Embedded Finance, teeming with endless possibilities, is transforming the way financial services are being

consumed, creating pivotal opportunity for NatWest to pioneer financial evolution & championing potential
EmFi Architecture BENEFITS
Of respondents (EY survey) believe that the key to

94% CUSTOMERS • Reduced Time • Streamlined User

success of a financial product is its relevance in Value Value and Effort Experience
addressing customers’ real-time needs
Chain Web
Embedded Finance Offering • Broadened • Increased

$ 7Tn
1
By 2026, the transactions value of Embedded Front-end Integration Offerings Revenue
finance, in the US alone, will reach close to
2 Middleware Provider • Reach New • Expand Product
Of institutions, in a Finastra survey, agree that Banking Capability Stack- Data, Tech., API Verticals Offerings

83% as a Service (BaaS) and Embedded Finance are already

demanded by customers 3
Underlying Financial Institution
Regulatory Lic., Risk Management
4x Lesser CoA
than E-commerce
30x Lesser CoA
than Retail

Embedded-Finance offerings across industries

High
“Reduces carbon footprint, “Want to educate

Insurance
Payments
and negative impact on importance of bite sized

Personal
4

Lending

Finance

Scoring
Expert

Wallets

Border
Digital

Credit
environment” financing decisions”

Cross
Business

ESG

Market Opportunity
Interviews
Owners

Marketplaces
“Enables us to build stronger “Quick access to real-time eComm./Retail
Customers

customer relations” capital”

8 Research
Papers
“While buying car, I get access
to insurance, EMI and BNPL
“Want to be more informed
about my payment decisions”
Logistics

Telecom/Media

Manufacturing

7 Annual now; it would be great to have

the same experience in fashion, “I like to be aligned to ESG Hospitality
Reports Retail
and inclusivity”

Low
e-Commerce and travel. ”
Customers Energy

KEY FOCUS
NATWEST VISION

AREAS
We remove barriers to create
62%
of customers want their bank to help

SUCCESS STORY
strong enterprises. We turn
ambition into action to help
CLIMATE them reduce their carbon footprint X
tackle climate change. ENTERPRISE 26% ofcaptured
global SME banking market could be
by Embedded Finance by 2025 Developed the world's ATTRACTED
300,000+
And we build financial capability first carbon tracker
through learning. LEARNING 33% ofliterate
world population are financially fully integrated into a
banking app
USERS
IN FIRST 9
 Problem Statement: Crave Rich Foods, known for its fresh and frozen raw meat and ready-to-cook meat products, is grappling with key decisions: branding strategy, vegan/non-Vegan, Product
Focus. We need to address the dilemmas, craft a comprehensive and adaptive GTM strategy to position Crave Rich Foods as a frontrunner in the evolving landscape of meat analogs.
Market Scenario Dilemma Resolution STP GTM Strategy
• Textured Vegetable Protein segment
dominates in size and growth rate Parameters New Brand Creation Brand Extension Vegan Non-Vegan Raw Meat Ready-to-Cook
Parameters
• 80% of the population is protein Alternatives Plant-Based
 Growing  Mainstream
deficient, and 93% are unaware of their Brand Image & Presents a contemporary, plant- Leverage existing brand vegan appeal & broader Market Diverse Emphasis on health
daily protein intake requirement Positioning based image equity and trust market market Demands preferences and convenience
Leverage existing customer  Health  Familiar taste &
Marketing & Requires building brand
14.85% $580.73 Mn Advertisement awareness from scratch
base for faster market & ethics mimics traditional
Competition
Quality standards
Differentiation
through features &
penetration focus meat maintenance
CAGR Market Share in pricing
2028 Consumer May take longer to establish a Utilise current consumer  Niche  Targets vegans &
Acquisition customer base and gain trust loyalty for a quicker start audience flexitarians
Leverage supply Capitalize on brand
Internal
Tagline: "From Crave to Care: Competitive Ability to customise message for Capitalise on your brand's We will have a mixture of Capabilities
chain for loyalty, invest in R&D
Meatless by Crave Rich." Advantage plant-based market appeal existence to stand out ingredient quality for innovation
vegan and non-vegan products

