Hola,
We are bnc10!
Investment Deck
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Index
1. What is bnc10?
2. Key Features
3. Why invest in bnc10
4. Business Model & Financials
5. Team
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What is
bnc10? 3
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bnc10 is your everyday hub for all your financial needs,
by allowing you to create an account digitally in less than 5
The banking mins.
In the first 9 months we acquired over 40,000 users from
alternative for Spain and all over Europe which transacted over €20M.
Crowdfunding target: £300,000/€335,400
millennials
Pre-money valuation*: £13,416,815/€15,000,000
*GPB/EUR FX rate is assumed to be 1.118.
everyone
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What is bnc10
The top 5 banks in Spain have consolidated more than 60 other
banks since 2008 owning 90% market share.
With few competence and huge cost structures and legacy
systems, their business model is based on comissions: 1€ out
of every 3€ of revenue (average of €100 a year per customer).
bnc10 approach:
Transparency and honesty offering a free suite of services and
pay-per-use products to recover the trust lost in financial
institutions.
Focus not only in Growth but also in Monetisation. bnc10
targets higher lifetime value customers in the 30 - 50 year age
group, preferring not to be another millennial-only Neobank.
Agility of a team that released a complete suite of financial
services in a 14 month time-to-market*.
* Fastest time to market among European Neobanks 5
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Key
features
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IBAN Account and Debit Card
Our product offering was created from day one
with the idea of fully replacing a bank account.
By offering an IBAN account, we can offer better
services: national and international transfers
(SEPA), payroll deposit, direct debit for your
receipts, and ATM withdrawals.
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Payments
By integrating Google and Apple Pay, we
allow our users to pay securely with their
mobile everywhere.
We also offer request, pay and split
payments among friends instantaneously.
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No exchange rate commission
and FREE ATM withdrawals
3 free ATM withdrawals per month anywhere
in the world
We offer our users the Mastercard exchange
rate, with no commissions or fees.
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Pay-per-use products
All our paid services will be pay per
use, allowing users to freely opt-in and
opt-out at the click of a button.
In 2020 we will offer on-demand
insurance products such as smartphone
or mobility, and investment products.
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Why
invest in
bnc10
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120,000
100,000
Consistent growth... 80,000
60,000
We want to achieve 100,000 users before
we’re two years old, but we definitely don’t
want to break the bank: our plan is to 40,000
maintain our CAC under €15.*
20,000
Sep-20
Sep-19
Nov-10
Jan-20
Mar-20
May.20
Jul-20
Nov-20
Jan-21
Mar-21
May-21
Jul-21
*Customer acquisition cost x3 times lower than competitors 12
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...sustained by
monetisation
We’re committed to start Founded: Founded: Founded: Founded:
monetising as early as July 2018 Sept 2013 July 2015 Feb 2015
possible to add value in a
sustainable way It’s not Launched: Launched: Launched: Launched:
only about acquiring users, Sept 19 Ene 2015 July 2015 Mar 2016
but monetise them!
Premium product Premium product Premium product Premium product
launch: 4Q 2020 launch: Oct 2016 launch: Mar 2017 launch: April 2019
Months After Months After Months After Months After
Launch: 15 Launch: 21 Launch: 20 Launch: 37
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Valuation/ Valuation
Date Company Valuation* Users**
Creating more value at a User multiple***
lower valuation
July €3,117 3,500 €891
2019
Considering comparable companies
with higher valuation per user.
April
€1,397 2,000 €698 28.5x
2018
Greater cost efficiency and use of
resources with a clearer path to
profitability June
€2.240 2,000 €1.120 44.4x
2019
Sept €15 45 €333
2020
*Values in € millions
**Values in thousands
***Estimate of valuation multiple when compared to first funding round with publicly available information
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Business
Model &
Financials 15
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Interchange
Every time someone pays with bnc10 card, we receive
a small fee as the issuers of the card
Business Premium Products
We’re about to launch premium pay-per-use services
Model such as insurance and savings and investment products
BaaS/Partnerships
By offering financial services through a white label
or “APIfied” solutions as a B2B2C platform as well
as B2C.
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Strategic Roadmap
18.000 Users 40.000 Users 70.000 Users
Seed Capital €2M Bridge Round €1M CrowdFunding Series A
2S 2018 1S 2019 2S 2019 1S 2020 2S 2020
2019 2020 2021
Creation & MVP Development Launch & Growth Licensing & Expansion
• Team Recruitment • Official Launch of the app and acquisition 18.000 • EMI License in Belgium
• Seed Capital Users in 2019 • Expansion to Europe & Mexico
• Strategic Partnerships with PFS & MasterCard • Product Basics: ES IBAN, Social Payments, Google & • Pay-per-Use Premium products:
• MVP Development and Beta-Testing with Apple Pay, Card Load Insurances and Investment
Friends & Family • Product differentiation: Shared Accounts, Telegram • Banking as a Service use case
Customer Support, Web App, Eco Friendly
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Next steps
• Expansion to Europe (2020 3Q) & Latin America (2021)
• Pay-per-use Save & Invest products (2020 4Q)
• EMI License in Belgium (2021)
• Banking as a Service use case (2021)
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Team
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Manel Vallet Albert Llorens Will McCahey David Montanya Tito Español Gemma Gibert + 10 Team
Exec. Chairman CEO COO CCO CTO CMO Developers, Marketing
& Operations
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Albert Llorens | www.bnc10.com | investors@bnc10.com
