1. What is Quaestor?
Quaestor is a simple utility for Board Members, Major Investors, and CEOs that facilitates good governance. It displays high-level financial metrics, highlights key transactions, flags unusual activity, and facilitates dialog to protect all parties involved. Quaestor is Founder-friendly and gives CEOs control over the level of transparency while still enabling governance workflows with little effort and time required.
2. Why Quaestor?
Quaestor was created by investors and entrepreneurs who realized a utility for financial transparency should exist in the ecosystem. Quaestor is being used by Board Members in carrying out their fiduciary duty, by investors managing their portfolio, and by investment firms during financial due diligence—an important first step in alignment between responsible CEOs and Major Investors.
We’re a neutral third-party (similar to a financial auditor) providing information services for investment firms, Board Members, and CEOs.
3. Why should I sign-up for Quaestor?
Quaestor enables CEOs, along with their Board and Major Investors, to establish good governance practices and adds an additional layer of protection for all parties.
Quaestor connects to a company’s bank accounts with read-only access and automatically shares financial metrics—this means less work for both parties in requesting and sending necessary information. Quaestor was built with privacy in mind. Our simple controls and settings allow for customized distribution, and only select information will be sent to the appropriate party.
4. How much time will Quaestor require?
Time requirement would be almost none—initial setup can be completed in a couple minutes. Quaestor automated reports are sent monthly with the option for CEOs to add context if necessary; there are no obligations to comment.
5. What financial information will investors have access to?
Cash in bank, cash flow, and runway are standard KPIs Founders share with their Board and Major Investors—these are the same metrics Quaestor automates and shares on the Investor Dashboard.
Quaestor also surfaces insights with trends and flags key transactions through a monthly report. CEOs control which insights, along with transaction amounts, will be shared and with whom it’s shared.
6. Who controls the access to a startup’s information?
CEOs are in control of the shared information. Settings for financial accounts are accessible only to CEOs with the ability to disconnect the information at any time. CEOs are also able to set the cadence for when metrics are updated.
Please note, as a governance and anti-fraud utility, Board Members and Major Investors will be made aware of any material changes in the company’s settings.
7. How secure is Quaestor?
Security is central to the application. Our application has bookeeper, read-only access to a company’s bank account. It uses 256-bit encryption along with 2-factor authentication and sign-in with Google. Quaestor does not store bank credentials which are handled by Plaid, a secure, financial API (more on Plaid below).
8. How does Quaestor access a company’s bank accounts?
In order to access a company’s bank accounts, a Founder sets up the link between their banks and Quaestor. We use Plaid, a financial API used and trusted by American Express, Fannie Mae, Venmo, and many other financial applications. Through Plaid, we have a safe, standard access that is read-only. Quaestor does not introduce risk but mitigates it.
9. Does Quaestor store the credentials to financial institutions after account(s) are linked?
No, this information is stored on Plaid’s secure servers. Quaestor does not see nor store bank credentials.
10. How does Quaestor treat transaction data?
Quaestor flags key transactions (which are important or have significant relevance) through basic machine learning and shared in monthly reports with Board Members and Major Investors. CEOs can define and modify key transactions and amounts that are shared. Quaestor also utilizes transaction data to calculate cash flow and runway.
By surfacing key transactions, Board Members and Major Investors can leverage their network to reduce costs on expenses.
11. How accurate is Quaestor?
Quaestor’s cash balance, cash flow, and runway metrics are as accurate as possible with zero data input. In some scenarios (such as a funding round), Quaestor will flag a transaction for CEOs to identify in order to show correct cash flow and runway. Future integrations with QuickBooks and NetSuite will further reduce the need for inputs and time from CEOs.
12. How much does Quaestor cost?
Quaestor is a portfolio management tool and as such is paid for by investment firms.
13. What might Quaestor do in the future?
For companies that are interested, we plan to better support their financial teams by connecting to accounting systems of record, effectively track and communicate KPIs, and automate board deck creation. We will reduce reporting work so CEOs can focus on operation and execution. And Quaestor will be the Silicon Valley standard for how Board Members, Major Investors, and CEOs work together in building successful companies.
14. I received an invitation to join Quaestor. What are next steps?
Awesome! Click the link in your invitation email to sign up for Quaestor. On-boarding and connecting your bank account takes less than five minutes. You should link all of your company’s accounts. Once complete, you and your investor will have access to your company’s financial metrics.
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