Estimated Market Size Target Customers Competitor Analysis Revenue & Cost

Thousands
Flexitarian & Vegetarians Market States of Average ₹16,000
Company SKUs
Market in 2022 Share Operation Price Range
₹12,000
as per case $276.4 Mn Young (Millennials)
TAM Ahimsa Veggie Champ Shami
5% Delhi ₹170-300 ₹8,000
Middle Class & Urban Foods Kebab,Classic Sausage
Tier 1 cities (9.1%) SOM $25.1 Mn
Blue Tribe Chicken nuggets, ₹4,000
Ethical & Health Conscious 2% Tier-1 ₹250-360
Anticipating 1% of Foods chicken keema
SAM
SAM $250.7 K ₹0
Protein Deficient Unmutton keema, Vegan 1 2 3 4 5 6 7 8 9 10 11 12
GoodDot 4% Pan India ₹150-400
Biryani
Months
Value Proposition Imagine Imagine Meats Mutton Revenue Cost (Fixed +Variable)
1% Pan India ₹350-560
Meats kebab, burger patties
Crave Rich Foods' 'Meatless' is your gateway to a delicious, affordable, & sustainable
flexitarian lifestyle. Elevate taste, embrace health, & reduce your ecological footprint” Click here to view Meatless’ advertisement Click here for detailed cost-revenue analysis

Marketing Strategy: Launch and Growth of Label

P re-Laun ch (M on th 1-3) Laun ch (M on th 4-6) Growth (Month 7-12)

W eek 1- 3 W eek 4- 8 W eek 9- 12 W eek 13- 20 W eek 21- 27 W eek 28- 52 Po s t 1 y e a r

• Market Research & • Legal & Licensing • Advertising & promotion • Encourage consumers to try • Expand distribution • Bring about more SKUs • Expand across tier 2
Competitive Analysis • Create brand label name, • Platform strategy for e- the company's products. channels and reach new suiting to the need of the cities
• Category brand extension logo, visual aesthetics commerce & large retail • Generate reviews and markets. consumers • Collaborate with
• Decide to go with both • Target audience selection & chains testimonials for building • Regular tracking of the • Sponsor relevant events and celebrities for Pan-
vegan and non-vegan in focus group experiments for • Decide the pricing basis credibility and take feedback sales across platforms conferences. India promotion
ready-to-cook format the sample product SKU
Problem Statement: Crave Rich Foods, known for its fresh and frozen raw meat and ready-to-cook meat products, is grappling with key decisions: branding strategy, vegan/non-Vegan, Product Focus. We
need to address the dilemmas, craft a comprehensive and adaptive GTM strategy to position Crave Rich Foods as a frontrunner in the evolving landscape of meat analogs.

Market & Industry Analysis Primary & Secondary Data Analysis Dilemma Resolution

• The plant-based meat market is segmented by source into :Soy,

10
Research

~150
wheat, pea protein. Textured Vegetable Protein segment Survey Parameters New Brand Creation Brand Extension
Papers &
dominates in size and growth rate Responses
Journals Brand Image & Presents a contemporary, Leverage existing
• 80% of the population is protein deficient, and 93% are unaware Positioning plant-based image brand equity and trust
of their daily protein intake requirement 70.00%
Leverage existing
14.85% $580.73 Mn 60.00% Marketing & Requires building brand customer base for
CAGR Market Share in 2028 50.00%
Advertisement awareness from scratch faster market
penetration
Key Market Drivers 40.00%
May take longer to Utilise current
Consumer
• Changing consumer preferences • Increasing disposable income
30.00% establish a customer base consumer loyalty for a
Acquisition
and gain trust quicker start
towards meat consumption and rising concern for health 20.00%
• Growing awareness of env. among individuals Ability to customise Capitalise on your
10.00% Competitive
impact of animal agriculture. • Ethical and religious reasons message for plant-based brand's existence to
Advantage
0.00% market appeal stand out
Taste Price Health Envt. Brand Availability Not Tried
Competitor Analysis Benefits Impact Rep.
Growing Health & Niche
Average vegan market ethics focus audience
Market Places of “It doesn’t taste as good as real meat”
Company SKUs Price

Survey Responses
Share Operation
Range
Familiar taste Mainstream
“Quick access to real- Targets
Veggie Champ “Good taste” & mimics appeal &
time capital” vegans &
Shami traditional broader
5% Delhi ₹170-300 flexitarians
Kebab,Classic meat market
Sausage
“Haven’t had the chance to taste plant-based meat but will
buy next time I come across it” We will have a mixture of vegan and non-vegan products
Chicken nuggets,
2% Tier-1 ₹250-360 Raw Meat Ready-to-Cook
chicken keema Parameters
Alternatives Plant-Based
Market Emphasis on health and
Diverse preferences
Unmutton keema, Demands convenience
4% Pan India ₹150-400 Great for health as Typical cooking Soy's presence in plant-
Vegan Biryani
they are free from time is 8 min based meat products Quality standards Differentiation through
Competition
artificial with a shelf life improves water maintenance features & pricing
Imagine Meats preservatives, MSG of 12-14 days absorption, solubility,
– a flavor enhancer, emulsification, viscosity, Leverage supply Capitalize on brand
Mutton kebab, 1% Pan India ₹350-560 Internal
and trans fat anti-oxidation, and chain for ingredient loyalty, invest in R&D for
burger patties Capabilities
texture quality innovation
 Segmentation, Targeting, Positioning Financial Analysis

