การประชมว ชาการ ศาสตราจารย ส งเว ยน อ นทรว ช ย ด านตลาดการเง นไทย คร งท 24 ประจ าป 2559

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1 การประชมว ชาการ ศาสตราจารย ส งเว ยน อ นทรว ช ย ด านตลาดการเง นไทย คร งท 24 ประจ าป 2559 การบรรยายเร อง FinTech Startups and Their Business Models ผ บรรยาย คณชลเดช เขมะร ตนา ว นศกร ท 25 พฤศจ กายน 2559 เวลา 10:45-12:15 น. ห อง 201 คณะพาณ ชยศาสตร และการบ ญช มหาว ทยาล ยธรรมศาสตร ท าพระจ นทร

2 FinTech Start-ups and Business Models FINTECH (THAILAND) COMPANY LIMITED Disclaimer : The information contained on this document belongs to FINTECH (THAILAND) COMPANY LIMITED ( Company ) The Information presented on this document is carefully obtained from believed to reliable. However, the Company does not warrant or verify the accuracy or reliability of the information contained herein. The Company reserves all intellectual property rights to its information and content. No part of the information on available on this document may be copied, reproduced, distributed, published or posted by any form or by any means without the prior written permission of the Company. Who are we? Fintech (Thailand) Company Limited We are a group of financial professionals who are passionate in Disrupting Inefficiency Core Purpose = Disrupting Inefficiency Core Values = Passion x Professional x Agility Mr. Chonladet CEO and Co-founder CEO - Fintech (Thailand) Board of Director and Head of Retail Investment Group - Thai FinTech Association o Executives in business strategy, investment advisory and online brokerage o Adjunct lecturer, guest speaker, commentator and judge in academics o Most popular analyst in 2015 voted by Money Channel s audiences

3 Disrupting Inefficiency What is FinTech? Financial + Technology Definition by Wharton FinTech Club FinTech = an economic industry composed of companies that use technology to make financial systems more efficient What is not FinTech? FinTech Start-up Media pays more attention to start-up. But incumbent can also use FinTech. FinTech Disruptive Many start-ups are disruptive. But FinTech can support current biz.

4 FinTech Start-up Start-up SME Incumbent Finance Technology World s Very First FinTech 1851 Submarine Telegraph Paul Julius Reuter negotiated with the London Stock Exchange to provide stock prices from exchanges in continental Europe in return for access to the London prices, which he then supplied to stockbrokers in Paris. Source: Wikipedia

5 TOP30 VC-backed Fintech Deals of 2016 Source: The Pulse of Fintech Q2 2016, KPMG International and CB Insights World Economic Forum s Functions of Financial Services

6 FinTech Business Models Investment Management Capital Raising Typical stock brokers charge commission fees while Robinhood offers it for free $0 commission for trading U.S. stocks and ETFs Total Funding: $66M 50 Trading app on iphone + Apple Watch and Android The 1 st finance app received an Apple Design Award in Seed VC: 2013 Series A: 2014 Series B: 2015 Revenue Model: Collect interests on uninvested cash in client accounts, charge interest on margin trading, premium service Robinhood Gold

7 Comparison of online brokerages in the United States (Wikipedia) 25 60, , , ,000 20,000 10, Robinhood Markets TradeKing SogoTrade Capital One Investing Firstrade Merrill Edge OptionsXpress USAA TD Ameritrade thinkorswim E-Trade Charles Schwab WellsTrade Scottrade Fidelity Commission per Trade (LHS) Vanguard TradeStation Lightspeed Zions Direct Minimum Fund (RHS)

8 etoro is a market place to trade, copy trade or become a Popular Investor CFD trading on currencies, indices, commodities, stocks and ETFs Total Funding: $72.7M Social trading via CopyTrader and Popular Investor Program Thematic trading via CopyFunds Series A (2007) Series B (2009) Series C (2010) Series C - II (2011) Series C - III (2012) Series D (2014) Line of Credit (2014) Series D - II (2015) Revenue Model: Collect trading fees from buy/sell spreads, charge overnight fees from leveraged positions or short-selling positions Popular Investor Program The program is built from 4 levels, starting from Cadet until you reach the top and join the Elite. Each level has it's own benefits and requirements.

9 CopyTrader: Copy People s Portfolio Copy All Trades Automatically vss Copy Selected Trade Manually

10 Trader CopyFunds vs. Market CopyFunds What is a Robo-advisor? Robo-advisor is an automated investment advisory services helping people to achieve major financial goals. It is a disruption to traditional investment advisor since it has o Lower rate of advisory fees o More convenient channels o Smaller minimum fund requirement o Unbiased investment recommendation

11 Robo-advisors in USA Incumbents are also expanding into robo-advisor area 1) Charles Schwab s Intelligent Portfolio 2) Vanguard s Personal Advisor Betterment is the largest robo-advisor start-up who offer goal-based investment Modern portfolio theory to invest in ETFs with auto-rebalancing Total Funding: $205M 100 SmartDeposit to auto- deposit surplus amount of bank balance RetireGuide Calculator to help plan on retirement 3 Series A: Series B: 2012 Series C: 2014 Series D: 2015 Series E: 2016 Revenue Model: Collect advisory fees on AuM (regressive multi-tier rate from 0.35% to 0.15%)

12 Betterment customers can expect 4.30% higher returns than a typical DIY investor.

13 Acorns mobile application collect spare change and invest automatically in ETFs Microsaving & Microinvesting services for millennials Total Funding: $70.14M Free for individuals under 24 years of age and attending college Found Money partner brands to invest in shopper s Acorns account 1.14 Series A: 2013 Series B: 2014 Series B-II: 2014 Series C: 2015 Series D: 2016 Revenue Model: Collect $1/month for accounts under $5,000; 0.25%/year for accounts over $5,000

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15 Microsavings & Micro Investing Services for Millennials Major Types of Crowdfunding Donation Crowdfunding Rewards Crowdfunding Equity Crowdfunding Debt Crowdfunding

16 Kickstarter is a reward crowdfunding platform of creative projects All-or-nothing funding to back 115,689 successful projects (~50%) Total Funding: $10M 10 Creator Handbook to guide towards a more successful project Kickstarter Live to connect creators and backers through live video Series A: 2010 Revenue Model: Collect 5% fee from a project s funding if successfully funded, zero fees if a project is not successfully funded

17 Crowdcube is the world s first and leading investment crowdfunding platform. Available investment in either equity or mini-bonds Total Funding: $31.13M High funding success rate of 60% with 300,000 registered investors Complete year 2015 review via Angel: 2011 Series A: 2013 Series B: 2014 Series B- II: 2014 Series C: 2015 Series D: 2016 Revenue Model: Charge success fee 7% of total funds processed OurCrowd is equity crowdfunding + VC platform for accredited investor Extensive due diligence process Total Funding: $112.5M 72 Portfolio Reserve to invest as a package of deals automatically 25 Global Investor Summit as the biggest event with 5,000+ attendees 5.5 Series A: 2013 Series B: Series B-II: 2016 Series C: 2016 Revenue Model: Collect fixed % of admin + management fees from funding and charge 20% - 25% from profit upon exit

18 Thank you Contact us 6th Floor, Zuellig House Building, 1-7 Silom Road, Silom, Bangrak, Bangkok 10500, Thailand