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biid - NOAH17 London

Startup Stage - Fintech, Payment, Anti-Fraud & InsurTech - Presentation by Antonio Virzi, CEO of biid at the NOAH Conference London 2017, Old Billingsgate on the 2nd of November 2017.

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biid - NOAH17 London

  1. 1. Securing digital transactions, ensuring legal validity Noah Conference — London, November 2017
  2. 2. Three Conferences, One Mission: Empower the European Digital Ecosystem To provide a physical marketplace that facilitates funding of digital European companies at all stages Mission Mission Mission Connecting Capital with Entrepreneurs Connecting European Champions and Challengers Connecting Israel’s Startups with Large Corporates and Investors 30-31 October 2018 Old Billingsgate, London 6-7 June 2018 Tempodrom, Berlin 13-14 March 2018 Haoman 17, Tel Aviv To promote Israel - European relationships and enable funding To bring together future-shaping executives and investors active across segments driven by digital revolution
  3. 3. 2 Cyber crime is the greatest threat to every profession, every industry, every company in the world. “ ” Ginni Rometty, CEO, IBM
  4. 4. 70% Of organizations that suffered a security breach in last year Cyber crime by the numbers 3 91 Of data breaches begin with a phishing attack $6 trillion Estimated global cost of cyber crime by 2021 64% Of data breaches were identity related in 2016 $18 million Average cost of an APT breach
  5. 5. The “Tesco Bank” hacking — November 2016 4
  6. 6. The “Tesco Bank” hacking — November 2016 5 9000 accounts were hacked £2,500,000 was stolen
  7. 7. The “Tesco Bank” hacking — November 2016 6
  8. 8. 7 biid’s technology protects Governments and Financial Institutions against these types of large scale attacks. “ ”
  9. 9. API & Security Gateway API & Security Gateway API & Security Gateway API & Security Gateway API & Security Gateway API & Security Gateway API & Security Gateway A problem common to 90% of Financial Institutions 8 Core Banking SystemsCore Banking Systems API & Security Gateway 40+ Years Old
  10. 10. A problem common to 90% of Financial Institutions 9 Core Banking SystemsCore Banking Systems 40+ Years Old
  11. 11. A problem common to 90% of Financial Institutions 10 Core Banking SystemsCore Banking Systems 40+ Years Old
  12. 12. A problem common to 90% of Financial Institutions 11 Core Banking SystemsCore Banking Systems 40+ Years Old
  13. 13. 12 Strong authentication is extremely important… but it is not enough!
  14. 14. Securing transactions themselves, not just the doors 13 biid SDK Certification Authorities Digital Certificate CA Private Keys 1 2 Certification Authority 1 Certification Authority 2 Certification Authority 3
  15. 15. De-centralizing security to prevent large scale attacks 14 CERTIFIED Mobile Devices Digitally signed transaction Core Banking Systems Gateways £500 VALIDFRAUDULENT Cryptographic verification of the transaction
  16. 16. The company We are a B2B technology company with our headquarter in Barcelona and international offices in London and Minsk 15
  17. 17. “biid is a trusted partner and plays a critical role in our digital innovation strategy, helping us to create a truly Smart City, easily accessible for all our citizens” – Paco Rodriguez Jimenez, CIO, Barcelona 16
  18. 18. “Andbank is revolutionizing Private Banking using biid’s technology to empower our customers and strengthen our global business” – Pedro Cardona-Vilaplana, Global CIO, Andbank 17
  19. 19. Military-grade security 18 Secure Devices Quantum technology and the biid Platform Critical Infrastructures IOT Systems Communication s Our platform is currently being evaluated by the UK Ministry of Defence (MoD) for a Proof of Concept that aims at exploring the next generation of digital security standards using Quantum
  20. 20. Funding requirements 19
  21. 21. 20 5 % 15 % 45 % 35 % Product development Sales and marketing International operations R&D Funds allocation We are now raising our Series A round €4M ~ €5.0M Capital requirements and funds allocation
  22. 22. Antonio Virzì | CEO | +44 7873 599 123
 Thank you
  23. 23. 22 Annexes
  24. 24. Annex 1: our senior management team 23 Dave Darsch, Executive Chairman Senior executive, chairman and angel investor with an extensive global network. Dave is the founder of the CEO Collaborative Forum, an exclusive consortium of 400+ high-performing CEOs from high-growth US and pan-European companies. Antonio Virzì, CEO International CEO with extensive experience in mobile, retail and digital media. Prior to joining biid in early 2016, Antonio founded NearMe, a London-based Startup that provided mobile loyalty services to thousands of small businesses and 30+ leading brands in Europe. Michael Astreiko, Head of Platform For the last 10+ years Michael has been a lead architect for both startups and large corporations. In May 2016 he joined biid to lead the design and development efforts of the new generation of the company’s digital identity and mobile security platform. Xavi Vilchez, Customer Support Director Xavi has been with biid since its inception in late 2014. First working as a Senior Platform Developer and later leading our major customer deployments, he has been instrumental in taking the product and the company to where they are today. Dan Woodel, Head of Security Professional architect and mobile development lead, Dan was a teenage specialist in writing exploits to circumvent security in complex enterprise solutions. Prior to joining biid, Dan worked on projects at Visa, RBS, Clydesdale, Co-Operative Bank, NatWest, Yorkshire and Rabobank. Jordi Masias, Member of the Board CEO of Firmaprofesional (FP), the leading private Trust Service Provider (TSP/CA) in Spain. Jordi is considered to be one of the top European experts in digital identity and digital signature, helping public administrations in their digital transformation endeavours.