Geography Demographics Psychographic Behavioural Incremental Analysis Financial Forecast

Particulars Units 2023 2024 2025 2026 2027 2028
Incremental Revenues

Market Size Rs Cr. 2,296.80 2,637.88 3,029.60 3,479.50 3,996.20 4,589.64

CAGR of market % 14.85% 14.85% 14.85% 14.85% 14.85%
Tier 1 % 9.10% 10.92% 13.10% 15.72% 18.87% 22.64%
Estimated Market Size Tier 2 % 20.00% 28.00% 39.20%
Market Share % 0.09% 0.16% 0.26% 0.71% 1.17% 1.86%
Market Share % 0.00% 0.02% 0.04% 0.14% 0.29% 0.56%
Market in 2022 Population distribution Levels Incremental Revenue Rs Cr. 0.10 0.43 1.19 4.97 11.71 25.55
as per case $276.4 Mn
TAM Age (25-34) 17% Incremental Costs
Income 20%
Tier 1 cities (9.1%) SOM $25.1 Mn
Penetration rate 30% Incremental Costs for Quality
- Quality Assurance & Compliance
Anticipating 1% Serviceable Addressable market 1%
SAM $250.7 K Research & Development Rs Cr. 0.40 0.46 0.55 0.69 0.90 1.21
of SAM Growth % 15.00% 20.00% 25.00% 30.00% 35.00%
Intellectual Property Protection Rs Cr. 0.03 0.03 0.03 0.03 0.03 0.03
Target Customers Tagline Employee Contracts and Labor Laws Rs Cr. 0.01 0.01 0.01 0.01 0.01 0.01
Consumer Protection Laws Rs Cr. 0.01 0.01 0.01 0.01 0.01 0.01
“From Crave to Care: Total Incremental Costs for Quality Rs Cr. 0.45 0.66 0.80 0.99 1.24 1.61
Flexitarian & Vegetarians
Meatless by Crave Rich”
Incremental Costs for Identity
Young (Millennials) - Marketing Costs
Value Proposition Growth % 20.00% 25.00% 30.00% 35.00% 40.00%
Youtube Ad Marketing Rs Cr. 0.02 0.03 0.03 0.04 0.06 0.08
Middle Class & Urban Social Media Marketing (including Influencer marketing) Rs Cr. 0.03 0.04 0.05 0.06 0.08 0.12
Crave Rich Foods' 'Meatless' is your Product Sampling & Gamification Strategy Rs Cr. 0.04 0.05 0.06 0.08 0.11 0.15
Ethical & Health Conscious gateway to a delicious, affordable, & Total Incremental Costs for Identity Rs Cr. 0.09 0.11 0.14 0.18 0.25 0.35
sustainable flexitarian lifestyle. Elevate taste,
embrace health, & reduce your ecological Incremental Costs for Manuf. & Distribution
Protein Deficient - Production
footprint”
Growth % 10.00% 15.00% 20.00% 15.00% 10.00%
Raw Material Rs Cr. 0.48 0.53 0.58 0.64 0.70 0.77
0.03
Rs Cr.

Utilities Rs Cr. 0.02 0.03 0.03 0.03 0.04 0.04

0.03
Click here to view Miscellaneous Cost Rs Cr. 0.04 0.04 0.04 0.05 0.05 0.06
Rs Cr. 0.54 0.59 0.65 0.72 0.79 0.87
0.02 Meatless’ advertisement
- Distribution (Retailer)
0.02 Packaging Rs Cr. 0.02 0.03 0.03 0.03 0.04 0.04
0.01 Storage Rs Cr. 0.10 0.11 0.12 0.13 0.14 0.15
Click here for detailed Transportation Rs Cr. 0.02 0.03 0.03 0.03 0.04 0.04
0.01
cost-revenue analysis Rs Cr. 0.14 0.16 0.17 0.19 0.21 0.23
- Total Incremental Costs for Manuf. & Distribution Rs Cr. 0.68 0.75 0.83 0.91 1.00 1.10
2023 2024 2025 2026 2027 2028
Year Total Incremental Costs Rs Cr. 1.22 1.52 1.77 2.08 2.49 3.06
Incremental Revenue Total Incremental Costs Net Profit Incremental Rs Cr. -1.12 -1.09 -0.58 2.89 9.21 22.49
 Go to Market Strategy

Year 1 Year 2

Q3
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

P re-Laun c h (Q 1 – Q3) Laun c h (Q4 – Q1) Growth (Q2 – Q4)

