ready companies. From The SME CFO.https://www.thesmecfo.co/enTerm Sheets Explained: What They Are, the Clauses That Matter, and How to Negotiate Themhttps://www.thesmecfo.co/insights/blog/term-sheets-decoded/https://www.thesmecfo.co/insights/blog/term-sheets-decoded/A term sheet is where a funding deal is really made. Here are the economic and control clauses that matter most, from liquidation preferences and the option pool shuffle to board seats and anti-dilution, in plain English.Wed, 19 Aug 2026 00:00:00 GMTFundraisingDeal TermsOlubunmi Nmerenu, ACASAFE vs Convertible Note vs Priced Round: What They Are, How They Differ, and Which to Usehttps://www.thesmecfo.co/insights/blog/safe-vs-convertible-note-vs-priced-round/https://www.thesmecfo.co/insights/blog/safe-vs-convertible-note-vs-priced-round/Three ways to raise, three sets of trade-offs. A clear comparison of SAFEs, convertible notes and priced rounds, and a simple guide to which fits your stage, your amount and your investors.Tue, 18 Aug 2026 00:00:00 GMTFundraisingDeal TermsOlubunmi Nmerenu, ACAConvertible Notes Explained: What They Are, How They Work, and When to Use Onehttps://www.thesmecfo.co/insights/blog/convertible-notes-explained/https://www.thesmecfo.co/insights/blog/convertible-notes-explained/Convertible notes have fallen to just 7% of US pre-seed rounds, but they are far from dead, especially in Africa. Here is how interest, maturity, caps and discounts work, what the data says, and how a note differs from a SAFE.Mon, 17 Aug 2026 00:00:00 GMTFundraisingDeal TermsOlubunmi Nmerenu, ACASAFEs Explained: What They Are, How They Work, and When to Use Onehttps://www.thesmecfo.co/insights/blog/safes-explained/https://www.thesmecfo.co/insights/blog/safes-explained/SAFEs now account for 93% of US pre-seed rounds. Here is how caps, discounts and the post-money structure actually work, what the data says, with a worked example and the traps to avoid, including what changes in Africa.Sun, 16 Aug 2026 00:00:00 GMTFundraisingDeal TermsOlubunmi Nmerenu, ACASeries D Funding: What It Is, What Investors Want, and How to Raise Ithttps://www.thesmecfo.co/insights/blog/series-d-funding-explained/https://www.thesmecfo.co/insights/blog/series-d-funding-explained/Series D is raised either to accelerate a rocket or to buy time to a better exit. Here is what the two stories mean, who invests at this late stage, and what belongs in a Series D pitch deck.Sat, 15 Aug 2026 00:00:00 GMTFundraisingSeries DOlubunmi Nmerenu, ACASeries C Funding: What It Is, What Investors Want, and How to Raise Ithttps://www.thesmecfo.co/insights/blog/series-c-funding-explained/https://www.thesmecfo.co/insights/blog/series-c-funding-explained/Series C funds market leadership: aggressive expansion, acquisitions and the road toward an exit. Here is what late-stage investors underwrite, the metrics bar, and what belongs in a Series C pitch deck.Fri, 14 Aug 2026 00:00:00 GMTFundraisingSeries COlubunmi Nmerenu, ACASeries B Funding: What It Is, What Investors Want, and How to Raise Ithttps://www.thesmecfo.co/insights/blog/series-b-funding-explained/https://www.thesmecfo.co/insights/blog/series-b-funding-explained/Series B funds scale: expanding a proven engine into new markets, segments and products. Here is what investors underwrite at this stage, and what belongs in a Series B pitch deck.Thu, 13 Aug 2026 00:00:00 GMTFundraisingSeries BOlubunmi Nmerenu, ACASeries A Funding: What It Is, What Investors Want, and How to Raise Ithttps://www.thesmecfo.co/insights/blog/series-a-funding-explained/https://www.thesmecfo.co/insights/blog/series-a-funding-explained/Series A funds a repeatable growth engine. Here is the metrics bar investors hold you to, why so many companies stall here, and what belongs in a Series A pitch deck.Wed, 12 Aug 2026 00:00:00 GMTFundraisingSeries AOlubunmi Nmerenu, ACASeed Funding: What It Is, What Investors Look For, and How to Raise Ithttps://www.thesmecfo.co/insights/blog/seed-funding-explained/https://www.thesmecfo.co/insights/blog/seed-funding-explained/Seed