  25. 25. 24 Annex 2: the competition
  26. 26. The competition 25
  27. 27. Competitive advantage 26 Our competitive advantage is made up of the following 4 USPs: USP 1: biid is a digital security platform, not only an authentication solution USP 2: Our product delivers top level / military-grade security and great user experience USP 3: Our product was built for banks by banking technology and cyber security experts USP 4: Our product is ready for the future of digital identity, providing trust to the Blockchain Quantum technology and the biid Platform Mobile and IoT secure devices Trust Service Providers Blockchain and Smart- Contract infrastructures
  28. 28. 27 Annex 3: market strategy & business model
  29. 29. 28 Our go-to-market strategy B2B direct sales Focus on refining our positioning, sales process and operations in different markets, building a few success cases with international banks and local governments. This will create the conditions for later engaging channels partners that can help up scaling more efficiently and much faster. Phase 1 Phase 1 + 18 to 24 months Channel Partner sales We believe our product can be a valuable addition to the portfolio of larger Security and Financial Services solution providers. We are registering interest from many potential partners, both in Europe and the US, and we will continue to support our channel efforts in the coming months. Phase 2 Cloud SaaS sales We will introduce a cloud-based offering for smaller banks, city councils and corporations that cannot invest in dedicated in- house infrastructures. This will enable us to extend our market reach and create a new revenue stream, from different verticals and market segments. Phase 3 Phase 1 + 12 to 18 months Startup phase Growth phase
  30. 30. Our business model: startup phase [ Phase 1: 2016 ~ 2018 ] 29 1. Currently we are mostly concentrating on direct sales, using our internal team to test and refine our basic assumptions on positioning, messaging, pricing, target organisations, etc. 2. Winning some strategic customers will be key to attract partners and negotiate with them from a position of strength, having already proven the value of our solution in the market. 3. Today we partner with Firmaprofesional, selling to smart cities and public administrations both in Spain and internationally. 4. We are already engaging other potential partners that could help us scale internationally, but we don’t expect these relationships to start generating revenue before the end to 2018.
  31. 31. Our business model: growth phase [ Phase 2 and 3: 2019 onward ] 30 1. We expect that real scalability will only happen through successful partner relationships, although we will continue to also expand our international direct sales efforts. 2. We are, and will continue to test/pursue 2 different types of partner strategies: a. Product / technology integration strategy: we believe the best partner for biid will be technology companies that need our product to complement their own solutions (e.g. ForgeRock, Crypta Labs, Strands, OT Morpho, etc.). b. Sales / consultancy / professional services strategy: we are also engaging specialised consultancies and system integrators that are already providing services to our target customers and markets (e.g. Deloitte, Everis, EY, PwC, etc.).
  32. 32. Selected Completed NOAH Transactions Focus on Leading European Internet companies Covering over 400 companies across 25 online verticals, a broad range of over 500 investors as well as 100+ online-focused corporates Deep understanding of industry dynamics Ability to add value beyond banking advice Facilitates overall process and minimizes management distraction NOAH Advisors is globally well connected and has direct access to virtually all key players in the industry Knowledge of and strong relationships with potential buyers’ key decision makers Proactively finds and unlocks attractive investment opportunities for leading investors Annual NOAH Conference in its 8th year Over 40 years of combined relevant M&A experience Routine execution of M&A and financing transactions with sizes of several billion euros 30 successfully completed NOAH Advisors transactions underline successful transfer of M&A competencies to the Internet sector Entrepreneurial mind-set, focused on growing the business and establishing a reputation for excellence Ability to deliver top results in short time frames Highly success-based compensation structures align interests of clients and NOAH Advisors, and demonstrate conviction to deliver top results Creative deal solutions December 2014 September 2014 October 2014 May 2014 Sale of 100% of for $800m to Exclusive Financial Advisor to Fotolia and the Selling Shareholders Sale of 100% of for €80m to Exclusive Financial Advisor to Trovit and its Shareholders Sale of controlling stake in to Exclusive Financial Advisor to and its Shareholders sold 100% of for $228m to a joint venture between Exclusive Financial Advisor to Yad2 and its Shareholders Unique Industry Know-How Unmatched Network and Relationships Strong Investment Banking Competence Full Commitment - We Are Entrepreneurs! EUROPE’S LEADING INTERNET CORPORATE FINANCE BOUTIQUE September 2016October 2016 December 2016 Financial Advisor to Oakley Capital ® Marco Rodzynek Managing Director & Founder Jan Brandes Managing Director Justus Lumpe Managing Director The NOAH Advisors Core Banking Team Nikhil Parmar Director Acquisition of a Majority Stake in by from at a valuation of €300m Investment in Exclusive Financial Advisor to KäuferPortal and its Shareholders by 84% Ownership Financial Advisor to Silver Lake Investment in by August 2017 Financial Advisor to EMK Capital Acquisition of a Majority Stake in by at a valuation of $200m