Many of the pitch decks we cowl within the Pitch Deck Teardown collection are for comparatively younger corporations, however to have a good time our fiftieth pitch deck teardown, I figured I’d do one thing barely totally different.
In the present day, we’re taking a look at Ageras‘ pitch deck, which it used to boost a $35 million non-public fairness spherical to additional broaden its comparatively late-stage product portfolio. Provided that I’m sitting in Copenhagen, Denmark as I write this, it appeared proper to cowl an organization that was based right here.
The corporate raised $73 million from New York-based funding fund Lugard Street Capital in early 2021, and closed this $35 million spherical a couple of yr later.
So, what does it do? Within the phrases of its founder:
What began as a web based market for small enterprise house owners to seek out accountants in Denmark has now expanded right into a monetary cockpit utilized by greater than 1 million SMEs throughout Europe and the U.S., giving them a single, centralized vacation spot for practically all their wants—bookkeeping, accounting, payroll providers, invoicing and now monetary providers.
I’ll be the primary to confess that very late-stage decks aren’t my forte, and I do know loads much less about non-public fairness than enterprise capital. However let’s have a look and see what we will be taught!
We’re in search of extra distinctive pitch decks to tear down, so if you wish to submit your personal, right here’s how you are able to do that.
Slides on this deck
With 31 slides, the Ageras deck is a little bit of a beast. A few of it’s redacted to maintain the agency’s secrets and techniques, er, secret. The general construction is there, nonetheless, and we will observe some fascinating factors on weaving a narrative of a 300+ particular person firm with a worldwide footprint.
- Cowl slide
- Slogan slide
- Overview slide
- Merchandise overview slide half 1
- Merchandise overview slide half 2
- Traction slide
- Buyer development slide
- Merchandise interstitial slide
- Product breakdown slide
- Product: Market overview slide
- Product: Market “the way it works” slide
- Product: Accounting & admin software program introduction slide
- Product: Banking introduction slide
- Product: Financing introduction slide
- Goal buyer slide
- Market dimension slide
- Drawback slide (“SMEs wrestle to get financing”)
- Answer slide
- Go to market slide
- Mission slide
- (Redacted) strategic focus space slide
- (Redacted) product roadmap slide
- Acquisitions slide
- (Redacted) income development slide
- (Redacted) unit economics slide
- (Redacted) revenue & loss slide
- (Redacted) steadiness sheet slide
- Workforce slide half 1 (“Meet the founders”)
- Workforce slide half 2
- (Redacted) organizations slide
- Authorized construction overview slide
Three issues to like
There’s loads happening on this deck. Not all of it’s nice (and, as at all times, we’ll cowl that within the second half of this teardown), however the highlights are vivid as they will get:
Complete product portfolio
Ageras has been round for 11 years, beginning off as a service to match small enterprise house owners with accountants, tax professionals and bookkeepers. Then the corporate began including associated providers and grew from there. Clearly, that’s a posh story to speak, however the workforce does a very masterful job of giving an summary:
[Slide 9] An excellent ‘what we do’ abstract. Picture Credit: Ageras Group
As a mature firm with worldwide operations, the product providing goes to vary from nation to nation in line with native compliance guidelines and legal guidelines. The pitch deck breaks down the variance in an easy-to-ingest method:
[Slide 12] One of many product overview slides. Picture credit score: Ageras Group
Shrewd use of information
As Ageras will get entry to extra monetary knowledge and connects its prospects with professionals, one thing fascinating emerges out of that synthesis: It is aware of extra in regards to the monetary well being of its prospects than practically anybody else.
As such, it discovered that it may provide monetary providers (i.e., small enterprise loans) with decrease dangers than a financial institution that doesn’t have the identical quantity of day-to-day visibility:
[Slide 17] Wonderful storytelling round the issue assertion. Picture credit score: Ageras Group
In impact, Ageras is leveraging its knowledge so it might provide extra loans to what it refers to as ‘medium-risk’ companies.
This slide teaches us that it’s a good suggestion to at all times be looking out for adjoining providers that may evolve out of a robust enterprise. When Ageras was simply matching corporations to accountants, it wouldn’t have been in a position to pull this off. However as its buyer base and quantity of obtainable knowledge elevated, the alternatives did, too.
Some late-stage flex
I wished to share a pair slides from this deck as a result of I don’t usually see such supplies in earlier-stage pitch decks they usually intrigued me.
As complexity evolves, it is smart that the corporate wants a global construction to assist its operations in numerous nations:
[Slide 31] Firms proudly owning companies proudly owning companies. Picture Credit: Ageras Group.
Ageras has been rising into new markets and verticals by buying corporations. The slide itself, I feel, has a few main flaws (we’ll discover these afterward), however its presence within the deck is a superb flex for a late-stage firm:
[Slide 23] Development by means of acquisition. Picture credit score: Ageras Group.
The corporate redacted the info from slide 19, however you may nonetheless be taught one thing from it: Buyer acquisition value continues to be essential, and should you can report it as a trailing common graph, you’re telling buyers that you already know it’s necessary, you’re monitoring it, and also you’re actively working to enhance it.
[Slide 19] CAC over time. Yessssssss. Picture credit score: Ageras Group.
In the remainder of this teardown, we’ll check out three issues Ageras may have improved or achieved in a different way, together with its full pitch deck!