Financial Modeler's Corner

Why Spreadsheets Will Stay, but Financial Modeling Workflow and Version Control Must Be Rebuilt with Matt Lee

Sep 9, 2025
Matt Lee, Co-Founder and CEO of Nummo, brings a wealth of experience from investment banking and as a CFO. He discusses the necessity of human input in financial modeling, even as automation increases. Matt shares insights into common modeling frustrations and how Nummo aims to streamline workflows without replacing analysts. The conversation touches on the evolving role of AI, the importance of maintaining accuracy, and the persistent relevance of Excel. He also highlights lessons learned from the industry, emphasizing the need for detailed attention in financial analysis.
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ANECDOTE

Learning Under Fire

  • Matt learned the most under extreme pressure building 100+ tab fairness opinion models with tight deadlines.
  • Those high-stakes nights taught him detailed, production-grade modeling habits he still values.
ANECDOTE

Hidden Hardcodes Forced Rebuilds

  • Matt frequently inherited models with hidden hard codes that forced rebuilds.
  • Discovering those hidden breaks convinced him to always trace numbers to sources.
INSIGHT

On-Device Co-Pilot For Bankers

  • Nummo is an on-device AI-native app that preserves cell-level fidelity and runs offline for security.
  • It targets sell-side M&A workflows like operating models, DCFs, LBOs, and comps.
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