EF: Management Engineering - ENTREPRENEURIAL FINANCE COURSE Politecnico di Milano 24 gennaio 2017

1. FUNDRAISING | TRICKS AND TACTICS
SCHOOL OF INDUSTRIAL AND INFORMATION ENGINEERING
ENTREPRENEURIAL FINANCE
JAN 24, 2017

2. 2
The story so far Company Overview
Workinvoice at a glance
• Introduced invoice trading
business model to Italy
• In less than two years
reached over 6,000,000
euros per month of
invoices funded
• Backed by well-known
and respected banking
and finance managers
• Flexible architecture (in-
house and outsourcing)
can adapt to volatile
regulation

3. 3
The story so far Company Overview
December
2013
Founded
First invoice
funded
December
2014
April 2015
Raised €500k
100 invoices
funded
December
2015
April 2016
Raised €900k
€30mn of
invoices
funded
November
2016
1st Italian
Marketplace
Securitisation
executed
January 2017

4. 4
The story so far Company Overview
CO-FOUNDERS,
65,51%
ANGELS (BANKING
AND FINANCE),
19,70%
ANGELS
(ENTREPRENEURS)
, 11,26%
WORK FOR
EQUITY, 3,53%
SHAREHOLDER STRUCTURE RELEVANT ANGELS
Roberto Nicastro
Businessman and banker, is the President of the
Good Banks and former General Manager of the
Unicredit Group.
Maurizio Cereda
Former General Manager of Mediobanca; held
several senior advisory positions in Italian
corporates.
Roberto Marsella
Manager of the Fondo Strategico Italiano, a
sovereign wealth fund.
Mario Spongano
Has served as CFO at Mittel SpA. From 1991 till
2001 he was Head of Government Bond trading at
JP Morgan for the EMEA region.
Hendrik Van Riel
He was Head of JP Morgan Investment
Management EMEA.
Workinvoice has attracted a group of business angels with relevant experience in the financial
services and corporate sectors

5. The sum of the interior angles of a triangle is 180°
How much money you need to grow
to a point where you will show
significant growth and raise the next
round of investment.
• €200,000
How much of the company to give to
the investor
• 5-20%
The pre-money valuation is set
The Triangle Valuation Tricks and Tactics

6. 6
What seed investors buy
• Idea
• Team
• Slides
Seed Investor Tricks and Tactics

7. Uber's Strategy | Break the Law, Pay the Price,
Disrupt an Industry
• In the US, we waste 7 billion hours a year
sitting in traffic
• 160 billion dollars in lost productivity, also
sitting in traffic
• one-fifth of all of our carbon footprint is
spewed out in the air by those cars that
we're sitting in
Master Plan, Part Deux | Elon Musk
• Autonomy: Develop a self-driving
capability that is 10X safer than manual
via massive fleet learning.
• Sharing: Enable your car to make money
for you when you aren't using it.
7
Look for patterns Tricks and Tactics

8. • First, fix your timeline
• Target the right investors
• Generate scarcity
• Make it a race.
8
Project Next Tricks and Tactics

9. 9
Workinvoice
Via Petrella 22
20124 Milano
matteo@workinvoice.it