funds the search for product-market fit. Here is what investors look for once you have a live product, the traction that matters, and what belongs in a seed-stage pitch deck.Tue, 11 Aug 2026 00:00:00 GMTFundraisingSeedOlubunmi Nmerenu, ACAPre-Seed Funding: What It Is, What Investors Want, and How to Raise Ithttps://www.thesmecfo.co/insights/blog/pre-seed-funding-explained/https://www.thesmecfo.co/insights/blog/pre-seed-funding-explained/Pre-seed funds the idea before there is much to show. Here is what the stage is really for, what the earliest investors look for, and exactly what belongs in a pre-seed pitch deck.Mon, 10 Aug 2026 00:00:00 GMTFundraisingPre-SeedOlubunmi Nmerenu, ACAThe Complete Guide to Startup Funding: Pre-Seed to Series Dhttps://www.thesmecfo.co/insights/blog/complete-guide-startup-funding-pre-seed-to-series-b/https://www.thesmecfo.co/insights/blog/complete-guide-startup-funding-pre-seed-to-series-b/What each funding stage really means, how much you raise, what investors expect, and how ownership changes as you climb the ladder. The map before the journey.Sun, 09 Aug 2026 00:00:00 GMTFundraisingOlubunmi Nmerenu, ACAStartup Valuation: What It Is, How Investors Set It, and How to Raise Yourshttps://www.thesmecfo.co/insights/blog/startup-valuation/https://www.thesmecfo.co/insights/blog/startup-valuation/Valuation is the most argued-over number in fundraising and the least understood. Here is what pre-money and post-money really mean, how early-stage valuations are actually set, and what genuinely moves the number.Sat, 08 Aug 2026 00:00:00 GMTFundraisingValuationOlubunmi Nmerenu, ACACap Tables and Dilution: What They Are, How to Read One, and How to Protect Your Ownershiphttps://www.thesmecfo.co/insights/blog/cap-tables-and-dilution/https://www.thesmecfo.co/insights/blog/cap-tables-and-dilution/Every round you raise changes who owns your company. Here is how a cap table works, how dilution really adds up across rounds, and the levers that decide whether founders keep a meaningful stake by the end.Fri, 07 Aug 2026 00:00:00 GMTFundraisingCap TableOlubunmi Nmerenu, ACAStartup Pitch Deck: What It Is, the 10 Slides Investors Want, and How to Build Ithttps://www.thesmecfo.co/insights/blog/startup-pitch-deck/https://www.thesmecfo.co/insights/blog/startup-pitch-deck/Investors spend about two and a half minutes on a pitch deck, and nearly half never reach the last slide. Here is what a deck is for, the 10 slides that raise, and how each one changes by stage.Thu, 06 Aug 2026 00:00:00 GMTFundraisingPitch DeckOlubunmi Nmerenu, ACAHow to Find and Approach Investors: Where to Look, Who to Target, and How to Get a Meetinghttps://www.thesmecfo.co/insights/blog/how-to-find-and-approach-investors/https://www.thesmecfo.co/insights/blog/how-to-find-and-approach-investors/A warm introduction converts up to three times better than a cold email. Here is how to find the right investors, build the introductions that get meetings, and run outreach that respects your time and theirs.Wed, 05 Aug 2026 00:00:00 GMTFundraisingInvestor RelationsOlubunmi Nmerenu, ACAData Room and Due Diligence: What They Are, What Investors Ask For, and How to Preparehttps://www.thesmecfo.co/insights/blog/data-room-and-due-diligence/https://www.thesmecfo.co/insights/blog/data-room-and-due-diligence/A third of deals collapse at the final hurdle over preventable gaps. Here is what happens in due diligence, what belongs in your data room, and how to prepare so a signed term sheet actually becomes money in the bank.Tue, 04 Aug 2026 00:00:00 GMTFundraisingDue DiligenceOlubunmi Nmerenu, ACARaising Capital in Africa: What's Different, What Works, and How to Preparehttps://www.thesmecfo.co/insights/blog/raising-capital-in-africa/https://www.thesmecfo.co/insights/blog/raising-capital-in-africa/African tech raised $4.1 billion in 2025, but the money concentrates in four countries, one sector, and increasingly in debt. Here is what makes raising on the continent different, and how founders can prepare to stand out.Mon, 03 Aug 