AMIE - ADVANCED MASTER IN INNOVATION & ENTREPRENEURSHIP Politecnico di Milano 22 dicembre 2016

1. WHAT MATTERS IN FINTECH
AMIE - ADVANCED MASTER IN INNOVATION &
ENTREPRENEURSHIP | NEW VENTURE LAB

2. Region Segment Total Market FinTech Addressable
Potential
Examples
Global Payments & Remittance $1.1 trillion (revenue) $110 billion (revenue) • Stripe has processed an
estimated $20 billion in
payments volume in 2015.
• Adyen & Braintree both
processed $50 billion each,
(payments volume in 2015).
• TransferWise: An estimated
$6.6 billion transferred in 2015.
United States
Consumer Payments
Consumer Remittance
$91.5 billion (revenue)
$3.8 billion (revenue)
$15.5 billion (revenue)
$950 million (revenue)
Global Global Asset/Wealth/
Investment
Management
$76 trillion (AUM) $2.5 trillion (AUM)
• Betterment $3.9 billion AUM
• Wealthfront $3 billion AUMUnited States $30.1 trillion (AUM) $1 trillion (AUM)
Global Lending
$4.7 trillion
(loan origination)
$1.6 trillion
(loan origination)
• Lending Club $15.9 billion
• OnDeck $1.9 billion
What matters in fintech Key Opportunities for Startups

3. 3
What matters in fintech 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

4. 4
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
What matters in fintech Company Overview

5. 5
What matters in fintech The Fintech Tools
The fintech tools
• Technology
• Finance
• Regulation

6. Payment
Institution
SELLER INVESTOR
Calculation
agent
Legal
agreement
Transactions
Registration
Register Sellers
Manage listing
and bidding
process
Accredited
investors
CREDIT RATING
AGENCY
Realtime rating
SERVICER
Collection
ManagementRecovery
DEBTOR
Banca d’Italia regulated
Payment
What matters in fintech Process
Disruption is in the
process
6

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.
What matters in fintech Look for Patterns
7

8. What matters in fintech
The Observatory for Supply Chain
Finance | Politecnico Milano
In Italy we generate €570bn+ of
commercial receivables
73% of those are sitting on the
balance sheet of Italian corporates.
Banks and factoring companies are
not addressing these assets.
Invoice trading platforms help
you free up cash flow quickly by
unlocking funds from your
unpaid invoices.
Raise funds in 24 hours by selling your unpaid invoices online.
Overcome Cash Flow Gaps. Get Paid Instantly.
30, 60 o 90 días? NoviCap ofrece una forma fácil de solucionar
las tensiones de caja a través del anticipo de facturas y pagarés.
Cédez vos factures, en toute simplicité.
Monetizza le tue fatture rapidamente. Non è mai stato così
semplice.
Fyll på företagskontot inom 24 timmar
Suurem käive = kiirem kasv
8
Look for Patterns

9. Online Platform
Risk Unit
Operations
Servicer
Recovery
Collection Management
ESMA-Approved Credit Rating Agency
Real Time Rating
Payment Institution
Insurance Company
Protection of Investment Portfolio
- Greater flexibility in a volatile
regulatory environment
- Aim to work with the best-in-class
- No conflict of interest
Workinvoice has from the outset outsourced certain core functions to increase flexibility and
efficiency
9
What matters in fintech Look for Patterns

10. Financial education and appropriate comunication look underestimated
Making finance entertaining and gaming are overestimated,
Psychology and emotions linked to money are underestimated.
Overestimated: Lending, esoteric underwriting methods, investment advisory, active trading
Underestimated: saving, privacy, identity, show less
People as a general rule tend to overestimate what they don't understand and underestimate what
they believe to understand.
Overestimated: conceptual solutions
Underestimated: hard performance indicators, and hardwork in general
Also grossly underestimated in Fintech: the product and how compelling
What matters in fintech Food for Thoughts
10

11. Vast market
Huge need
Old business, new process
Best business model for Italy
Technology as enabler
11