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Startup Stage - Ecommerce & Product Marketplaces - Presentation by David Maso, Co-Founder & CEO of at the NOAH Conference London 2017, Old Billingsgate on the 3rd of November 2017.

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  1. 1. 1Promofarma © 2017Promofarma © 2017
  2. 2. Three Conferences, One Mission: Empower the European Digital Ecosystem To provide a physical marketplace that facilitates funding of digital European companies at all stages Mission Mission Mission Connecting Capital with Entrepreneurs Connecting European Champions and Challengers Connecting Israel’s Startups with Large Corporates and Investors 30-31 October 2018 Old Billingsgate, London 6-7 June 2018 Tempodrom, Berlin 13-14 March 2018 Haoman 17, Tel Aviv To promote Israel - European relationships and enable funding To bring together future-shaping executives and investors active across segments driven by digital revolution
  3. 3. 2Promofarma © 2017 What is Promofarma Promofarma is an ecommerce marketplace selling Health, Beauty and Personal Care products, direct to Consumers, from hundreds of independent pharmacies Direct from Pharmacies with lowest price… Consumer’s home with Next Day delivery We hold no inventory and our marketplace integrates the catalogue, pricing and stock levels of a network of 500 pharmacies and health stores Widest Catalogue 40,000+ Health Products
  4. 4. 3Promofarma © 2017 What kind of products we do sell? Skin Care Diet & Weight Loss Baby Food Baby CareOral Care Vitamins & Nutritional supplements Personal Care Bath & Spa Eye Care +70 additional product categories 40,000+ products 3,000+ Brands80 categories We provides the widest catalogue of mid-to-high-end consumer health products in a unique eCommerce marketplace. We do not sell prescription drugs
  5. 5. 4Promofarma © 2017 Consumer Health market in Europe The European Consumer Health market is worth €100B and growing faster than the local, highly regulated €200B Prescription Drugs market Our total addressable market is 70B€…. and shifting fast towards ecommerce Sources: IMS Health, IRI WorldWide, PF • Skin care, Diet/Weight Loss, Baby Food, Hair care, Oral hygiene, Vitamins and Nutritional Supplements • The market is growing year by year due to an increase in the self-care lifestyle & Rapid ageing expected in many countries Consumer Trends Products Sellers • Highly-fragmented market selling 200.000+ products • From more than 50.000 off- line sellers (most of them independent pharmacies & health stores) Consumer Health market in Europe €100B 70% Promofarma addressable market OTC Over The Counter 19,4% PEC Personal Care 40,5% PAC Patient Care 2% NTR Nutrition 37,9% 10% Pain Relief 9,4% Consumer Vitamins & Nutritional Supplements Oral care 7,8% Dermocosmetics 32,7% Incontinence 0,7% Baby 16% Sanitary accessories and others 1,3% Enteral 19,4% Diet 2,5%
  6. 6. 5Promofarma © 2017 eCommerce: Consumer Health & Prescription drugs market Currently the consumer health ecommerce market in Europe is 2B€ and expected to reach 10B€ in 2022 Vertical marketplaces in consumer healthcare are scalable, capital efficient, take "care of the consumer" and with international potential. Promofarma is the leader in this category No dominant player in Europe Horizontal vs vertical marketplaces Inventory Warehouses Branded Packaging Next Day Shipment Content & Advice ✓ ✘ ✘ ✘ ✘ ✘ ✘ ✘ ✘ ✘ ✘ ✘ ✘ ✘ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ Main focus on Prescription drugs Consumer health focus but with stock & local focus Marketplace model integrating pharmacies ✘ Payments
  7. 7. 6Promofarma © 2017 The problem with such a fragmented market (off and on) Consumers Pharmacies & Health stores • Price: Price of consumer health products may differ by up to 70% between pharmacies • Product Selection: Difficult to find all mid-high-end quality products in a single pharmacy / Supermarket • Advice: Consumers are improving their health literacy and expect a higher level of advice • Competition: Independent pharmacies facing high competition due to development of new retail chains of consumer health products • Internet: Traditional independent pharmacies don’t know how to reach the new digital consumer • Reach: Mid-high-end products with high margins sold by independent pharmacies have a reduced local market reach Ecommerce Internationalization • Inventory: Ecommerce companies have local inventory with a country specific focus due to the SKU fragmentation demand across EU • International scale-up: Business model of ecommerce companies based on inventory + warehouses is not capital efficient and doesn’t internationalize
