Making banking accessible for Pakistan

1.

Making banking accessible for Pakistan

2.

MARKET OPPORTUNITY
Large addressable market size
250m
population
5th most populous country in
the world
80%
of the population is unbanked
78%
Mobile internet connected
(173m connections)
9.4m
Mobile phone banking users
$50bn+
in remittences from abroad
192%
YoY growth in mobile
transaction volume
309.5m
number of financial
transactions (mobile, internet
and e-commerce) in Q1 2021

3.

PROBLEMS
Pakistan’s banking experience is still stuck in the past
Traditional banks have not
moved to the digital age
Credit facility not available
to average person
(Only 1.4 million credit cards issued)
Poor customer service with
average wait times of c. 15 minutes
at both physical branches and phone
helplines
Everyday banking is inconvenient with heavy
involvement of traditional paperwork and mediums
such as cheques
Lack of uncomplicated
medium for international
payments and transfers
Employers still disburse salaries to
employees through cash payments
Banks charge high fees
($20-$120 per annum) to retail banking
customers

4.

PRODUCT
Established product stack with immense market adoption potential
Mobile Centric
Digital Onboarding
within 3 mins
VISA card with global spend
Instant P2P and
bank transfer payments
Free / Low Fees
Instant P2P payments
via QR code
Transparent
Chat Support

5.

COMPETITION
Clear Value Proposition
TRADITIONAL BANKS AND TELCOS
Technology
Legacy systems and cost structure
State of art purpose-built tech platform
Mobile Application
Substandard app or no app at all
Robust App and Simple UI
Basic Account
$25 per annum or a signup fees of $5
Free
Currency Conversion Rate
4% plus hidden costs
1.5% flat (mid-market rates)
Instant Interbank Transfers
No
Yes
Signup Time
1-2 hours
3 minutes
Online Payments
Only for premium customers
Yes for every user
SBP Approved Fintechs
App is yet to be
launched; is still
in Pilot phase
App is yet to be
launched; is still
in Pilot phase
Is still in Pilot
phase
Early mover advantage will enable us to establish a loyal customer base e.g.
Chime in USA, Paytm in India and N26 in Germany
Design focused product with Intuitive UI and ability to seamless introduce new
features
EMI Licensing is a lengthy process with a lot of red tape and high startup capital
costs
Capitalize on network effects to scale and capture other adjacent segments e.g.
merchant and online payments
Digital Banking is not an incumbent market as we have seen even big EU banks try and
fail at it e.g. Bo by RBS

6.

REVENUE DRIVERS
Transaction led revenue
Who is
paying us?
For what?
EMPLOYER
S
Payroll Solution
Fees
USER
S
Bank Transfer
Fees
MERCHANT
S
Cashback
Promotions
CARD
ISSUER
Card usage
Interchange fee
PARTNER
BANKS
Interest on User Deposits
0.5%
Forex markup
Interest on Payroll Custody
Deposits
1.5%
Commissions / Fees
Interest Income
c. 7.5%

7.

TEAM
Led by visionary and quality management
TALAL
GONDAL
AHSAN
K KHAN
ALEX
LUKIANCHUK
ABHISHEK
GUPTA
CEO
COO
CTO
VP Product & Strategy
10 guys, 3 rows. First row (subtitle - founding team) of 4 already put in slide. Seen inspiration slide below (ignore CEO at the top in s
Rest of rows with following people to add:
https://www.linkedin.com/in/s-m-talib-rizvi-54615a11/?originalSubdomain=pk - Executive Chairman
https://www.linkedin.com/in/maleeha-mimi-bangash-7602b039/?originalSubdomain=pk - Director Business Development
https://www.linkedin.com/in/moiz-sachedina-03240320/ - Head of Operations
https://www.linkedin.com/in/chernykh/ - Head of Platform
https://www.linkedin.com/in/epestov/ - Head of Infrastructure
https://www.linkedin.com/in/kpavlov/ - Head of Backend
MIKHAIL
CHERNYKH
Successfully
managed

8.

TRACTION & PLANS
Low CAC Market Access
Cross-sell products with
platform approach
TAG
Payroll
Through the payroll product, TAG is
Graduate into Digital Banking License
to cover end to end value chain
Roll out new products
digitising salary payments which would
otherwise be paid in cash
Users are mass onboarded by TAG
once an agreement has been signed,
helping us achieve near zero CAC
Increase top of funnel
conversions for organic
and paid acquisition
channels
Current signed agreements include:
o Frontier Works Organisation
(government - public services)
o IDWare (startup)
o Fatima Group (conglomerate)
Signed employee
payroll partnerships
500,000 Users
from 24 Employers
Now
$2.5m pre-seed equity
raised, acquired EMI
license
Continue to penetrate
enormous addressable
market and onboard users in
masses

9.

“– IT TAKES MONEY TO CHANGE MONEY”
USE OF FUNDS
ASK
PREVIOUS INVESTORS
o We aim to raise $3 million for
rapid development and
launch of the beta app under
the supervision of the State
Bank of Pakistan
PIe Chart here
o Deposit of $2 million
already arranged (minimum
startup capital/ ongoing
balance requirement) at the
State Bank of Pakistan i.e.
pre-condition to launch pilot
Personal Angel Cheques from :Anish Acharya : Partner at A16z Fintech
Deepak Kamra : Partner at Canaan Ventures
Evan Moore : Partner at Khosla Ventures
Abraham Zilkha : Partner at Ares Private Equity