Foundations and
Definitions

Purpose and Scope

The FFI Standard applies to any company at pre-incorporation stage or later that is building, maintaining, or evaluating its financial infrastructure, regardless of legal entity type, jurisdiction, funding status, or company type. It does not prescribe how financial infrastructure is built or who delivers it. It defines what must exist, at what level of completeness, and by what stage.

The Standard does not constitute financial advice, legal advice, tax advice, or investment advice. Compliance does not guarantee investment outcomes, fundraising success, or financial solvency. The full limitation of liability is set out in the Disclaimer.

Versioning Policy

The Standard follows a three-tier versioning policy. Errata versions correct factual errors without altering any requirement. Minor versions update benchmarks and clarify requirements. Major versions make structural changes and are subject to independent advisory panel review from version 2.0 onward. The current version is Beta v0.5, published April 2026. Version 1.0 is expected by end of 2026.

Prior versions remain permanently accessible at the Version History page. An assessment completed against a specific version remains valid at that version.

Core Principles

Three principles govern the application of the Standard across all Books and all company types.

• Infrastructure, not deliverable. Financial infrastructure is a continuous function maintained at all times, not a set of documents assembled for a specific event such as a fundraise or board meeting.
• Stage-appropriate standards. The compliance requirements vary by stage. A company at Inception Stage is not held to the same standard as a company at Growth Stage. The maturity model in Section 0.8 defines what is required at each stage and level.
• Observational, not prescriptive. The Standard defines common deficiencies as observable conditions, not as judgements about management quality. A deficiency is a gap between what the Standard requires and what currently exists.

The FFI Glossary

The Standard defines 178 terms that carry operative meaning across all seven Books. Each term has a precise definition that governs its use throughout the Standard. Where common usage of a term differs from the Standard's definition, the Standard's definition takes precedence within the scope of this framework.

All 178 terms are available on the Glossary page, each with its operative definition, common misapplication, related terms, and citable URL. The five most foundational terms for navigating the Standard are:

• Financial Infrastructure — the complete system of models, processes, reporting, and documentation a company maintains
• Three-Statement Model — the dynamically integrated income statement, cash flow statement, and balance sheet
• Founder Financial Infrastructure — the category of financial infrastructure specific to early-stage companies
• Unit Economics — the direct financial metrics associated with a single commercial unit
• Cap Table (Fully Diluted) — the complete record of all equity ownership and equity-linked obligations

Company Stage Definitions

The Standard applies different minimum compliance requirements at each stage. Stage is determined by the company's revenue, team, and operational maturity, not solely by funding status.

Company Type Taxonomy

The Standard defines seven company types. Each type has a distinct financial infrastructure profile because the unit economics, revenue model, cost structure, and capital requirements differ materially between types. The compliance criteria in Books 2 through 6 include type-specific notes where requirements diverge.

Company type subpages are available in the For Founders section, each covering the specific compliance notes and benchmarks applicable to that type.

The Compliance Framework

The Standard defines three compliance levels across all domains in Books 1 through 6. Compliance is assessed per domain, not as a single company-level score. A company may be at Level 2 in financial architecture and Level 1 in strategic financial planning simultaneously.

The Financial Infrastructure Maturity Model

The maturity model maps compliance requirements to company stage across the six operational Books. It is the primary tool for assessing where a company currently stands and what is required to progress.