Pitch Deck Teardown: Faye’s $10M Series A deck

A year ago, Mike Butcher reported that Faye hopes to do for travel insurance what Lemonade did for general insurance, and that’s as good a summary of what Faye does as anything else. The company was kind enough to share its (lightly redacted) presentation with me so I could take a peek under the hood and see the narrative it wove to close its $10 million.

We’re looking for more unique pitch decks to tear down, so if you’d like to submit yours, this is how you can do that.

Slides in this deck

Faye elevated her Series A round with a deck of 19 slides, some of which have been lightly redacted to protect sensitive data from prying eyes:

  1. deck slide
  2. summary slide
  3. team slide
  4. problem slide
  5. Market Size Slide
  6. Insurance Marketplace Overview Slide
  7. Product Overview Slide
  8. Product features slide 1
  9. Product features slide 2
  10. Product features slide 3
  11. Product features slide 4
  12. Go-To-Market Slide
  13. Financial Growth Metrics Slide
  14. Customer Growth Metrics Slide
  15. Customer Validation Slide 1
  16. Competitive Landscape Slide
  17. The Ask Slide
  18. Customer Validation Slide 2
  19. Closing slide with mission statement

three things to love

Let’s get this straight up front: this is a really great presentation. I’ll be adding it to my rotation of decks which are great examples of distilling a potentially complex story into an easy to follow narrative.

I love a good summary slide

As I mentioned in my post about summary slides, the combination of the cover and summary slides sets the context for the rest of the conversation. Faye did a great job of showing how a good, concise slide can set the pace.

[Slide 2] Setting the pace Image Credits: Faye

The company lists traction ($M in sales) and market penetration (available in 48 states), along with market size and market growth rate. These four figures paint a picture that presents a pretty compelling investment opportunity.

If we take all the numbers at face value, the next step in the story is convincing investors that this is the right team to take on this market.

Which brings us to slide 3, the company team slide. Unfortunately, it’s not that great, so we’ll talk about it in the “What could be improved” section later in this article. For now, let’s move on to another slide that you did a great job of adding to Faye’s story.

Great narration on the market size slide.

[Slide 5] What a great way to use the size of the market to your advantage. Image Credits: Faye

Once again, there is data redacted here.

Faye’s numbers aside, this is a rare example of a market size slide that also provides the rest of the context. I thought it was very well done.

Showing that the size of the market is (presumably) huge, and then essentially saying, “But the TAM could be bigger by increasing service offerings and international rollout,” is very clever. He shows that there is a great opportunity available at the moment and that the opportunity could grow even more.

The data points on the left are also great as they contextualize the business in the broader market.

This slide teaches us that you can tell a complete story without confusing the message. I imagine the voiceover for this slide would be something like this:

The market we are targeting is $xx right now, and it could be as large as $yy once we fully address it. That really The exciting thing here, however, is that the market is easily disrupted. There is little innovation, no recognized consumer brands, operating brands have low market penetration, and the entire market is growing 10% year-over-year.

The narrative ties it all together, painting travel insurance as a very interesting opportunity.

Comparison between markets

Faye focuses on travel insurance, using a few adjacent markets (car and home insurance) as comparisons to show that travel insurance is a better deal. Again, the numbers here are redacted, but as far as storytelling goes, this is a really good approach:

[Slide 6] Insurtech galore. Image Credits: Faye

I suspect the company added this slide to calm investors who have been put off by other insurtech plays. Assuming the numbers are good, this is a truly inspired way to position the market, and Faye within it. Well played indeed.

In the rest of this teardown, we’ll be looking at three things Faye could have improved or done differently, along with her full launch pad!

Three things that can be improved

I’ve already said that the team slide could do with a little love, so let’s start there.

Launchpad Teardown: Faye’s $10 Million Series A Deck by Haje Jan Kamps originally posted on TechCrunch

Article Source link and Credit

Leave a Reply

Your email address will not be published. Required fields are marked *

Previous Post

We Asked ChatGPT What is The Future of Meme Coins Like DOGE, SHIB, and PEPE, Here’s the Answer

Next Post

Daylight’s sunset and Meta’s year of focus

Related Posts