Calculator

How much capital a company needs — and what it gives up

The question for an investor is not “how much I want to raise” but “how much I really need to reach self-funding, and what share I give up for it”. The calculator adds a buffer, computes runway and dilution — and checks whether debt would be cheaper.

Cash todayPLN mMonthly cash resultPLN mnegative = cash burn per monthInvestment needPLN mmachines, team, expansion — totalHorizon to self-fundingmonthsin how many months the cash result turns positiveCompany valuation before the investorPLN mpre-money; leave blank if unknownAnnual EBITDAPLN mto check whether debt would be cheaper

Real capital need

4,0 PLN m

with a 20 % buffer for everything taking longer

Cash burn until self-funding: 1,4 PLN m
Runway after the raise: 26 months
Owner dilution: 25 %
Debt capacity (3 × EBITDA): 3,3 PLN m

Investor capital makes sense, but open the conversation at this amount, not a smaller “trial” one. A second round in six months costs more than a buffer today.

An indicative tool: the result is an order of magnitude on your assumptions, not a valuation or tax, legal or investment advice. Data entered into the form is never sent or stored anywhere.

How it is computed

1Burn until self-fundingThe negative monthly cash result times the number of months until it turns positive. If the result is already positive, burn is zero and the need is the investment alone.
2Runway and dilutionRunway = how many months the cash lasts after the raise at today’s burn. Dilution = need ÷ (pre-money valuation + need) — the percentage of the company the investor receives for the money at the valuation you entered.
3Debt capacityThree times EBITDA is the indicative ceiling up to which banks in Poland finance companies without special security (2025–2026, depending on sector). If the whole need fits within it, investor capital is the dearer option — you give up shares where interest would do.

Compute the company’s loan instalment and capacity

Frequently asked questions

Where does the pre-money valuation come from?

From a conversation with the investor or from your own valuation — the valuation calculator on this site gives an order of magnitude from seven numbers. If the company has no EBITDA yet, pre-money is a negotiation outcome, not arithmetic; enter two values and see how dilution changes.

Is a 20 % buffer too much?

In the investment projects I have seen, running a fifth over budget and schedule is the norm, not the exception. A buffer can go unused; a second round at a bad moment cannot be undone.

When debt and when equity?

Debt — when cash flows are predictable and the need fits within capacity; the cost is interest, the shares stay. Equity — when the company has no stable EBITDA yet, risk is high or the need exceeds what a bank will finance. A mix is often best, and that is what is worth discussing.

Let’s talk about your situation

Write a few sentences about the company and the problem. I reply within two working days and the first conversation is free.

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