2026 00:00:00 GMTFundraisingAfricaOlubunmi Nmerenu, ACANon-Dilutive Funding: What It Is, the Main Options, and When to Use Ithttps://www.thesmecfo.co/insights/blog/non-dilutive-funding/https://www.thesmecfo.co/insights/blog/non-dilutive-funding/Not all capital costs you equity. Grants, venture debt and revenue-based finance let you fund growth while keeping your ownership, and in Africa, where debt is 41% of all capital, they are more mainstream than founders think.Sun, 02 Aug 2026 00:00:00 GMTFundraisingNon-DilutiveOlubunmi Nmerenu, ACAThree Numbers Every Founder Should Know Before Raisinghttps://www.thesmecfo.co/insights/blog/three-numbers-before-you-raise/https://www.thesmecfo.co/insights/blog/three-numbers-before-you-raise/Investors decide fast, and they decide on a handful of figures. Know these three cold before you walk into the room.Sat, 01 Aug 2026 00:00:00 GMTFundraisingReportingOlubunmi Nmerenu, ACAWhat Investors Actually Check in Your Financial Modelhttps://www.thesmecfo.co/insights/blog/what-investors-check-in-your-model/https://www.thesmecfo.co/insights/blog/what-investors-check-in-your-model/A three-statement model is not a spreadsheet beauty contest. Here is where experienced investors look first, and what makes them lose confidence.Fri, 31 Jul 2026 00:00:00 GMTFundraisingFinancial ModelOlubunmi Nmerenu, ACACash Runway: The Metric That Ends the Panichttps://www.thesmecfo.co/insights/blog/cash-runway-ends-the-panic/https://www.thesmecfo.co/insights/blog/cash-runway-ends-the-panic/Runway is the single number that turns a vague financial dread into a clear decision. Here is how to calculate it honestly and use it well.Thu, 30 Jul 2026 00:00:00 GMTCash FlowOlubunmi Nmerenu, ACAUnit Economics: The Math That Decides Whether to Growhttps://www.thesmecfo.co/insights/blog/unit-economics-the-math-that-decides-growth/https://www.thesmecfo.co/insights/blog/unit-economics-the-math-that-decides-growth/Growth only helps if each sale makes money. Unit economics is the small piece of arithmetic that tells you whether to press the accelerator or fix the engine first.Wed, 29 Jul 2026 00:00:00 GMTUnit EconomicsFundraisingOlubunmi Nmerenu, ACAWorking Capital: Why Profitable Companies Still Run Out of Cashhttps://www.thesmecfo.co/insights/blog/working-capital-why-profitable-companies-run-out-of-cash/https://www.thesmecfo.co/insights/blog/working-capital-why-profitable-companies-run-out-of-cash/You can be profitable on paper and still miss payroll. The gap is working capital: the cash trapped between paying your suppliers and collecting from your customers.Tue, 28 Jul 2026 00:00:00 GMTCash FlowReportingOlubunmi Nmerenu, ACAPricing for Profit: How to Raise Prices Without Losing Customershttps://www.thesmecfo.co/insights/blog/pricing-for-profit-raising-prices/https://www.thesmecfo.co/insights/blog/pricing-for-profit-raising-prices/Price is the fastest lever you have on profit, and the one founders touch least. Here is how to raise it with confidence, and why a small increase does more than a big sales push.Mon, 27 Jul 2026 00:00:00 GMTPricingStrategyOlubunmi Nmerenu, ACASurviving a Falling Naira: Managing Currency Risk in Your Businesshttps://www.thesmecfo.co/insights/blog/surviving-a-falling-naira/https://www.thesmecfo.co/insights/blog/surviving-a-falling-naira/When your costs are in dollars and your revenue is in naira, a falling currency quietly eats your margin. Here is how to see the exposure and build a business that holds up when the rate moves against you.Sun, 26 Jul 2026 00:00:00 GMTCash FlowStrategyOlubunmi Nmerenu, ACAThe Investor Update That Keeps the Money Cominghttps://www.thesmecfo.co/insights/blog/investor-update-that-keeps-money-coming/https://www.thesmecfo.co/insights/blog/investor-update-that-keeps-money-coming/The monthly investor update is the highest-return hour a founder spends. Done well, it turns backers into a second team. Done badly, or not at all, it lets the relationship, and the next cheque, go cold.Sat, 25 Jul 2026 00:00:00 GMTFundraisingReportingOlubunmi Nmerenu, ACA