Abatable Financial Model
Climate/Energy Startup Financials (Free Excel Download)
Robo-advisor platform for sourcing and managing high-quality carbon removal offsets, targeting asset managers.
professionals from Deloitte
Used by professionals from
About this model
Abatable is a robo-advisory platform for asset managers buying high-quality carbon-removal credits. It curates portfolios, vets credit quality, and finances developers through forward supply arrangements; the deck says it has secured 6.3 million tCO2e of credit supply.
The commercial opportunity is the voluntary carbon market and the large asset managers making net-zero commitments. Abatable sells into PE, hedge fund, and alternative-asset managers, where offsetting investment holdings can create substantially more demand than offsetting a company's own operations.
The model should combine client carbon budgets and credit prices with an advisory or transaction fee, plus any recurring management fee. It also needs a supply-financing schedule: committed offtakes create balance-sheet funding needs, interest cost, and potential financing income alongside the marketplace margin.
A turnkey financial model
Live formulas, no hardcoded values
Outputs are driven by live formulas, so the workbook updates from its assumptions instead of relying on hardcoded results.
All assumptions in one tab
Inputs are clearly marked in the Assumptions tab and separated from calculations, making it clear what to change and what to leave intact.
Statements always balancing
For integrated-statement models, the balance sheet, cash flow, and supporting schedules tie through properly.
Distinct schedules for clarity
Debt, working capital, taxes, and cash flow can get messy quickly. We group calculations in clear schedules, not across disconnected tabs.
No hidden macros or external links
There are no unexplained external workbook links or macros to undermine auditability or portability.
Changes flow through the model
Update a key driver and see the impact carry through the forecast, financing, and return outputs. We never use hardcoded numbers in formulas.
About Abatable
abatable.com
How to build a detailed financial model for Abatable
A complete walkthrough of the business, drivers, and assumptions behind the downloadable Abatable model - distilled from its pitch deck and publicly available information.
Product & value proposition
- Platform described as a "robo-advisor for high quality carbon offsetting".
- Three core pillars:
- Portfolio diversification - curated mix of high-quality removal credits.
- Trusted quality - vetting/selection layer to avoid reputationally risky avoidance credits.
- Exclusive and financed supply - Abatable finances project developers to secure supply ahead of demand.
- Supply-side angle: 6,300,000 tCO2e of credits already secured - this is a key moat claim.
- Also offers "finance solutions for devs to secure supply", suggesting a project-financing or forward-offtake product alongside advisory.
Market
- Global Voluntary Carbon Market (VCM) projected to grow 100x by 2050 to $300B:
- Volume: 0.1 → 10 GtCO2e
- Price: $5 → $30/tCO2e (6x increase)
- Net Zero Asset Managers initiative: $43T AuM, 128 signatories committed to net zero by 2050.
- SAM (stated): $5B annual market opportunity from Net Zero Asset Managers segment alone - marked with asterisk, methodology not disclosed.
- Key names already in high-quality offset market: Microsoft, Stripe, Shopify, BCG (used as proof-of-demand, not customers).
Revenue model
- Not explicitly stated in deck.
- Implied model from product description:
- Advisory/platform fee on carbon credit procurement (% of transaction or AuM-style management fee).
- Possible spread/margin on credit resale if Abatable acts as principal buyer and resells to clients.
- Potential financing income from project developer loans/forward offtake.
- Channels: Direct B2B sales to asset managers (PE, hedge funds, alt asset managers).
Traction & metrics
- 6,300,000 tCO2e supply of credits already secured - only concrete traction metric.
- No revenue figures, customer counts, ACV, or growth rates in deck.
- Social proof: Microsoft, Stripe, Shopify, BCG cited as companies already buying high-quality removal offsets (not stated as Abatable customers).
Competition / moat
- Implicit competitive framing: incumbents rely on cheap avoidance credits that carry reputational risk (Bloomberg, Guardian citations).
- Moat claims:
- Proprietary secured supply (6.3M tCO2e already locked up).
- Specialist expertise in carbon + finance + tech (Goldman Sachs ESG, Google, Monzo, Uber, Facebook backgrounds).
