Market moment: Two giants stumble, one opens up
The financial modelling software market for startups is in flux. Finmark (founded 2013, acquired by BILL in 2022) is discontinuing operations on 1 April 2026. Causal, beloved for its visual drag-to-canvas modelling, was acquired by Lucanet in December 2023 and is now enterprise-only, with startup pricing phased out entirely. This creates genuine risk for founders: their tools are disappearing, and the remaining options are either overbuilt for seed stage (Runway, Drivetrain) or services-heavy with opaque pricing (Forecastr).
This article compares five leading financial modelling tools across pricing, features, ease of use, and founder fit. We are honest about where each competitor wins and loses. We own Raise Ready Pro, so credibility matters – we are not claiming we beat everyone at everything.
Quick comparison: Causal, Forecastr, Finmark, Runway, and Raise Ready Pro
| Feature | Raise Ready Pro | Causal (via Lucanet) | Forecastr | Finmark (sunsetting) | Runway |
|---|---|---|---|---|---|
| Pricing (entry) | Free tier, then $9.99/mo | Custom (was $250/mo) | Custom (est. $1,000+/mo) | $50/mo (discontinued) | Custom (demo required) |
| Free tier | Yes, full build access | No | No | Yes (until April 2026) | No |
| Cap table integration | Yes, built-in | No | No | No | No |
| Pitch deck export (PPTX) | Yes, 8 slides | No | No | No | No |
| Transparent pricing | Yes | No (enterprise only) | No (call for quote) | Yes | No (call for quote) |
| UX simplicity (learning curve) | Moderate (templates help) | Excellent (visual canvas) | High (services-heavy) | Excellent (simplest) | Steep (enterprise feature set) |
| Target audience | Pre-seed to Series A | Enterprise FP&A (now) | Founders who want hands-on CFO | Bootstrapped founders | Series B+ with data |
| Best for | All-in-one fundraising planning | Visual scenario planning (legacy) | Outsourced model building | Speed to first model | Complex multi-entity forecasts |
Detailed competitor analysis
Causal (now Lucanet xP&A)
What happened: Causal was acquired by Lucanet (an enterprise planning and analysis vendor) in December 2023. The standalone Causal product has been absorbed into Lucanet's xP&A suite. Startup pricing ($250/month) has been discontinued.
Strengths (pre-acquisition): Visual drag-to-canvas modelling was genuinely innovative. Formula language beat Excel for multi-dimensional dependencies. 5,000+ companies loved it.
Current state (post-acquisition): No longer suitable for startups. Enterprise sales motion, no free tier, requires demo-based pricing. Founders cannot self-serve or compare costs.
Bottom line: Causal is effectively unavailable to pre-seed and seed founders. Migrate to Raise Ready Pro or Forecastr.
Forecastr
Positioning: Expert-built custom financial models with optional fractional CFO services. Techstars-backed, $3M+ raised.
Strengths: Hands-on CFO engagement is valuable if you have bandwidth to work with advisors. Integrates QuickBooks, Xero, HubSpot, Stripe for actuals syncing.
Weaknesses: Opaque pricing (no public tiers). Services-heavy (not software-first), so does not scale to high volume. Requires dedicated onboarding. High friction for "I need a model in 2 hours before investor call" founders. No cap table. No pitch deck export.
Bottom line: Best for founders who want hands-on CFO support and do not mind paying $1,000–$5,000/month. Poor fit for self-serve, speed-focused founders.
Finmark (sunsetting 1 April 2026)
Status: Discontinued. Users must migrate.
What made it great: Simplest UX in the category. "First model in 30 minutes" resonated with founders. Free tier was attractive for product-led growth.
Why it's ending: Absorbed into BILL (accounts payable platform). Poor product fit. BILL decided to sunset the standalone app rather than integrate it. Users are orphaned.
Bottom line: If you are a Finmark user, switch to Raise Ready Pro by 31 March 2026. Raise Ready has the same simplicity plus cap table integration and pitch deck export.
Runway
Positioning: AI-powered FP&A for teams. 750+ integrations (Snowflake, Salesforce, QuickBooks, HubSpot). Unlimited scenarios. Includes onboarding and training.
Strengths: Strong G2 rating (4.8/5). AI-powered variance analysis is genuinely useful for post-funding tracking. Built for data-rich organisations.
Weaknesses: Zero public pricing (sales-only motion). Overkill for seed stage. Built for $10M+ ARR companies with dedicated FP&A teams, not solo founders. No cap table. No pitch deck export.
Bottom line: Runway is excellent for Series B+ founders with complex forecasting needs and large datasets. Wrong tool for pre-seed and seed founders.
