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Fig Investor Deck

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									Pay faster, now
Fig Team
                   Co-Founder (currently operating)
                   Co-Founder (sold to Earthlink)
  Max Metral       Lead Architect & Developer, Microsoft Passport
                   Co-Founder (sold to Microsoft)

                   Co-Founder (currently operating)
 Hasty Granbery    Software Architect

                   Co-Founder/Executive Director
Dave McLaughlin    Director of Marketing

                   Venture Capital Investor
Jess Bloomgarden
                   Tech Investment Banking
The Big Problems
 Distribution         Phone                               Transactions in
 Economics           Hardware                                Context

                            Solution: Target
                       Table Service Restaurants

                1   Highest value for merchant and consumer

                2   Even geographical distribution

                3   Point of Sale (POS) vendor concentration
TSR Problem: Payment Processing
                              Long                                                  Complicated

  10-20%          30%                      40%            10-20%

  Pre-Order      Post-Order                      Meal    Payment
Consumption                                             Processing

 Customer                            TSR                             Customer              TSR
• Dissatisfied                   • Losing revenue                    • Check splitting     • Labor intensive
                                 • Unhappy customers
TSR Solution: Fig
              Mobile payment app integrated with merchant POS

1   Customer receives table code from waiter
    or via marketing material
2   When ready to pay:
    – Opens Fig App
    – Finds restaurant
    – Finds bill using table code
    – Check splits                                       Consumer                    Merchant
    – Pays w/ linked credit card or bank account         Mobile App                 POS System

3   Leaves


     Customer                                        TSR*
           Convenience                                     Revenues 20%
           Speed                                           Labor 10%
           Security                                        Profit 23%
                                                           * Assumes peak periods
TSR Opportunity
    2010 TSR Market                         2012 TSR Market

   $184B Annual TSR Revenues               $188B Annual TSR Revenues

        55% Initial POS                         90% Initial POS
          Coverage                                Coverage

             17%                                     50%
          Smartphone                              Smartphone
          Penetration                             Penetration

           $17B                                      $85B
        Addressable            124% CAGR          Addressable
        TSR Market                                TSR Market
Growth Strategy


                                  Drives broad
                 Drive consumer   merchant
  Target TSRs    user base        adoption
  $17B market                     $700B market

         1             2                 3
Value Creation & Capture
              Payment Processing                 Data Aggregation

                    Discounted rates
                                              Brings “big-merchant” database
Merchants        (benefit from Fig scale)
                                              marketing capabilities to SMBs
               Simple backend processing

                                                Online receipt management
                                                     (line item detail)
Consumers      Faster & simpler payment
                                                 Ease of social integration
                                                 Targeted loyalty benefits

                  2% transaction fee        Database analytics:   $100/month
Fig Revenue               +                 Loyalty management : $50/month
                    $100/month              Premium targeted ads: $1/user/yr
User & Merchant Acquisition
           Launch                         Growth                        Maturity

   Viral: referral programs, group signup discounts, social media & blogs, PR tactics

   Direct Salesforce:             Telesales:                      Internet advertising:
   - Merchant signup              -POS vendors                    -Adwords

   Direct email:                  Distribution partners:
   -Targeted opt-in lists         -POS vendors
   - College list serves          - Opentable, Seamlessweb, Yelp, other SMB vendors

   Web Marketing:                                                 Merchant shows:
   - SEO                                                          -Industry events
   - Website

   Local focus:                    Multiple cities:               National expansion
   -Boston                         -Boston, NYC, SF, LA
Fig Technology
                                         Fig App

See demo here:

Scalable:                       Defensible:        Proven:
-Software solution              - Patent Pending   -In Pilot testing
-Mobile app for consumer                           -20+ Merchant LOIs
-Software download for
Fig vs. Existing Solutions
                  Cash     Credit Card   Other Mobile   Fig
Speed             Medium   Slow          Varies         Fastest
Convenience       Low      Medium        High           High
Control           Medium   Low           Medium         High
Ease to Split     Medium   Low           Medium         High
Ease to Process   Medium   Low           Varies         High
Security          Medium   Low           High           High
Privacy           High     Low           Varies         High
Loyalty           None     Low           Medium         High
Competitive Landscape
TSR Mobile Payment Competitor
                                   No POS integration

                                   Bar focused; still requires server interaction; doesn’t
                                   scale to other retail categories

Retail Mobile Payment Competitor
                                   No POS integration; barcodes, requires ACH up front

                                   NFC-based: requires new hardware for consumers,
                                   expensive hardware for merchants
                                   P2P focused; no merchant or POS integration

                                   Social payments to exchange money through SMS,
                                   mobile apps, or Web; no merchant or POS integration
                                   Bill to carrier
            Fig seeks $1mm to achieve key milestones

2010                 $1mm   Q1-Q2 2011          Q3-Q4 2011

  • Founded                   • Launch            • 500
    Company                     product             independent
  • Alpha Product             • 100                 merchants
  • 1 merchant                  independent       • 2 large chains
  • 20 LOIs                     merchants         • 75,000
  • Patent Pending            • 10,000              consumers
                                consumers         • 5-10 POS
  • iPhone
                              • 3 POS systems       systems
  • Android
                              • Blackberry

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