ZigZag Trader (ZT4) · White-label brokerage platform · B2B SaaS · Updated Jul 2026

Financial Model & Operating Plan

Recurring platform licences (brokers & prop firms) + one-time setup + add-on expansion. Seven-year quarterly build with live driver inputs.

Illustrative — assumptions-based, not committed figures. Edit the blue driver cells and everything recomputes live in your browser. No data leaves this page.

Section 1

Drivers & assumptions — editable inputs (blue cells)

Broker effective ARPA = blended plan ARPA × (1 + add-on attach). New-logo counts are entered per year (Y1–Y7) and auto-spread across quarters (rising within the year); end-of-year tenant counts already reflect ~8% annual logo churn. Scenario buttons scale the growth ramp; pricing, margin and opex drivers are held.

Section 2

Quarterly revenue build — MRR waterfall, Q1–Q28

Waterfall: Beginning MRR → + new-logo MRR → + add-on expansion → − churned MRR → = Ending MRR. ARR = Ending MRR × 12. Setup is one-time per new logo. Add-on expansion is the 25% attach uplift on new broker logos (already embedded in effective ARPA); a 112% net-revenue-retention target on the installed base is tracked in Section 5.

Annual roll-up

Annual revenue is presented on an exit-ARR (run-rate) basis — year-end ARR + in-year setup — consistent with the pitch financials slide.

Section 3

Profit & loss — annual (exit-ARR basis)

Subscription revenue on a year-end run-rate (ARR) basis + one-time setup. COGS = (1 − gross margin) × revenue. R&D is headcount-driven; S&M and G&A follow their driver percentages of revenue plus fixed G&A. EBITDA excludes financing and one-off items.

Quarterly P&L (recognized / as-billed basis — conservative)

Quarterly figures use recognized revenue (each quarter's billed run-rate = quarter-end MRR × 3 + setup), which ramps within the year and is lower than the annual exit-ARR figure — the conservative view used to drive cash below.

Section 4

Cash & runway

Section 5

SaaS metrics dashboard

Metrics by year

LTV = effective ARPA × 12 × gross margin ÷ annual logo churn. CAC = annual S&M ÷ new logos. CAC payback = CAC ÷ (monthly ARPA × gross margin). Rule of 40 = ARR growth % + EBITDA margin %. Burn multiple = net cash burn ÷ net-new ARR (lower is better). Early CAC is low (founder-led / inbound off a live product) and is expected to rise with scale.

Section 6

The raise & use of funds

Sales & GTM

45%

Eng & Product

35%

Compliance, Ops & G&A

20%

Seed sizing reflects 2025–26 fintech-seed norms (~$4–6M round at ~$18–25M pre-money). We are raising $5.0M to accelerate GTM and hiring for a ~30-month runway. Milestone targets are the base-case model outputs at end of Year 3 (~$5.7M ARR / ~150 tenants) — the funded plan's near-term checkpoint; the raise funds the aggressive growth path targeting ~$7.9M ARR at Year 3 (the model's Aggressive scenario). The model now projects the full ramp out to Year 7 (see the exit-ARR headline above) to show the scale the funded period sets up.

Section 7

Market context

Market (industry estimates, 2025–26)	Figure
Retail CFD/FX broker market	$2.5–5.6B; ~6M active CFD accounts
Retail prop-firm market	~$850M (from ~$450M in 2021)
White-label platform spend / broker	$5k–$100k+ / yr
Competitor pricing (what we undercut)
Match-Trader	$2,000–3,500/mo for 1,000 active
cTrader	$5 / $1M volume + $5,000/mo min
TradeLocker · DXtrade (yr 1)	$30–80k · $150–400k

Benchmark	Reference
Subscription-SaaS gross margin	Median ~81% (we model 85% — brokers self-host)
Net revenue retention	Median ~101% · top-quartile ~111%
CAC payback	~9–20 months by ACV band
Fintech seed round	~$4–6M at ~$18–25M pre-money
Rule of 40	Growth% + margin% ≥ 40 = healthy
Burn multiple	<1.0 = efficient; <0.5 = best-in-class

Section 8

Basis of assumptions (benchmarks & sources)

Assumption	Value	Basis (industry estimates, 2025–26)