  8. 8. 7Promofarma © 2017 Promofarma: Our unique vertical marketplace model CATALOGUE PRICE EASY BUYING PROCESS NEXT DAY Largest product catalogue in a unique store combined with… Excellent user experience, geared towards high repetition Selection of best sellers/ pharmacies (high margin products) providing a high average take rate (20%) to Promofarma Buy and “learn” content strategy for maximum consumer engagement … best price shopping cart option with proprietary algorithm 1 2 34 5 6 Promofarma has built a unique vertical managed marketplace model of selected pharmacies, with the maximum potential for international expansion Management of end to end supply chain, allowing guaranteed next day delivery, without inventories and warehouses
  9. 9. 8Promofarma © 2017 Evolution GMV vs Visits What we achieved since we launched the marketplace GMV (M€) Visits(M#) Key highlights +40% per Cohort Repeat buyers € Very equity efficient Marketplace model: 6,5M€ up to date € € Media4Equity: 3,2M€Series A: 2,1M€ Convertible: 1,2M€ € Now Series B 6,6 14,8 24,5 *Includes VAT: Average 16.4% +40% Sales Via mobile 20% High average take rate
  10. 10. 9Promofarma © 2017 Our team: 54 talented people with international experience Founding team: Current Investors: Key team members: + 4 Top Spanish Family Offices
  11. 11. 10Promofarma © 2017 Our European cross-border channel just opened in beta. In just 3 weeks and with no marketing… we have already sold and shipped to more than 15 countries Promofarma just started its cross-border operations 1st phase: Cross-border from Spanish sellers Increase personalised health content and advice
  12. 12. 11Promofarma © 2017 We have an ambitious business plan to conquer Europe Ambitious plan to lead the ecommerce European Consumer health marketHighlights 0 50 100 150 200 250 300 350 400 2017 2020 2022 GMV (€M) 6x 2x Expand into 4 European countries in the next 2 years Increase our proprietary algorithms and data science to maximise customer life time value Increase personalised health content and advice 24 170 348
  13. 13. © David Masó Co-found er & CEO M. +34 666499517 @
  14. 14. Selected Completed NOAH Transactions Focus on Leading European Internet companies Covering over 400 companies across 25 online verticals, a broad range of over 500 investors as well as 100+ online-focused corporates Deep understanding of industry dynamics Ability to add value beyond banking advice Facilitates overall process and minimizes management distraction NOAH Advisors is globally well connected and has direct access to virtually all key players in the industry Knowledge of and strong relationships with potential buyers’ key decision makers Proactively finds and unlocks attractive investment opportunities for leading investors Annual NOAH Conference in its 8th year Over 40 years of combined relevant M&A experience Routine execution of M&A and financing transactions with sizes of several billion euros 30 successfully completed NOAH Advisors transactions underline successful transfer of M&A competencies to the Internet sector Entrepreneurial mind-set, focused on growing the business and establishing a reputation for excellence Ability to deliver top results in short time frames Highly success-based compensation structures align interests of clients and NOAH Advisors, and demonstrate conviction to deliver top results Creative deal solutions December 2014 September 2014 October 2014 May 2014 Sale of 100% of for $800m to Exclusive Financial Advisor to Fotolia and the Selling Shareholders Sale of 100% of for €80m to Exclusive Financial Advisor to Trovit and its Shareholders Sale of controlling stake in to Exclusive Financial Advisor to and its Shareholders sold 100% of for $228m to a joint venture between Exclusive Financial Advisor to Yad2 and its Shareholders Unique Industry Know-How Unmatched Network and Relationships Strong Investment Banking Competence Full Commitment - We Are Entrepreneurs! EUROPE’S LEADING INTERNET CORPORATE FINANCE BOUTIQUE September 2016 December 2016 October 2016 Financial Advisor to Oakley Capital ® Marco Rodzynek Managing Director & Founder Jan Brandes Managing Director Justus Lumpe Managing Director The NOAH Advisors Core Banking Team Nikhil Parmar Director Acquisition of a Majority Stake in by from at a valuation of €300m Investment in Exclusive Financial Advisor to KäuferPortal and its Shareholders by 84% Ownership Financial Advisor to Silver Lake Investment in by August 2017 Financial Advisor to EMK Capital Acquisition of a Majority Stake in by at a valuation of $200m