Figma’s CFO on Going Public, AI, and Working Alongside Dylan Field | Praveer Melwani

First Round Capital
First Round CapitalMay 14, 2026

Why It Matters

The CFO’s journey shows how adaptable finance leadership, combined with AI‑enabled decision tools, can accelerate scaling and public‑market readiness for high‑growth tech companies.

Key Takeaways

  • Timing and supportive leadership propelled CFO’s rapid growth at Figma.
  • CFO embraced “sponge” mindset, learning across finance, ops, legal, sales.
  • Building cross‑functional teams required hiring, questioning, and influencing executives.
  • Shift to AI‑driven pricing demanded data, market analysis, and user feedback.
  • Leveraging AI tools and peer networks accelerates decision‑making and learning.

Summary

In this interview, Figma’s chief financial officer discusses his unconventional rise from an early‑stage finance hire to the CFO of a public company, highlighting the role of timing, supportive leadership from founder Dylan Field, and a willingness to learn on the job. He describes how he treated every new responsibility—whether finance, legal, security, or sales operations—as a chance to be a "sponge," asking the right questions and surrounding himself with experts to fill knowledge gaps. Key insights include the rapid expansion of his remit after the COO’s departure, the need to hire and develop functional leaders without a playbook, and the importance of influencing senior executives beyond spreadsheets by understanding their motivations. The CFO also details the current challenge of transitioning Figma’s pricing model to accommodate AI‑driven consumption, requiring rigorous market and financial analysis combined with real‑time user feedback. Notable anecdotes illustrate his learning process: volunteering to build the legal and compliance functions, using an "external brain" AI tool to aggregate organizational context, and treating peer CFOs as thought partners rather than prescriptive advisors. He emphasizes community‑led growth, noting how listening to freelancers and power users shapes product and pricing decisions. The conversation underscores a broader shift in the CFO role—from traditional accounting steward to cross‑functional strategist who leverages AI, data, and collaborative networks to drive growth. For fast‑moving tech firms, this adaptive approach is increasingly essential for scaling operations, navigating public‑market expectations, and staying ahead of emerging revenue models.

Original Description

In this latest episode of Executive Function, Brett sits down with Praveer Melwani, CFO at Figma. Praveer joined Figma in 2017 as the company's first business operations and finance hire—when the team was around 30 people and not yet charging for the product—and stepped into the CFO seat in 2022, helping to lead the company’s IPO in 2025. In today’s conversation, Praveer breaks down the step functions that took him from IC to CFO, why Figma started acting like a public company three years before IPO, and how AI is rewriting capital allocation and the CFO job itself.
In today's episode, we discuss:
• What separates a world-class finance leader from a traffic-cop CFO
• How Praveer went from Figma's first biz ops hire to CFO of a public company in nine years
• Why Figma started acting like a public company three years before its IPO
• What Praveer has learned working alongside Dylan Field for nine years
• Why Figma intentionally cut its 90% gross margin to invest in AI
References:
Where to find Praveer:
Where to find Brett:
Where to find First Round Capital:
• First Round Review: https://review.firstround.com/
• This podcast on all platforms: https://review.firstround.com/podcast
Timestamps:
00:00 Introduction
02:13 From banking to Dropbox to Figma
04:14 The phase shift when Figma's COO left
05:36 Hiring leaders in functions you don't understand
07:18 Selling the exec team on AI consumption pricing
09:48 Using Claude Code to learn new things as CFO
11:36 Building an internal board of peer CFOs
13:52 Inside Figma's CFO job description
16:38 What separates good CFOs from world-class CFOs
18:42 Capital allocation and risk in a post-ChatGPT world
21:45 Why Praveer wants to take more bets
24:32 How AI is materially changing the CFO role
25:36 The nine-year working relationship with Dylan Field
29:12 How deeply in the details should a CFO be?
31:47 What Dropbox taught Praveer about building strong teams
33:24 Praveer’s first-principles test for hiring VPs
38:47 Why Figma acted like a public company in 2022

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