Raise Ready Pro: The integrated alternative
What we do differently: We built financial modelling, cap table management, and pitch deck generation into a single platform. Most competitors force you to choose: model your P&L in one tool, manage equity in another, and build your deck elsewhere.
Key features:
- Free to build: Model, scenarios, cap table – all free. Pay only when you export (PDF, Excel, PPTX).
- Integrated cap table: Link dilution to your model. Watch how a Series A affects your runway and founder ownership in real time.
- 8-slide pitch deck export (PPTX): Revenue, burn, runway, CAC, LTV, unit economics, cap table, exit projection. Direct from your model.
- Transparent pricing: $9.99/month for all exports. Lifetime option also available. No hidden fees, no "call for pricing" friction.
- Pre-built templates: Skip blank-sheet syndrome. Start with a template for your business model (SaaS, marketplace, hardware) and stage.
- Scenario comparison: Model Bear, Base, Bull scenarios. Export all three side-by-side to compare with investors.
Weaknesses we don't hide: Our UX is not as visually intuitive as Causal's pre-acquisition product. We do not offer fractional CFO services like Forecastr. We require manual data entry (no Plaid integration for actuals syncing like Runway). If you need enterprise features (800+ integrations, multi-user collaboration at scale, historical data syncing), Runway or Drivetrain is better.
Pricing breakdown: Who costs what
| Tool | Free tier | Entry paid | Annual discount | Total cost/year (entry) |
|---|---|---|---|---|
| Raise Ready Pro | Yes, full access | $9.99/mo | None | $120/year (or $99 lifetime) |
| Causal | No | Was $250/mo (phased out) | N/A | Not available to startups |
| Forecastr | No | Custom (est. $1k–$5k/mo) | Promotional 25% off | $9,000–$60,000/year estimate |
| Finmark | Yes | $50/mo | None | $600/year (now discontinued) |
| Runway | No | Custom (demo required) | N/A | Unknown (likely $2k–$10k/month) |
Decision tree: Which tool fits your situation
You are pre-seed and need a model fast (under 2 hours)
Pick: Raise Ready Pro. Free tier, templates, no payment friction. Export in 30 minutes if you want.
You are seed and about to fundraise
Pick: Raise Ready Pro. All-in-one: model, cap table, pitch deck export. One source of truth for your model and equity.
You currently use Finmark and need to migrate
Pick: Raise Ready Pro. Same simplicity, plus cap table and pitch deck. Switching cost: zero. Contact support@raiseready.com for migration help.
You need visually stunning scenario planning (whiteboarding style)
Pick: Causal is gone. Your next best option is Raise Ready Pro's scenario builder or Runway (if Series B+ and willing to use sales motion).
You want a fractional CFO to build the model for you
Pick: Forecastr (if budget allows $1k+/mo). Otherwise, hire a fractional CFO directly and use Raise Ready Pro as your repository.
You are Series B+ with complex integrations (Salesforce, Snowflake, Workday)
Pick: Runway. Overkill for early stage, but the AI-powered variance analysis and integration depth pay off at scale.
FAQ
Is Finmark shutting down in 2026?
Yes. Finmark discontinued operations on 1 April 2026 after BILL's acquisition. All users must migrate. Raise Ready Pro is a direct replacement with better integrated features.
Which financial modelling tool has the lowest barrier to entry?
Raise Ready Pro. Free tier with full model building, cap table, and scenario planning. You only pay when exporting. Most competitors charge upfront or require a demo call.
Can I export my financial model to a PowerPoint pitch deck?
Raise Ready Pro is one of the few tools that generates an 8-slide PPTX directly from your model. Causal, Forecastr, Finmark, and Runway do not offer this.
Does Causal still work for startups after the Lucanet acquisition?
No. Causal's startup pricing has been phased out. It is now only available as part of Lucanet's enterprise xP&A suite, requiring custom demos and pricing. Not suitable for pre-seed or seed founders anymore.
What is the biggest weakness of Forecastr?
Opaque pricing and services-first positioning. Forecastr requires a custom demo and sales call to quote. No transparent pricing tiers means founders cannot self-serve. Also includes fractional CFO services, which limits scaling and confuses positioning.
Can I model both my financial statements and equity dilution in one tool?
Only Raise Ready Pro integrates financial modelling with cap table management in a single platform. Competitors like Causal, Forecastr, and Finmark handle P&L and cash flow but do not manage equity. You need a separate tool for cap tables.
What should I do if I currently use Finmark?
Migrate to Raise Ready Pro before 1 April 2026. Raise Ready offers the same simplicity as Finmark, plus cap table integration and pitch deck export. Switching costs are low. Email support@raiseready.com for migration guidance.
Related reading
For more on financial planning and fundraising, read our startup finance blog, explore Raise Ready Pro to build your first model, or check out our book on financial modelling for founders.
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