• Approach to resolve • Decide to go with • Advertising & • Launch the product • Work with micro • Expand distribution • Invest in research • Expand across tier
the dilemma both vegan and promotion Platform in tier 1 cities. influencers like channels and and development 2 cities
• Consult with non-vegan in ready- strategy for e- • Gamification FoodDarzee reach new markets to improve product • Collaborate with
professionals for to-cook format. commerce & large strategy for sample • Cross-selling with • Bring more SKUs quality and taste celebrities for Pan-
recommendations • Target audience retail chains products other healthy items • Use loyalty • Develop new and India promotion
• Category brand selection • Decide the pricing • Generate reviews • Partner with programmes to innovative SKUs • Continuously
extension • Create brand label basis SKU and testimonials for restaurants and reward repeat suiting to the need address consumer
name and logo. building credibility cafés to provide our clients. of the consumers feedback and
• Legal & Licensing product preferences

Promotions and Collaborations

Market & Industry Analysis Challenges and Mitigation Strategy Future Goals

• Challenge: high sodium content and more focus on Goal 1

product form and texture
Review cost structures and focus on
Micro Influencers Partner with influencers to create sponsored 01 • Mitigation: Reduce salt content using citrus fibres or profitable SKUs : Analyze all
content featuring the company's products. microsalts and concentrate on protein chemistry and expenses and identify areas for
high-moisture extrusion technologies potential cost reduction.

Develop relationships with foodservice distributors

Local tie ups Goal 2
and restaurants.
• Challenge: High R&D cost to improve taste
Improve supply chain and
02 • Mitigation: Taste is the main reason people don't buy operational efficiencies : Optimize
Social Media Ads Social Media marketing to promote products items, according to market research. We would break sourcing, transportation, and
through targeted ads. even in 3rd year despite considerable R&D spending. storage to reduce lead times and
minimize wastage.

Brand Collaborate with other plant-based brands or

• Challenge: Exponential market growth Goal 3
Partnerships companies with similar values.
03 • Mitigation: Sustainable growth can be achieved by Focus on targeted marketing and
continually reviewing financials, S&M strategies and reassess pricing strategy to improve
Operational efficiencies. market share
 Problem Statement: Crave Rich Foods, known for its fresh and frozen raw meat and ready-to-cook meat products, is grappling with key decisions: branding strategy, vegan/non-Vegan, Product
Focus. We need to address the dilemmas, craft a comprehensive and adaptive GTM strategy to position Crave Rich Foods as a frontrunner in the evolving landscape of meat analogs.
Market Scenario Dilemma Resolution STP GTM Strategy
• Textured Vegetable Protein segment
dominates in size and growth rate Parameters New Brand Creation Brand Extension Vegan Non-Vegan Raw Meat Ready-to-Cook
Parameters
• 80% of the population is protein Alternatives Plant-Based
 Growing  Mainstream
deficient, and 93% are unaware of their Brand Image & Presents a contemporary, plant- Leverage existing brand vegan appeal & broader Market Diverse Emphasis on health
daily protein intake requirement Positioning based image equity and trust market market Demands preferences and convenience
Leverage existing customer  Health  Familiar taste &
Marketing & Requires building brand
14.85% $580.73 Mn Advertisement awareness from scratch
base for faster market & ethics mimics traditional
Competition
Quality standards
Differentiation
through features &
penetration focus meat maintenance
CAGR Market Share in pricing
2028 Consumer May take longer to establish a Utilise current consumer  Niche  Targets vegans &
Acquisition customer base and gain trust loyalty for a quicker start audience flexitarians
Leverage supply Capitalize on brand
Internal
Tagline: "From Crave to Care: Competitive Ability to customise message for Capitalise on your brand's We will have a mixture of Capabilities
chain for loyalty, invest in R&D
Meatless by Crave Rich." Advantage plant-based market appeal existence to stand out ingredient quality for innovation
vegan and non-vegan products

Estimated Market Size Target Customers Competitor Analysis Revenue & Cost

Thousands
Flexitarian & Vegetarians Market States of Average ₹16,000
Company SKUs
Market in 2022 Share Operation Price Range
₹12,000
as per case $276.4 Mn Young (Millennials)
TAM Ahimsa Veggie Champ Shami
5% Delhi ₹170-300 ₹8,000
Middle Class & Urban Foods Kebab,Classic Sausage
Tier 1 cities (9.1%) SOM $25.1 Mn
Blue Tribe Chicken nuggets, ₹4,000
Ethical & Health Conscious 2% Tier-1 ₹250-360
Anticipating 1% of Foods chicken keema
SAM
SAM $250.7 K ₹0
Protein Deficient Unmutton keema, Vegan 1 2 3 4 5 6 7 8 9 10 11 12
GoodDot 4% Pan India ₹150-400
Biryani
Months
Value Proposition Imagine Imagine Meats Mutton Revenue Cost (Fixed +Variable)
1% Pan India ₹350-560
Meats kebab, burger patties
Crave Rich Foods' 'Meatless' is your gateway to a delicious, affordable, & sustainable
flexitarian lifestyle. Elevate taste, embrace health, & reduce your ecological footprint” Click here to view Meatless’ advertisement Click here for detailed cost-revenue analysis

