Technical Clarity on a Competitive Deal
How Fortino Capital got a fast, independent read on the technology stack of a high-pressure competitive deal
“When you're competing for a deal and the process is moving fast, you can't afford to skip the technical read. X-Ray gave us what we needed before we committed to terms.”
About Fortino Capital
Fortino Capital is a Belgian growth equity investor focused on B2B software companies at Series A through Series C. The firm partners with ambitious founders building category-defining software businesses, combining capital with operational support to accelerate growth. Fortino has invested in some of Europe's most successful B2B SaaS companies and brings a hands-on approach to supporting portfolio companies on product, sales, and international expansion.
The challenge: conviction under time pressure
Growth equity deals in competitive processes move fast. When Fortino identified a high-interest B2B software company with strong commercial traction and multiple investors circling, the window to complete diligence before term sheet discussions was tight. The company had an impressive product and a capable founding team, but the technology architecture — and how much runway the existing stack would give the business — remained an open question.
Fortino needed a technical view that was fast enough to be useful in an active deal process, independent enough to be credible with their IC, and specific enough to inform pricing and term sheet structure rather than just providing a general risk assessment.
What X-Ray delivered
Scaleflow ran an X-Ray on the company within one business day. The report covered architecture design and scalability headroom, code quality and technical debt profile, security posture, infrastructure setup, and team structure against the product roadmap. Two significant findings were surfaced: a legacy data model that would require re-engineering to support the enterprise segment Fortino was backing the company to enter, and a concentration risk in the engineering team.
Both findings shaped Fortino's term sheet structure and post-investment plan. The team was able to enter negotiations with a clear view of the investment required to address the technical gaps — and with a plan for the first six months that was grounded in engineering reality rather than founder optimism.
Results
- ✓Technical assessment completed within one business day inside an active deal process
- ✓Two material findings identified that directly shaped the term sheet structure
- ✓Deal team entered negotiations with a clear, costed view of technical investment required
- ✓X-Ray findings used as the basis for a structured post-investment technical roadmap
Services