DiligenceX
Commercial DD-light · Example Deal
Demo preview
Institutional deal workspace · sample CDD
NW

Northwind Payments

Institutional deal workspace for a single commercial due diligence process. The workspace shows the current stage, what is already assembled, and what the team should do next.

Sector: Fintech / PaymentsProduct Type: Commercial DD-lightStage: Market AnalysisValidation: In review
Active Add-ons: Expert Calls, OCR, Evidence Pack
Current stage
Market Analysis
3 of 5 workflow stages complete
Content state
68%
Report chapters have draft content
Next best step
Verify claims
Link the market and customer evidence
Workflow strip
Commercial DD-light progression
Current workflow: Commercial DD-light
Progression
3 of 5 stages complete
1DONE
Intake
Materials uploaded and triaged
2DONE
Document Review
Data room and file extraction complete
3CURRENT
Due diligence
Sizing, segmentation, and competitor readout
4PENDING
Verification
Expert claim validation
5PENDING
IC Ready
Deliverable locked for committee use
Chapter progression
What is drafted and what can be accelerated
Click a chapter to continue editing or to inspect its source base
Executive summary
Core thesis, risks, and decision view
Draft ready
100%
Company
Profile, operating model, and ownership
Building
84%
Market
TAM, dynamics, and growth drivers
Building
78%
Competition
Benchmark, moat, and positioning
Needs review
61%
Customer
Concentration, cohorts, and renewal risk
Verification
73%
IC memo
Decision framing and committee pack
Assembling
52%
Thesis · One-pager

Northwind is a top-quartile EU B2B payments play, mispriced by legacy TAM assumptions.

Verdict
Proceed with conditions
Bid range
€380-420M EV
Hold period
4-5 years
Theses
  1. Market is €4.2B at 14% CAGR, vs. plan's €2.8B. Undershoot driven by outdated ECB segmentation. OW-25
  2. Product leads on time-to-settle (1.8h vs. 6.2h market median) - moat confirmed by 9 of 14 experts. EXP-avg
  3. Unit economics: LTV/CAC of 4.2x, payback in 13 months at current blend. DD-fin
  4. Regulatory tailwind: PSD3 + DORA favour incumbents that are already compliant. Northwind is 5 of 8 controls. ECB-Q4
Red flags
Customer concentration · top-3 = 58% ARRHigh
DORA compliance gap · 3 of 8Med
FX exposure · EUR/GBP receivablesMed
Key-person risk · CTOLow
Upside
Cross-sell
SME lending via existing base
+€28M ARR
Geo
DACH expansion via acquihire
+€18M ARR
Pricing
Tiered API pricing
+220bps margin