Marketing Strategy: Launch and Growth of Label

P re-Laun ch (M on th 1-3) Laun ch (M on th 4-6) Growth (Month 7-12)

W eek 1- 3 W eek 4- 8 W eek 9- 12 W eek 13- 20 W eek 21- 27 W eek 28- 52 Po s t 1 y e a r

• Market Research & • Legal & Licensing • Advertising & promotion • Encourage consumers to try • Expand distribution • Bring about more SKUs • Expand across tier 2
Competitive Analysis • Create brand label name, • Platform strategy for e- the company's products. channels and reach new suiting to the need of the cities
• Category brand extension logo, visual aesthetics commerce & large retail • Generate reviews and markets. consumers • Collaborate with
• Decide to go with both • Target audience selection & chains testimonials for building • Regular tracking of the • Sponsor relevant events and celebrities for Pan-
vegan and non-vegan in focus group experiments for • Decide the pricing basis credibility and take feedback sales across platforms conferences. India promotion
ready-to-cook format the sample product SKU
 CURRENT
MARKET SCENARIO SCENARIO
IDENTIFICATION OF ISSUES RECOMMENDATIONS IMPLEMENTATION MAP

KEY FACTS PERTAINING TO

FLIPKART & TBBD
666mn 250mn 52% 110 1.5X
Users visited Flipkart Customers reached Customers came Orders were placed Transacting sellers
Sources: Flipkart, Mint on TBBD in 2020 across the nation from Tier 3 cities per second in 2020 over 2019

1 Customer Pain Points 2 Hyper-Segmentation

Word Cloud based on Tweets mentioning TBBD
• Lack of trust & Fear of receiving
Damaged products decreased
consumer confidence
• Late Delivery & Low Quality products
lead to cancellation of orders
• Allegations of Price Hike & False
discount on products made people cite
Flipkart as not credible
• Out of stock products a common
complaint by customers
Building segment specific goals & strategies 4 Market Basket Analysis
Need : Become part of evoked set in purchase
New/ Non decision by introducing them to Flipkart experience
engaged Communication Message : Showcasing the value
customers through affordable deals to increase app downloads
Need : Make Flipkart first choice while looking for
Existing low products online
loyalty Communication Message : Communicating improved
customer experience to enhance engagement
customers
Need : Simulate repurchases to improve customer
Engaged
retention
Communication Message : Personalized communication • Market Basket Analysis helps retailers
customers to strategically place products in the
complemented with strategies like referrals
physical store or place feasible online
recommendations to increase sales
3
• We found Personal Care Products,
Mapping Baby Products, Fitness Supplies are
Customer products which are most commonly
Journey bought together
 ULTIMATE SOLUTION
Objective: Enabling a step change in consumer experience and perception towards Flipkart & TBBD

Phase 1 FLIPKART EXPERIENCE Phase 2 UNIQUELY FOR YOU Phase 3 MY SHOPPING GUIDE

Begin building the exceptional Flipkart experience by Launch across new category segments and develop Develop capabilities to customize products according
promotional activities and immersive advertisements new services and strong supply chain capabilities to the customer's unique lifestyle and needs
The BIG Idea
Customer gets enticed by online shopping experience Pampered by premium experience through new initiatives Personalized products for ultimate shopping experience

1 Flipkart Assistant (FlipHero) Video highlighting Flipkart 2 My Gang 3 Live Counter

Assistant’s Personal Touch
• Available at a premium, the 789710 active
product enables a human users
touch combined with AI 5 Gang Members 7 Challenges 1 Ultimate Prize
power giving the customer
• Across TBBD, website and app
warmth and intelligence they • Flipkart’s My Gang is a quest that runs will
o show fixed KPI’s on -
need across TBBD. Each user can form a gang No. of shoppers online at
of 5 Flipkart users, where 1 user can only the present moment
• The average conversion rate be a part of 1 gang o Top 3 segments sold
for ecommerce globally is o Amount saved till now
4.31% • Gang Milestones will be set, where each o Number of products sold

