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Xavier Corman: Funding - Spinning the wheel of fortune - TSD17

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Page 1: Xavier Corman: Funding - Spinning the wheel of fortune - TSD17

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Page 2: Xavier Corman: Funding - Spinning the wheel of fortune - TSD17

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Summer 2012

Page 3: Xavier Corman: Funding - Spinning the wheel of fortune - TSD17

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57% of European companies have cash flow problems.(1)

4 entrepreneurs out of 10 are refused credit, either completely or partially. (2)

Interest rates for savings accounts (3):

ING: 0.11%KBC: 0.11%

Belfius: 0.11%

(1) European Payment Index 2013(2) Unions et Actions no. 130 – January 2016(3) Belgian rates www.guide-epargne.be

Business that want to boost their cash flow

Businesses with free cash flow

3

Problems and Solution

Page 4: Xavier Corman: Funding - Spinning the wheel of fortune - TSD17

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1. Create an A-Team

2. Challenge the idea and define the business model

3. Find a name

4

First actions

Page 5: Xavier Corman: Funding - Spinning the wheel of fortune - TSD17

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• Financial commitment of founders

• Time commitment of founders

• MVP in progress

• Hunting €€€€

January 2013 : Incorporation

Page 6: Xavier Corman: Funding - Spinning the wheel of fortune - TSD17

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Incorporation : The Bad and the Good

No urgent need of cash (lean and bootstrapping)

Free advices from potential investors

Securing some legal aspects very early

Some personal knowledge in Corporate Finance

Looking for investorson a too early stage

Some personal knowledge in Corporate Finance

Page 7: Xavier Corman: Funding - Spinning the wheel of fortune - TSD17

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Preparing Seed Round

Working on MVP

Getting from regulators

STARTING BUSINESS

1 partner full-time

January 2013 : MVP7

Page 8: Xavier Corman: Funding - Spinning the wheel of fortune - TSD17

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MVP stage : The Bad and the Good

Asking help from a professional of Corporate

Finance

Focusing on clients

A-Team

If money and signature are not done, nothing is done

Loosing time with the wrong investor

Page 9: Xavier Corman: Funding - Spinning the wheel of fortune - TSD17

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Preparing Serie A

Getting first real customers

Getting new license from regulators

All partners full time and hiring employees

1 M€ Seed

2014 – Mid 2015 : Startup phase9

Innoviris – subsidies 240 K

Page 10: Xavier Corman: Funding - Spinning the wheel of fortune - TSD17

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MVP stage : The Bad and the Good

Securing Round A quickly

Getting a real traction

A-Team

Estimate of the required capital

Valuation of the company

Page 11: Xavier Corman: Funding - Spinning the wheel of fortune - TSD17

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Reaching break-even point

Proving Scalability

Getting licenses from regulators

From 10 to 35 persons

3 M€ Serie A

Mid 2015 – Dec 2016 : from startup to scale-up11

65 M€ of Financed amount

Page 12: Xavier Corman: Funding - Spinning the wheel of fortune - TSD17

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Strong Expansion

Break-even and make profit

OR

Next step12

Page 13: Xavier Corman: Funding - Spinning the wheel of fortune - TSD17

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CAC, Revenues, Scalability IP Must be the best horse Convince of high value creation

Scale Up13

Page 14: Xavier Corman: Funding - Spinning the wheel of fortune - TSD17

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QUESTIONS ?