- Target segment (asset managers) is underserved - demand scales 10–15x vs. operations-only footprint as AMs offset investment holdings.
Team & funding ask / use of funds
- Maria Eugenia Filmanovic, Co-founder - Goldman Sachs VP (ESG & Impact Investing, Nature-based Carbon Procurement).
- Valerio Magliulo, Co-founder - PM background at Google, Monzo, Uber, Facebook.
- Ed Schikurski, Head of Engineering - Staff Engineer at Monzo.
Recommended financial model
- Archetype + why: Carbon marketplace / B2B advisory revenue model with a supply-financing sub-model. Closest analogue is a commodity trading desk + SaaS advisory hybrid. Revenue modelled as: (1) transaction fee/spread on credit volumes procured for clients; (2) optional AuM-style annual management fee if clients place a recurring budget; (3) financing income on developer offtake agreements. A 3-statement P&L + cash flow is needed because the supply-financing book creates a balance sheet asset and funding requirement.
- Forecast horizon & granularity: 5 years (Year 1–5), monthly in Year 1 (to track cash burn and supply-book drawdown), quarterly thereafter.
- Key drivers & assumptions:
| Driver | Value |
|---|---|
| Total addressable volume - Net Zero AMs segment | $5B annual spend |
| VCM volume growth to 2050 | 100x (0.1→10 GtCO2e) |
| Carbon credit price (current) | ~$5/tCO2e (avoidance); premium removal credits $20–50 |
| Carbon credit price (2050 target) | ~$30/tCO2e |
| Secured supply pipeline | 6,300,000 tCO2e |
| Primary customer segment | Asset managers (PE, hedge funds, alt managers) |
| Demand multiplier vs. operations offset | 10–15x as AMs offset investment holdings |
| Transaction / advisory fee margin | 5–10% of credit value |
| Average client annual spend (Year 1) | $500K–$2M |
| Clients won (Year 1) | 3–5 |
| Client growth rate (YoY) | 50–80% |
| Supply financing cost of capital | 8–12% p.a. |
| Gross margin on advisory | 60–70% |
| Opex - headcount ramp | 3 FTEs now; +2/yr |
| Average salary (blended) | $120K |
- Scenarios (Base / Bull / Bear - which variables flex):
- Base: Win 4 asset manager clients in Y1, grow 60% YoY; advisory fee 7%; carbon price follows deck midpoint trajectory.
- Bull: Demand from investment-holdings offsetting materialises quickly (10x multiplier); 2–3 enterprise mandates per year from Y2; price premium on removal credits expands.
- Bear: VCM regulatory or reputational setback slows corporate commitments; supply secured is harder to monetise; pricing pressure compresses margins; client ramp takes 2x longer.
- Required sheets / outputs:
- Assumptions - all drivers, switchable by scenario.
- Volume model - tCO2e procured per client × clients; secured supply drawdown schedule.
- Revenue build - advisory fee revenue + financing income.
- P&L (Income Statement) - revenue, COGS, gross profit, opex, EBITDA.
- Cash flow - operating cash + supply-financing book (capex-like asset build).
- Balance sheet - supply inventory / forward contracts as asset; funding liability.
- Funding need - when does cash run out; how much equity/debt required to finance supply book.
- KPI dashboard - tCO2e procured, clients, revenue per client, gross margin, cash runway.
Frequently asked
Is the Abatable financial model free?+
Yes. The Abatable model is a free Excel (.xlsx) download with live formulas. Sign up with your email and the workbook is yours to keep, review, and edit.
What's included in the model?+
A 5-year monthly forecast with P&L, cash flow and runway, valuation (exit multiple plus a DCF cross-check), MOIC/IRR returns, and unit economics, with live formulas throughout.
How was this model built?+
It was built from Abatable's pitch deck and publicly available information, then structured to investment-banking standards as a fully editable Excel model.
Can I change the assumptions?+
Yes. You can change assumptions and the live formulas will recalculate in the downloadable Excel model.
Have more financial modelling questions? Contact us
Created by ex-finance professionals
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