Salt Lake City, September 8, 2026 – NOW CFO, a leading fractional finance and outsourced accounting firm, announced today the acquisition of Formation Financial. Founded in 2018, Formation Financial is a San Francisco Bay area-based firm specializing in finance, accounting, and HR support for venture- and private equity-backed startups. Terms of the transaction were not disclosed.
Formation Financial will continue to operate under its existing brand, with day-to-day operations led by founder David Mozaffarian. As part of NOW CFO, Formation will anchor a dedicated practice built for startups from pre-seed through Series C, covering runway forecasting, board and investor reporting, fundraising readiness, and audit-ready financials.
“Formation brings us a team that knows the venture-backed market inside and out. This acquisition adds real depth to our team and extends our reach in one of the most important markets in the country,” said Randy Christensen, CEO of NOW CFO. “David built Formation on the same things we value: experienced people, clear financial visibility, and an intense dedication to client service. Together, we will bring an even higher level of service to startups and other high growth companies nationwide.”
The acquisition strengthens NOW CFO‘s presence in Northern California while adding consultants who serve clients nationwide. It continues the firm’s strategy of broadening and deepening its offerings to serve specialty end markets across industries and stages of growth.
“When I started Formation, I wanted to give founders finance they could build on. Joining NOW CFO is how we do that for far more companies at a moment when AI is changing what finance and accounting can deliver,” said David Mozaffarian, Founder of Formation Financial. “For our clients, what they count on stays the same; same team, same high-level quality and service. Now, we’re better equipped to give startups faster and sharper insight.”
NOW CFO clients will immediately gain specialized expertise in venture-backed finance and fractional HR, while Formation clients gain access to NOW CFO‘s nationwide consultant network and global delivery team. Integration activities will commence immediately focusing first on internal operations to ensure a seamless experience for Formation’s clients.
About NOW CFO
NOW CFO delivers flexible finance and accounting solutions built to scale with your business. Since 2005, NOW CFO has partnered with companies nationwide to provide financial clarity and visibility through fractional CFO and controller support, project-based engagements, interim solutions, and permanent hires. Clients work with experienced consultants for the hours they need, when they need them, scaling up or down as priorities change. With more than 300 consultants and a global footprint, NOW CFO helps leaders understand their numbers and act on them with confidence.
