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We improve the analytical capability of our clients and help them realise successful transactions

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We build financial models and other analytical tools to help our clients make sound decisions based on useful, reliable and timely analysis.



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Operational models

We provide a simple solution for bespoke, high quality operational models. We combine a straightforwrd process with competitive and transparent pricing to deliver outstanding models to our customers at great value.

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Project finance

We provide modelling support through the complete life of an asset from project development and bid modelling, through to secondary transactions. We facilitate and perform analysis for optimisation, refinance and restructure.

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Corporate modelling

Our team has experience providing business modelling to businesses from the FTSE 100 to start-ups and from salmon fisheries to TV production; helping them fundraise, complete transactions and strategise. One way we help our clients is through the automation of management and board reporting.

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Fund analysis

Our expertise is particularly evident when modelling funds and consolidating asset models due to our team's experience both in consulting and industry.

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Additional services

Further to the categories above we have experience with many other valuation and analysis challenges, including valuation of share-based payments and automation tools.

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Every member of our team has been financial modelling for over a decade, covering a wide range of industries and types of analysis. We have all worked in industry and have an appreciation of the demands placed on our clients.


A lot of thought, experience and feedback has been put into all of our in-house standards and practices. This allows us to consistently produce robust and user-friendly models that meet our clients' needs and exceed their expectations.

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Our directors were the primary authors of the ICAEW’s Financial Modelling Code. These guidelines have been either formally or informally endorsed by the top 9 accounting firms and other specialist modelling firms, and are the best available proxy for international financial modelling standards.

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Combining our experience and tools allows us to deliver work in fewer chargeable hours than our competitors.  Being sticklers for the rule book and focused on high-quality deliverables means our end product is unmatched. Putting these together gives our clients industry-leading value.

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We have spent years developing our own bespoke modelling and Excel toolkit, which allow us to be efficient with our model build time while helping ensure our models are robust.


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The White Box Financial tools have given our investment performance team a leap forward in our ability to both run periodic processes and to evaluate future portfolio compositions. The convenience of being able to call up the White Box Financial team about any modelling or analytical query and receive rapid support has been invaluable.







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Managing Director

Levi founded WBF in September 2016. He has over 15 years’ experience in engineering, finance and management consulting. His interest in modelling began in 2007 when he worked in corporate finance for International Power (now Engie).

At WBF, Levi’s main focus is delivering modelling projects. His sector experience includes energy, construction, real estate, transport, technology and food.

Outside of project delivery, Levi’s main responsibilities are executing on strategy and developing our tools.

Levi holds a first in mechanical engineering, is a CFA charter holder, runs the modelling subreddit, and organises meetups for modellers in London.

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Managing Director

Alex joined WBF in August 2019, moving on from his role as Head of Valuation at John Laing. He started his career with 8 years of financial modelling consulting, touching on a wide variety of industries.

At WBF, Alex’s main focus is delivering modelling projects. His project experience spans the breadth of WBF offerings. He has experience working with clients from FTSE 100 firms to start ups.

Outside of project delivery, Alex's main responsibilities are optimising our operations and training new analysts.

 Alex holds a BSc in Mathematics, is a qualified accountant and a member of the ICAEW Excel Advisory Committee.


Theo is a highly experienced and exceptionally skilled financial modeller. He has over 15 years’ experience in finance and management consulting, with a sustained focus on financial modelling and analytics.

At WBF, Theo’s main responsibility is delivering modelling projects. His sector experience includes healthcare, energy, transport, banking, mining and real estate.


Theo is also MD and Founder of Lentran Modelling Solutions, an advisory firm and strategic partner of WBF.

Theo holds a BA(Hons) in Economics and has delivered dozens of financial modelling training courses worldwide.

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Bill is regarded as a leading figure in the MENA utilities sector, having advised governments or developers in respect of major projects in every key market in the region. He has over 25 years of experience in project finance.

Bill is founder and managing director of Alderbrook Finance, and prior to that he was head of Project & Infrastructure Finance at Citigroup.  He assists White Box Financial in an advisory and strategic capacity.

Bill is a Chartered Accountant and holds a First Class degree in mathematics from Oxford University.




White Box Financial is committed to being a force for good.

We help other business to develop projects, improve their operations and make decisions. The initiatives we support have a footprint that is orders of magnitude greater than our own. Our guiding principle here is that we do not support initiatives that have a broadly negative impact on humanity or the environment and where, in our opinion, viable positive or less harmful alternatives exist.

As a matter of policy:

• We do not support individual projects or assets in the following areas:

     o Electricity generation from burning fossil fuels, including coal, oil and gas.

     o Exploration, extraction or processing of fossil fuels.

     o Infrastructure that primarily exists to support any of the above, for example railways or ports that were clearly

        developed to enable coal mines.

     o Long-distance fuel pipelines.

• For organisations that own or operate multiple assets, including any assets in the areas above:

     o We will support them on individual projects in other areas. For example, if an energy company owns a coal

        fired power station, we will assist them with the development of solar and wind projects.

     o We will only support them with group or portfolio-level assistance if they have committed to the UNFCCC Climate

        Neutral Now pledge, or another pledge that is equal or stronger in all respects, and are living up to it.

This policy is intentionally simple and prescriptive. It targets the harmful projects that we are commonly invited to work on. We recognise that fully evaluating the merit of an individual project would require more nuance and there may be rare situations where this policy prevents us from working on projects that do align with our values – we accept this and do not make exceptions.

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Whether you have a big project or just need some modelling guidance, our team loves to learn about new projects and businesses. Please do get in contact.

Call us    +44 (0) 208 123 7960

We will be in touch soon!