Modern

Underbanked

Consumers

No checking account

Limited financial services

Risky illiquid assets

Cash hidden under beds

Businesses

Cash-carry risk

Expensive bank transfers

80MPeople without bank accounts

Mexico

5.9MCurrent microfinance customers

Mexico

80MPeople without bank accounts

Mexico

5.9MCurrent microfinance customers

Mexico

250MPeople without bank accounts

Latin America

19.8MCurrent microfinance customers

Latin America

67% of smartphones Dec 2014

Demo

Network effects

3Factors to adoption

Microfinance Lender

💸➡

💸➡

3–10%Lost interest revenue

Siempre Creciendo

Finclusion

Itaca Capital

Solfi

Fincomun

Equipat

Si Microcreditos

Conserva

Telecom deregulation

Auth via gov ID (KYC)

Microfinance Lender has user documentation

Simple acquisition problem

Clean, simple app

Lighter than WhatsApp

Cell network–agnostic

Stores

OXXO (11,000)

7/11 (1,552)

Multired (14,000)

Banks

Banorte (1,269)

BBVA Bancomer (1,704)

HSBC (1,400)

Santander (706)

ScotiaBank (600)

Banamex (1,600)

Bill Pay

Telcel (cell)

TelMex (landline phone)

Movistar (cell)

IUSACELL

Sky (TV)

IZZI (TV)

CFE (Electricity & gas)

Maxcom

Your local business

Stores

OXXO (11,000)

7/11 (1,552)

Multired (14,000)

Banks

Banorte (1,269)

BBVA Bancomer (1,704)

HSBC (1,400)

Santander (706)

ScotiaBank (600)

Banamex (1,600)

Bill Pay

Telcel (cell)

TelMex (landline phone)

Movistar (cell)

IUSACELL

Sky (TV)

IZZI (TV)

CFE (Electricity & gas)

Maxcom

Your local business

33,000+ Locations+ utility & services bill pay

Modern