• member of the gang will receive special

Owning it’s majority reason to shoppers who can’t decide what to buy, or what fits
discounts on achieving the gang • Enabling Vicarious learning, the
them perfectly, a Flipkart assistant aids a customer in choosing the right product
milestone strategy aims to ensure the
unsure customer of trust shown
Personalization Customer Cost User Adaptability Better Engagement Product Guidance • Gangs with the maximum shopping at by Millions of people through
45% users Less by 30% 37% users 3x Likely 5x convenient the end of TBBD will get special prizes standard easy to implement KPIs
 IMPLEMENTATION
Year 1 ROADMAP Year 2
Q1 Q2 Q3 Q4 Q1 Q2 Q3
Q3 Q4

• Approach to resolve • Decide to go with • Launch the product • Gamification • Expand distribution • Bring more SKUs • Invest in research • Expand across tier
the dilemma both vegan and in tier 1cities. strategy for sample channels and reach suiting to the and development 2 cities
• Consult with non-vegan in ready- • Advertising & products new markets need of the to improve product • Collaborate with
professionals for to-cook format. promotion Platform • Generate reviews • Cross-selling with consumers quality and taste celebrities for Pan-
recommendations • Target audience strategy for e- and testimonials for other healthy items • Implement a • Develop new and India promotion
• Category brand selection commerce & large building credibility • Partner with loyalty program to innovative SKUs • Continuously
extension • Create brand label retail chains • Work with micro restaurants and reward repeat suiting to the need address consumer
name and logo. • Decide the pricing influencers like cafés to provide our customers of the consumers feedback and
• Legal & Licensing basis SKU FoodDarzee product preferences

01 01 This is a sample text. Enter your

text here

02 is a sample text. Enter your

This

02
text here

03 This is a sample text. Enter

your text here

04 04 This is a sample text.

Enter your text here

03
 Marketing Strategy: Launch and Growth of Label

P re-Laun ch (M on th 1-3)

Laun ch (M on th 4-6) Growth (Month 7-12)

W eek 1- 3 W eek 4- 8 W eek 9- 12 W eek 13- 20 W eek 21- 27 W eek 28- 52 Po s t 1 y e a r

• Market Research & • Legal & Licensing • Advertising & promotion • Encourage consumers to try • Expand distribution • Bring about more SKUs • Expand across tier 2
Competitive Analysis • Create brand label name, • Platform strategy for e- the company's products. channels and reach new suiting to the need of the cities
• Category brand extension logo, visual aesthetics commerce & large retail • Generate reviews and markets. consumers • Collaborate with
• Decide to go with both • Target audience selection & chains testimonials for building • Regular tracking of the • Sponsor relevant events and celebrities for Pan-
vegan and non-vegan in focus group experiments for • Decide the pricing basis credibility and take feedback sales across platforms conferences. India promotion
ready-to-cook format the sample product SKU
Embedded Finance, teeming with endless possibilities, is transforming the way financial services are being
consumed, creating pivotal opportunity for NatWest to pioneer financial evolution & championing potential
EmFi Architecture BENEFITS
Of respondents (EY survey) believe that the key to

94% CUSTOMERS • Reduced Time • Streamlined User

success of a financial product is its relevance in Value Value and Effort Experience
addressing customers’ real-time needs
Chain Web
Embedded Finance Offering • Broadened • Increased

$ 7Tn
1
By 2026, the transactions value of Embedded Front-end Integration Offerings Revenue
finance, in the US alone, will reach close to
2 Middleware Provider • Reach New • Expand Product
Of institutions, in a Finastra survey, agree that Banking Capability Stack- Data, Tech., API Verticals Offerings

83% as a Service (BaaS) and Embedded Finance are already

demanded by customers 3
Underlying Financial Institution
Regulatory Lic., Risk Management
4x Lesser CoA
than E-commerce
30x Lesser CoA
than Retail

Embedded-Finance offerings across industries

High
“Reduces carbon footprint, “Want to educate

Insurance
Payments
and negative impact on importance of bite sized

Personal
4

Lending

Finance

Scoring
Expert

Wallets

Border
Digital

Credit
environment” financing decisions”

Cross
Business

ESG

Market Opportunity
Interviews
Owners

Marketplaces
“Enables us to build stronger “Quick access to real-time eComm./Retail
Customers

customer relations” capital”

8 Research
Papers
“While buying car, I get access
to insurance, EMI and BNPL
“Want to be more informed
about my payment decisions”
Logistics

Telecom/Media

Manufacturing

7 Annual now; it would be great to have

the same experience in fashion, “I like to be aligned to ESG Hospitality
Reports Retail
and inclusivity”

