Buying and InvestingJob Summit

12-13 November 2015

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PREPAY SOLUTIONS

▌ 2000 - Inception as Splash Plastic (B2C), renamed PrePay Technologies (B2B) in 2001, changed

commercial name to PrePay Solutions in 2009 Program managing and processing prepay cards (gift, payment, expenses…)

£3bn business volume (2015), 150 people, HQ London, Datacenter Swindon

Operating in 24 countries

▌ £10m total equity raised in 2000, 2003 and 2005 from London Business School, GE Capital, Arts

Alliance, Upfront Ventures, Link Interchange Network

▌ 2007 - Sold £52m to French group Accor

▌ 2009 - Turn into a JV (70/30) with Mastercard

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▌ “French”, 26 years in B2B (pharmaceuticals, IT financing, IT engineering, Management

Consulting, Consumer Benefits) in New Zealand, Australia, USA, UK and France

▌ London Business School MBA (FT 1998)

▌ Set up PrePay Technologies in 2000 (now PrePay Solutions) and sold it in 2007/2009 to French

group Accor Services, now Edenred

▌ Now: SVP Alternative Investments, member of the Edenred group EXCO

Founding Partner in Edenred Capital Partners, the Corporate Venture arm of Edenred

Advisor and investor in various companies

Board member in 5 companies

▌ Passionate about “Supporting”

BUYING AND INVESTINGPoint of view of an entrepreneur: Philippe Dufour

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5TIPS ON BUILDING A BUSINESS

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RAISE MORE THAN YOU NEED

07/07/2000FTSE 6400

25/09/2007FTSE 6450

IN OUT

2nd fundraising

3rd fundraising

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RAISE MORE THAN YOU NEED1

“We invest £1m in your

company if you raise £6m

instead of £5m”GE Capital – April 2000

-1st pivot - Launch of

Debenhams

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AIM FOR BRAND ASSOCIATION

ORGANISATIONS

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AIM FOR BRAND ASSOCIATION

ORGANISATIONSORGANISATIONS

MD of Barclaycard Emerging Markets

Former Chairman of Barclaycard

Former CEO Europe of EMI Music

Former CFO of Carrefour

PEOPLE (NED)

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INVEST IN PEOPLE

Aim for the best people but don’t set them for failure

Build a team, align them collectively on the upside

Don’t hesitate to change, even the closest collaborators

and…If you have a doubt, you have no doubt

PEOPLE are the asset

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PIVOT OR DIE

$

TIME

In the digital economy, TIME factor is even more critical

Before the 90’s/digital economy: Time was less critical Business were more protected The market could slowly adapt

Today in digital economy: Pivot until you get to inflexion Adapt to the market Competition is watching…and

copying

Inflexion

unknown

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BE PASSIONATE, NOT BLIND

“BELIEVE”, IF YOU DON’T, WHO WILL?

BE PARANOID, THINK ABOUT MURPHY’S LAW

LEARN FROM MISTAKES

DEFINE YOUR OWN SUCCESS

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3Click icon to add SmartArt graphic EDENRED AT A GLANCE

World leader in prepaid corporate services

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42Pays

€1.03bnRevenue

6,000 Employees

€18bnIssue Volume

41m Beneficiaries

660,000 Clients

1.4m Affiliates

4Click icon to add SmartArt graphic EDENRED CAPITAL PARTNERS

Organisation

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Philippe Dufour Director, Edenred Capital PartnersSVP, Alternative Investments, Edenred SA

Florian Denys Analyst, Edenred Capital Partners

Norbert Furnion Director, Edenred Capital Partners

2 Offices Investment in Minority stakefrom €250k to €5m

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Corporate Venture Arm of Edenred Group

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OBJECTIVES SECTORS INVESTMENT CRITERIA

EDENRED CAPITAL PARTNERS IS A FINANCIAL INVESTOR SUPPORTED BY AN INDUSTRIAL

BUT IS NOT AN INDUSTRIAL BRINGING FINANCING

▌ Foster innovation internally

▌ Develop new sources of

revenue

▌ Disruptive business models

around Edenred core business Employee Benefits

Expense Management

Incentive & Rewards

FinTech

HR/Recruitment Tech

▌ Team

▌ Market

▌ Maturity

▌ Deal Structure

6Click icon to add SmartArt graphic INVESTING IN HR TECHNOLOGY

A market in the spotlight

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▌ Large and growing market

▌ Innovation and Big Data analytics

▌ Scalability

▌ Globalisation

▌ Strong M&A activity

INVESTMENT RATIONALE

~ $35MLast: $27M in Sept-15

Fundraising

~ $93MLast: $45M in June-15

~ $56MLast: $25M in Oct-14

~ $53MLast: $28M in Oct-15

~ $63MLast: $63M in Aug-14

7Click icon to add SmartArt graphic FOCUS ON CANDIDATE ENGAGEMENT TECHNOLOGIES

Managing relationships with active and passive candidates

Candidates

CRM

ATS

SOURCING /MARKETING

HRISRELATIONSHIPS

Engagement Technologies

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FOCUS ON HR TECH

▌ Manage relationships with active and passive

candidates is a growing point of interest in the

recruitment value chain Candidate engagement technologies are the hot new

space (also called Talent Pools, Talent Communities and Candidate CRM)

▌ One of the most innovative segment in the Human

Capital Management

▌ Beamery provides candidate engagement

software that combines a smart Recruiting CRM

powered by machine intelligence with advanced

recruitment marketing technology

▌ Their software helps companies Attract, Convert

and Engage the best talent by treating candidates

like customers

Overview Investment Rationale

T R E A T C A N D I D A T E S L I K E C U S T O M E R S

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FOCUS ON HR TECH

▌ The HR ecosystem has evolved and generates

huge volumes of disconnected data 9% of companies use predictive analytics to inform

workforce decisions

▌ Greater use of data promises a revolution in the

way HR decisions are made Organisations making data-driven and unbiased people

decisions will achieve superior sustained performance

▌ Video interviewing is a good entry point

▌ LaunchPad is bringing the power of data-driven

decisions to HR through its video platform

▌ Initially a video online interviewing solution,

LaunchPad is leveraging data to identify and

remove bias from the entire employment cycle

▌ 140+ clients, including many global groups

Overview Investment Rationale

V I D E O - L E D T E C H N O L O G Y A N DH R S A A S - B A S E D D A T A A N A L Y T I C S

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