BIPPIT - Investment Opportunity
**Backed by early investors in Monzo, Freetrade, and Calm** Only 1 in 10 employees have been able to speak to an expert about their financial concerns. Millions of us are left to make the biggest decisions of our life, on our own. Covid-19 has made things even more complicated, but professional support is still inconvenient, expensive, or simply not available. For businesses, the financial concerns of their employees have a big impact. Staff are less productive, less likely to finish tasks, and more likely to look for a new job. This adds up to 15% of payroll costs that can be saved by dealing with financial stress in the workplace, and for this Bippit offers highest quality financial care.
INTERVIEW WITH ENTREPRENEUR
Interview with Bippit's founder Samuel Lathey
INTERVIEW WITH LEAD INVESTOR
Interview with Andrew Gale, early investor in Monzo, Freetrade, and Calm
THE IDEA
Products & Services
Bippit's wellbeing platform provides employees everywhere with ongoing support from a finance professional, with zero cost to them.
The service is available on both mobile and desktop, and it integrates with an employees’ entire financial life through Open Banking, so staff members receive all the tools they need to learn, plan, and take action with their finances
The experts on their platform work flexibly and remotely, and benefit from a variety of efficiency tools that make personalised support radically more efficient, and radically cheaper.
With Bippit's platform
- Companies save time and money
- Employees receive impartial support
- And Experts get an extra revenue stream
Problem Solved
3/4 employees say that their financial concerns effect them at work, and the Covid-19 pandemic has made this problem even more acute. Getting professional financial support is inconvenient, expensive, or simply not available, and the financial concerns of employees has a big impact
- Staff are 7.6x less likely to finish daily tasks
- They lose 3.6h of productivity each week
- And they're 2.2x more likely to look for a new job
All of this adds up to 15% of payroll cost that can be saved by dealing with the financial concerns of staff members
With Bippit, every single member of staff gets a perfectly-matched expert to answer any concerns or questions that they have
Revenue Model
Bippit charges companies a monthly subscription fee
The cost starts at £5 per employee per month, and that cost reduces at scale
Businesses pay as a coverage product so every employee is counted whether they register or not
The subscription fee that we charge businesses is enhanced by the commissions that we can generate when employees use products from our trusted partners
This will include utility switching and pension consolidation (imminent), plus saving, investment, and mortgage broking (coming soon). Revenue from these products ranges from £25-£2k
The more interactions with Bippit’s experts, the more conversion into these products, and so the model protects our margins
Exit Strategy
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Minimum Target
£ 75,000
Maximum Target
£ 450,000
Minimum investment amount
£ 5,000
Maximum investment amount
£ 450,000
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LONDON
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