Low
e-Commerce and travel. ”
Customers Energy

KEY FOCUS
NATWEST VISION

AREAS
We remove barriers to create
62%
of customers want their bank to help

SUCCESS STORY
strong enterprises. We turn
ambition into action to help
CLIMATE them reduce their carbon footprint X
tackle climate change. ENTERPRISE 26% ofcaptured
global SME banking market could be
by Embedded Finance by 2025 Developed the world's ATTRACTED
300,000+
And we build financial capability first carbon tracker
through learning. LEARNING 33% ofliterate
world population are financially fully integrated into a
banking app
USERS
IN FIRST 9
Anchoring NatWest’s vision, capabilities and evergreen market metrics, determined 5 market winners which are
driving value in established markets, with potential to rally growth in emerging geographies
CUSTOMERS/ STRATEGIC SELECTED IN TOP
START-UP WHAT IT DOES FUNDING GEOGRAPHY
USERS ALIGNMENT 1 5

Estimate Carbon Emission for specific United States, United

$81.5M+
transactions and take action to neutralize 400+ partners Kingdom, Canada, HIGH SELE
emissions (Series B) Australia

Track carbon credit ratings and de-risk

$95.3M+
investment strategies from emerging climate 100+ companies United Kingdom HIGH SELE
CLIMATE risks (Series B)

Renewable Energy as a subscription Service-

$7.6M+
Provides a flexible financing solution that 35+ energy providers Europe LOW REJE
allows to rent renewable tech (Pre-seed)

Provides revenue-share financing to e-

$858.6M+ United States, Canada,
commerce companies embedded directly into 10,000+ businesses HIGH SELE
their platforms. Helps D2C startups. (Series D) United Kingdom

Integrated Business travel and expense United States, United

$2.2B+
solutions to empower employees to book and 9000+ companies Kingdom, Europe & HIGH SELE
ENTERPRISE manage travels with ease (Series G) India

Procure-to-pay spend management solution

$251.5M+
that provides companies visibility and control 10,000+ customers United States MEDIUM REJE
on their money spent (Series B)

Offers AI Powered financial advising

$72M+
embedded in workplace benefit platforms. 10,000+ customers United States, Canada MEDIUM REJE
Helps employees with financial wellness. (Series B)

Offers Budgeting, Financial Advice and

$174M+ United States, United
Automatic savings, based on income & 5 million+ users HIGH SELE
spending, embedded in banking apps (Series C) Kingdom
LEARNING
Analyzes Income and spending patterns to
$766.1M+
automatically save and invest money. 2 million+ users United States MEDIUM REJE
Provides savings as a service via API (IPO)
1
Detailed Strategic Alignment Analysis (Annexure-I)
Microscopic analysis revealed robust insights, echoing how Patch, Sylvera, ClearBanc, Navan and Albert are
positioned to dominate their respective markets, awaiting a perfect synergy with NatWest
Technology platform that focuses on U.K based carbon data fintech that provides
3.1Bn 25K+ automating climate action for organizations to
help them meet sustainability goals
insights to de-risk their carbon offsetting
strategies
Total funding Corporate & funded
received clients in total Funds

50+ 3x Customer Spending

Real-time carbon
tracking & offset Track climate risk Carbon score

Markets served
across 4 continents
Growth on average
for clients or self 2.7K+ 400+ 160+ 7.5K+ 13x 50K+
Ton Carbon Removals Sold Clients Climate projects Carbon projects More accurate Ha. land mapped

40 Mn 30 +
Direct or indirect end Global awards & Member of the 28th Conference of Parties, working with Awarded “Product Innovation of the Year” for Carbon
consumers recognitions received UNFCCC to develop a new carbon offset standard. Credit Analytics by Environmental Finance in2023

Also known as ClearCo, provides growth U.K based unicorn that provides corporate card FinTech aiming to democratize money
finance to small businesses as an alternative to management to automate manual processes and management by making financial advice
traditional loans. drive spend visibility. accessible and affordable.

Single Charge Fee Premium subscription for services Investing

Savings
SMEs Travel & Expense Track real-time Budgeting
Funds Management reimbursements Millennials Simple advices + Actions

$2.5Bn 10K+ 8x $9.3B 6.3K+ 40+ 55K+ $1Bn+

To eComm. startups valuation Corporate customers Markets presence ATM network In total savings
5Mn+
Business funded Growth in funded cos.

Customers

 Worlds largest eCommerce funding provider Awarded “Best Company Outlook 2023” and ranked 11 th in  Awarded ‘Start-up with impact’
 Deloitte's #Fast50 Canada and #Fast500 North America the eighth annual “The Cloud 100” list  Highest customers on a learning-cum-action FinTech
A robust evaluation framework encompassing 8 pillars of business leadership, is critical for thoroughly assessing
potential partners to identify pathways to enable seamless integration
Analytic Hierarchy Process (AHP) framework used to devise Qualitative analysis carried to evaluate Quantitative analysis carried to
weightages for below multicriteria decision parameters this parameter evaluate this parameter

How well the Start-up's offerings align with What is the total market size & growth
Strategic Market
Alignment
NatWest's goals and vision for Embedded
Finance?
20% Traction
potential for Start-up's products and 20%
segments?

