# Toddle Financial Model Visual no-code/low-code platform for building production-grade SaaS web applications without writing code - Canonical: https://finamodel.com/startups/toddle - Excel download: https://finamodel.com/startup-models/toddle.xlsx - Category: Dev Tools - Model type: SaaS ARR / Valuation - Funding round: Seed - Funding: $4.3M - Founded: 2024 - Geography: Copenhagen-based (Denmark); global user base implied by community examples - Customer: B2B ## About the company toddle is a visual platform for building production-grade SaaS web applications without traditional coding. It lets engineers, designers, and marketers work in the same product, reducing development bottlenecks for complex web experiences. The company has a small team but a self-sufficient community that answers most support questions and creates extensive user-generated content. Its expected commercial model is product-led seat or workspace SaaS with a free entry tier. The model is PLG ARR: community users, activation, paid conversion, workspaces, seats, expansion, and churn build revenue. Community support, product usage, and enterprise adoption determine gross margin and retention. ## What's included - 5-year monthly revenue build with stage-appropriate growth assumptions - Full P&L, headcount plan, and operating-expense schedule - Cash-flow statement, runway, and burn-rate tracking - Valuation via exit multiple with a DCF cross-check - Returns analysis with MOIC and IRR - Unit economics including CAC, LTV, payback, and cohort retention ## Product & value proposition toddle is a visual web-app builder targeting the gap between no-code tools (Webflow, Bubble, Figma) and code frameworks (React). The key claim: SaaS applications - the highest-complexity tier - have not been penetrated by no-code tools; toddle fills that gap. Role-based workflow: engineers program business logic, designers implement UI, marketers update copy - all in the same tool, without developers bottlenecking every change. The editor itself is built in toddle (recursive self-hosting cited as social proof). ## Market No TAM/SAM/SOM figures presented. Qualitative framing: - Design tools: Figma + 5+ competitors (NoCode-penetrated) - Website builders: Webflow + 100+ tools (NoCode-penetrated) - Prototyping: Glide + 10+ tools (NoCode-penetrated) - MVP builders: Bubble + 10+ tools (NoCode-penetrated) - SaaS / production apps: React + 10+ frameworks (Code-dominated - toddle's target) No quantified market size in deck. ## Revenue model Implied model based on product category: SaaS subscription (seat-based or workspace-based), consistent with Webflow/Bubble comps. PLG (product-led growth) implied by strong community, user-generated YouTube/podcast content, and free-tier assumption from viral adoption pattern. ## Traction & metrics - Team size: 5 people - Community self-sufficiency: "Eight months ago we answered all support questions, now 90% are answered by the community before we get a chance to reply" - User-generated content: "hundreds of hours of video content across YouTube, podcasts, and Loom" - Solopreneur customer: Localpost (New Zealand community noticeboard) - Startup customer: syncdesk (previously used WeWeb and Bubble) - Agency customer: Productminds - "toddle will simply make us more profitable. We ship faster, but also see significantly reduced overhead. Even enterprise/public clients like it." - Team background: CEO previously VP Engineering at Cylindo ($130M exit); CDO from Better Collective (IPO 2018) No revenue figures, user counts, MRR/ARR, churn rates, or growth rates stated anywhere in the deck. ## Competition / moat Competitors named: - Low complexity: Figma (design), Webflow (websites) - Mid complexity: Glide (MVP), Bubble (MVP/app) - High complexity: React + 10+ frameworks (SaaS - toddle's direct fight) Moat claims: - Self-hosted editor (recursive: the tool is built in the tool) - Highly engaged community generating organic content (hundreds of hours of YouTube/podcast/Loom) - Community self-support: 90% of questions answered before team can respond - Targets SaaS complexity tier that no no-code tool has cracked ## Team & funding ask / use of funds Team (5 people): - Andreas Møller - Co-Founder, CEO; previously VP Engineering at Cylindo ($130M exit); Co-Founder at Mesopo - Kasper Svenning - Co-Founder, CDO; UX/UI Designer at Better Collective (IPO 2018), Cobiro - Erik Beuschau - Platform Engineering; Director of Engineering at Cylindo - Vakis Rigas - Product Marketing; Head of Product Marketing at Typeform; Global Product Lead at Google - Jacob Kofoed - Sr. Engineer, Dev Experience; Senior Engineer at Cylindo --- ## Recommended financial model - **Archetype + why:** SaaS ARR subscription model (PLG / bottoms-up). toddle is a SaaS-category no-code tool with a product-led growth motion (viral community, user-generated content, self-service adoption). The right archetype is a seat- or workspace-based SaaS model with a free/trial tier converting to paid, tracking MRR/ARR, cohort churn, and expansion revenue. No revenue or pricing data in deck - model must be built on assumed benchmarks from comparable PLG dev-tools peers (Webflow, Bubble, Retool). - **Forecast horizon & granularity:** Monthly for Year 1–2; quarterly rollup for Years 3–5. Total 5-year forecast. - **Key drivers & assumptions:** - Pricing tiers: Free tier + paid plans (e.g., ~$49/mo Starter, ~$149/mo Pro, ~$499/mo Team) - consistent with Webflow/Bubble/Retool positioning; no deck data - New signups / month: PLG funnel - start at ~500 new free signups/mo, growing 10–15% MoM early-stage; rationale: strong community + viral YouTube content implies organic pull - Free-to-paid conversion: 5–8%; standard for PLG dev-tool products - Average seats per paying workspace: 2–4 seats; solopreneur + small-team use cases implied by customer showcases - Monthly churn (paid): 3–5%; sticky tool once apps are built on it - Gross margin: 70–80%; hosting/infra costs typical of SaaS; toddle may pass hosting to users (BYO backend implied in testimonials) - Headcount: 5 FTE at time of deck; scale to ~15–25 FTE by Year 2 post-raise - CAC: $0 blended for organic/community-driven (PLG); paid CAC if paid channels added ~$200–500/customer - LTV: depends on ARPU × (1/churn); at $150/mo ARPU and 4% churn = ~$3,750 LTV - **Scenarios (Base / Bull / Bear - which variables flex):** - Bear: Slow free-to-paid conversion (3%), higher churn (6%), slower signup growth (8% MoM) - Base: Mid conversion (5–6%), churn (4%), signup growth (12% MoM) - Bull: Strong PLG flywheel (8% conversion), low churn (2.5%), faster signup growth (18% MoM), expansion revenue from team upgrades - **Required sheets / outputs:** 1. Assumptions - all drivers with toggles for scenario 2. User Funnel - free signups → paid conversions → active paying workspaces by cohort 3. Revenue - MRR/ARR build (new, expansion, churn waterfall) 4. P&L - Revenue, COGS (hosting/infra), Gross Profit, S&M, R&D, G&A, EBITDA 5. Headcount Plan - by function, with salary load 6. Cash & Runway - burn rate, ending cash, months of runway 7. Dashboard - ARR, MRR growth, churn, LTV:CAC, gross margin, runway ## Frequently asked questions ### Is the Toddle financial model free? Yes. The Toddle model is a free Excel download with live formulas. ### Can I change the assumptions? Yes. The workbook is editable and its live formulas recalculate when assumptions change.