Fingo: The First Pan-African Neobank for African Youth (PDF)

THE FIRST PAN-AFRICAN NEOBANK FOR AFRICAN YOUTH 50k Accounts adding 1k Accounts a day PROBLEM Young Africans today cannot access financial services 48+ hours Sending Bank apps Limited card to open an account & money are clunky...

THE FIRST PAN-AFRICAN NEOBANK FOR AFRICAN YOUTH 50k Accounts adding 1k Accounts a day PROBLEM Young Africans today cannot access financial services 48+ hours Sending Bank apps Limited card to open an account & money are clunky uptake days to send money is expensive with low uptake (1% of total volume) 5-15% transaction fees SOLUTION We built a multiproduct neobank with proprietary payment infrastructure Earn, Spend, Shop, Physical / Virtual Cards Savings Investments LIVE BETA Multi-currency wallets - Send money across the Business accounts continent. LAUNCH 2024 LAUNCH 2024  LAUNCH Fingo was launched by the President of Kenya in May 2023, as the first digital only bank in Kenya TRACTION It’s only the beginning of a hyper-growth journey 50K+ $10k+ $2.5m+ Accounts MRR Monthly GMV Adding 1k+ Accounts a day  BUSINESS MODEL We have diverse revenue streams Margin Competitors Details Transaction fees charged to businesses or consumers per Transactions 0.4% 2-5% transaction at an average rate of 0.4% Savings will be invested at 12%+ (per annum) on government Savings* 3% 1-2% bonds - Fingo takes ~25% of the interest Remittances* 2% 5-10% Fees on remittance payments Short term Fingo loans, monthly Loans* 5% 10-20% interest * Product not launched yet  MARKET We target a multi-billion dollar market in Africa Transactions only: > 1 Billion young Africans1 (Ages 18 - 30) > Spending $250 each month2 $3 TRILLION MARKET OPPORTUNITY We have a much larger market with opportunity with transactions, Transaction fees savings and loans $12 BILLION $1.2 Kenyan market with only 10% market share +10% GROWTH BILLION Financial services in Africa expected to grow at a CAGR of 10% over the next few years3 1: 70% of the 1.4b African population is under 30, 2: Fingo data, 3: McKinsey  COMPETITION Full services across multiple countries WE ARE THE ONLY PLAYER WITH Traditional banking services Digital native a diversified product suite aimed at young people across multiple countries Single product/ country focus  EDGE We will become the first neobank in 10s of markets across Africa SCALE Fingo is powered by Ecobank ($75bn in annual payments volume), making us the only Fintech with access to 36+ markets Ecobank Reach FIRST-MOVER Only Market with prominent Neo-banks ADVANTAGE First youth-focused social money app in most target markets. Most young people’s first accounts will be Fingo.  ECOBANK PARTNERSHIP We have developed a unique partnership with Ecobank REVENUE MAJOR GROWTH ACQUISITION Benefit from HACK Ecobank’s growth and Leverage Ecobank’s expansion, that will marketing investment organically boost to acquire new users Fingo’s own growth Viral Growth & Engagement Referral Program Loyalty Program CONTROLLED OFF-THE-SHELF Rewards Program COST EXPANSION Community Spaces Reduce costs by Expand in 36 new Youth Brand Partnerships hosting inside countries overnight Ecobank’s cloud without applying for licenses  FORECAST We expect to reach ~$100m+ in revenue in 2028 Consumer ARPU = $12/y Business ARPU = $40/y AUM Interest = 1% 2023 2024 2025 2026 2027 2028 Kenya 5+ countries in EA East + Central Africa Launch all markets # Consumer, k 94 1,364 3,411 8,527 17,053 34,106 # Business, k - 12 30 75 149 298 AUM, $m $6 $180 $550 $1100 $2245 $4491  TEAM The right team to execute the most ambitious vision in FinTech in Africa, surrounded by stellar advisors KIIRU MUHOYA JAMES DA COSTA ADVISORS Co-founder & CEO Co-founder & COO TOM BLOMFIELD founder/CEO @Monzo IAN NJUGUNA GITARI TIRIMA Co-founder & CTO Co-founder & Co-CPO JOYCE-ANN WAINAINA Ex-CEO @Citi Bank Africa + 15 total FTEs JAN DEEPEN Founder, BACKED BY: Sum Up FUNDING SERIES A MILESTONES IN 2024: Consumer 250K $3M Active ARR 1:12+ Consumers CAC:ARPU Business 10K Active 5:40+ Businesses CAC:ARPU Banking on Africa’s future 33+ IN 2050 THERE WILL Markets BE 1 BILLION 100M AFRICANS UNDER Consumers THE AGE OF 35… 5M Businesses $3B+ Revenue One third of them will $20B+ AUM bank with Fingo  Kiiru MUHOYA kiiru@fingo.holdings +254 702 279819 THANK YOU