This document summarizes Aung Kyaw Moe's presentation on raising external funding. The presentation covers: 1. Moe's background and companies in the FinTech industry over 15 years. 2. Early funding from friends, family, and "fools" through informal agreements, then working with angel investors who provided expertise and connections in exchange for equity. 3. Understanding venture capital through incubator programs that teach pitching skills and financial modeling to attract investment from VCs at different company stages. 4. Later funding from strategic investors can lead to mergers, acquisitions or management buyouts as companies grow. The presentation provides advice on pitching to different investor types and managing the challenges of

1. 15 July 2015, Bangkok, Thailand
Raising External Funding

2. Aung Kyaw Moe
1
• Grow up in Myanmar, live in Bangkok, travel across SEA
• Left Myanmar in 1998, arrived Thailand in 1999 for new
opportunities
• Involved in FinTech Industry for over 15 years
• Founded several FinTech companies
• EMBA (06’) — Sasin, Thailand
• ACE — Massachusetts Institute of Technology, USA

3. Agenda
2
1. Brief Profile & Motivation
2. Early Years (3Fs)
3. Working with Angels
4. Understanding VC (Incubation & pitches)
5. Swimming with the sharks (Strategic Investors)
6. Recommendations

4. Brief Profile & Motivation
3

5. Company Background — At a Glance
4
+2.2b
USD
85%
2014 THAILAND Acceptance
ALL

6. Locations
5
10 Countries

7. Company Background —
Investors
6
• Grants Received
• Investments Received
+10m USD

8. Trusted Regional Partner — Banks
7
+20 Banks

9. Trusted Regional Partner — Major Clients
8
+15 Airlines

10. Team — 2014
9

11. Motivation
10

12. My Only Motivation
11
Born: 18 April 2003
First Company: 23 April 2003

13. Early Years (3Fs)
12

14. Early Years (3Fs)
13
Friends, Family, Fools

15. 14
Year 2003/2546
Early Years (3Fs) — Family

16. 15
Early Years (3Fs) — Family

17. 16
Early Years (3Fs) — Family

18. Early Years (3Fs) — Family
17
1. Describe and Communicate Your Passion
2. Communicate the Plan and Risk up front
Advantages
• They have no choice
• They will always support your idea
Disadvantages
• Your idea may not be good
• You are risking everything

19. 18
Early Years (3Fs) — Family

20. 19
Team — 2009

21. 20
Early Years (3Fs) — Friends &
Fools
1. Offer official agreement together with handshake
2. Focus on well-connected friends with relevant business experience
3. Don’t ask for more than they can afford
Advantages
• Fast Funding Process
• They will support your idea if things are good
Disadvantages
• They may walk away and ask their money back when things are not great
• Friendship is at risk

22. 21
Doing Well = Equity/Shares
Not Doing Well = Loan
Special Supervisor
Early Years (3Fs) — Friends & Fools

23. Working with Angels
22

24. Working with Angels
23
1. Business knowledge, business connections
and entrepreneur
2. Specialized in specific industry
Advantages
• Knows the process
• Relatively fast funding
Disadvantages
• Wants too much equity
• Control

25. 24
Working with Angels
2004-2008 2008-Today
1. Help with BOT eMoney License process
2. Recruiting
3. Mentorship and other supports
4. Acquisition

26. Understanding VC (Incubation and Pitches)
25

27. Understanding VC — Incubation
26
1. Understand financial models and projection
2. Presentation skills (Pitching skills)
3. Familiarize with VC acronyms
4. Opportunities to practice investor pitches
5. Positive criticism and continuous
improvements
6. Understanding of term sheets

28. 27
Understanding VC — Pitches
1. Practice makes perfect
2. Repetition, Repetition, Repetition, Repetition, Repetition
3. Good pitch may not receive investment — but, it usually gets second
meeting
4. Pitching different type of investors makes you sharp and allows you to
identify your weaknesses

29. 28
Understanding VC — Pitches

30. 29
Understanding VC — Type of VC
1. Seed Capital — idea
2. Startup Capital — prototype or product; no customer;
3. Early Stage Capital — team; few customers; try to break even;
4. Expansion Capital — well established; expand new product, market;
5. Late Stage Capital — depends; IPOs; Acquisition; etc.

31. 30
Never worked at a startup before

32. 31
My way or no $$$

33. 32
NATO = No Action, Talk Only

34. 33
Everything is great; Money is coming;

35. Swimming with the sharks
Strategic Investors
34

36. 35
Merger and Acquisitions
1. Eat or be eaten;
2. Strategic investors may become
potential acquirer;
3. Management buyout options;
4. Information rights;
5. Additional investment obligations;
6. Commercial obligations;

37. Recommendations
36

38. 37
Understanding VC — Time/Complexity/Amount

39. 38
Understanding VC — Norms

40. Top 20 Reasons
39

41. Startup CEO???
40
Failure (85%)
Nobody
likes you Always
worried
Constant
betrayal
Always
behind
Sell, Sell, Sell

42. Q&A