 Hi everyone, imagine you're with a group of friends and you planned the most wonderful trip ever You took your time off and the only thing you need to do is to actually book your plane tickets However, no one wants to be the one paying for the group But you want to because you want to sit together during the plane ride But they have a good reason to not want to because the last time they did that when they fronted either a big ticket item like a Plane ticket or a towel for the group of friends It took them forever to get everyone to settle their shared expenses And the reason being is whenever right now you're sharing finances with someone the experience looks something like that Where you're basically signing up to become a free and unpaid Accountants and project manager in the group where everyone has to remember what they paid How did they decide to split the share is there any old debts that they need to set? Settle with their friends you have to review it to make sure there's not a world-worth re happening when someone disagrees about their share of the Expenses and then you have to collect it or at least try to collect it I would like to ask you how many of you have friends who owe you money and you still haven't settled the bill It happens to all of us And This is not only for trips because this happens to roommates who live together and they need to splint it splits rent Utilities it happens to partners who need to go grocery shopping or to friends who just go out and drinks and dinners on the nights out And we have evolved a lot Technologically, but the simple and the most principal thing of sharing moments and sharing finances together Really hasn't evolved much throughout the history of FinSAC, so let's look at it Back in 1966 where most none of us were born at that time. That was the first start of the debit card technology We then had our first digital transfer followed by online banking and here What I mean by online banking is just the ability for you to log into a laptop and see what's happening with your bank account information instead of going to the bank office directly and then in PayPal started with digital transfers and creating the FinSAC infrastructure that we're more familiar with today and Finally in 2000s we got our beloved contactless cards and as you can see in 40 years There hasn't been anything done in the realm of social finance until 2009 Which at what point happened two things you first had an app Maybe some of you are familiar with called split wise which was really good at helping you understand who owes you money So for example if I paid 10 euros for breakfast you pay 20 euros for lunch and you paid 50 euros for dinner we need to figure out who owes who and how much money so you would have used an app like split wise and Then to actually get the money you would use a different app maybe PayPal or Any other app that you have in your country to actually request that money and try to get it back Moving forward we seen 2011 mobile wallets and neobanks But nothing else has evolved since 2009 in the social finance Space which means that we're stuck in the same process the one of fronting money for our friends and loved ones Calculating manually who owes who what and then asking to be reimbursed usually spreads between two different applications And this was a story until last year when she and I was born and what we're bringing to the table is the ability for people to pay Together so that you don't have to do any of the three previous steps. I just mentioned. What do I mean by paid together? Well Imagine you're at the restaurants and you're just set to pay the bill But instead of fronting it you have paid and settled it at the same time in just one tap Let me explain you how that works In essence what we've done in the background is we've connected multiple bank accounts to one card So that the moment you actually make the payments You're only getting charged your share of the expense in real time from your bank account The restaurant gets the full amount and they don't even know that you have split the bill But you're never paying more than your share of the expense and The setup is pretty quickly because you connect your bank account to Chino You can create groups anytime with anyone that you like the moment you create a group We instantly issue a virtual cards for all of people within the group So you can either add it to your Apple pay or Google pay or use it to do online payments Anyone in the group is able to make the payment for the group any payment is instantly pay and split It's tracked in the app. So, you know exactly who made the payments What was the total amount and what is the share of the expense that you paid and you can actually change the split ratio? Anytime very easily This is perfect for Groups that are recurring right so it could be roommates friends on trips or couples But we've also done an experience for maybe friends or colleagues that you don't meet as often in In that case your friends and colleagues don't need to have the Chino app You just generate a QR code on Chino they select they scan it They select their share of the expense and they can easily join the payment directly through their Apple pay or Google pay without needing the Chino app These are just some of the pictures that we receive on a weekly basis from our users because the reason why people love Chino is not because it's very Efficient and seamless but because we actually save a lot of relationships What do I mean by that is that whenever you're trying to build memories and having funds with the people that you love The number one thing that ruins that experience is when you have to talk about money Imagine you're on a date and you have to say well I paid last date so probably he should offer to pay this date and maybe you forgot another payment There's a huge amount of resentment when you constantly evolve the conversation of money But with Chino you have a conversation once of how you want to split the ratio and then you forget it at all and The segment that we're focusing on is Gen Z because believe it or not They're splitting with someone else at least on a daily basis It could be a coffee during there with their classmates from university It could be buying groceries with their roommates or going on a date with their partner The frequency is very very often and the volumes are also pretty big This is the statistics of an average couple from Germany and how much they spend together on the monthly basis To give you perspective and new bank usually tries to get at least 600 euros of the share of wallets of the user While we have at least 900 euros I say at least because we're not even including rents and utilities into this and our network How we're growing is through a network effect whenever we acquire one user They bring at least two other users to our platform Which means it contributes to the 40% of our entire user acquisition strategy and our vision is to enable group payments Everywhere so I spoke a lot about the consumer side But the businesses are also suffering because of this problem when you're looking at the online travel agency 80% of payments fail due to insufficient funds and it makes sense right because if you're trying to purchase a Hotel for three friends for a week you might not have a thousand five hundred euros Ready available in your bank accounts to make that payments But this equates to a colossal loss of revenue just in Europe alone every single year It's equivalent to 40 billion euros I would like to conclude today by saying that although we're live all across Europe Finland has become our top market So we're very very grateful to be here and coinciding with slush And if you haven't done already so I invite you to join and make your splitting expenses simple with Chino. Thank you