Fit with NatWest's

Fit of Startup's capabilities Potential to jointly develop Total customer accounts Year-over-year customer Percentage of market share
embedded fin. vision &
to NatWest's customer new products, services acquired by the Startup account growth in segments served
objective

Technology How scalable, secure and compatible is the Risk & How strong is network’s infrastructure to
Infrastructure start-up's technical architecture? 15% Controls avoid and mitigate cyber risks? 15%
Open API availability,
Cloud-based, scalable & Security audit ratings and Security and compliance Data protection and privacy Cybersecurity preparedness
documentation &
secure architecture certifications audit ratings controls & fraud prevention
capabilities

Regulatory How familiar is the startup with financial Financial Does the start-up have strong revenue
Compliance regulations and compliance? - Stability streams, profitability, funding and growth? 15%
Revenue growth and Burn rate and unit
Certified compliance with Tenure operating in Advisory board expertise in Capital raised and cash
profitability and resource economics trends since
industry regulations regulated fintech sectors compliance runway in future
allocation starting-up

How does the start-up differentiate from

Growth & Management Does the start-up have an experienced,
Competition
competitors? What are its growth levers,
unique propositions?
15% Team proven team with a track record in fintech? -
Growth vs. sustainable Executive team turnover
Position in the specific Market share as compared Growth rate & unique Advisors and investor
orientation and industry rate and pedigree of top
serviceable market to competitors position w.r.t. competitors expertise/network
knowledge participation management
Marinating qualitative insights with quantitative data established the perfect framework to identify and focus on
priorities of integration, rationalising decision factors
RANKING 1st 3rd 4th 2nd 5th

10/10 09/10 09/10 10/10 08/10

Strategic Fits with climate action objective; Helps customers make climate Ability to cater a wide set of This will foster to build financial
Helps to create a seamless digital
Alignment can be integrated into NatWest’s positive investments via Carbon growing e-commerce startups
experience for the cardholders
capability and resilience among
existing offerings Credit Ratings globally consumers

10/10 10/10 08/10 10/10 08/10

Technology They have built Carbon OS Offers cutting edge technology AI compatible platform and Employs AI powered insights
Spends huge amount on Cloud
Infrastructure platform to bring efficiency in with leading carbon measurement
and Data Center IT Infrastructure
leverages cloud infrastructure to engine into behavior, trends and
operations methodologies host T&E system transaction patterns

10/10 08/10 08/10 09/10 07/10

Consistently review risk and
Risk and Controls
control measures to vet the
climate action projects.
Carbon credit rating via
performance, additionality, co-
benefits & permanence
Proprietary credit risk model to Utilizes industry-standard
Leverages 360-degree approach
encryption algorithms to protect
assess the creditworthiness of its
to maintain mutual trust and care
borrowers data from unauthorized access

10/10 09/10 09/10 10/10 07/10

Grew revenue by 133% in 2023 Revenue grew over 25% in the Not revealed exact growth but Expected to achieve an annual Stagnating growth as personal
Growth Potential finance app market is a bit
through their unique offering year 2023 due to rise in carbon established rapid footing in revenue of $1Bn by 2024 from
Patch API risk tracking of projects. ecommerce financing. $300Mn in 2022 towards saturation

09/10 09/10 10/10 10/10 09/10

Raised over $80Mn and rounds Raised $95.3Mn so far. Investors Raised over $850Mn in equity and Raised $2.2Bn via equity and Raised $175.6Mn through equity,
Financial Stability funded by CapitalG, General
led by Energize Ventures, Coatue include Balderton Capital, Index debt. Funded by Inovia Capital, debt financing from Goldman
Mgmt. and more Ventures Intuit and more Sachs USA, Coatue, etc. Atlantic and more

10/10 09/10 09/10 09/10 08/10

Access to in-depth analysis of Funded with working capital to Serves more than 9000+ Over 5,000,000+ app users but
Market Traction Integration with 400+ businesses
1400+ companies across 70+ over 10,000+ e-commerce businesses globally and have faces a knack of competition in
and 160+ climate projects
industries. platforms collaborated with Citi recently the market

Weighted Score 9.85 9 8.85 9.65 7.85

Crafting mutually beneficial partnership strategy along with a strong and agile architecture, is the secret sauce to
success in Em-Fi industry creating unique and great user experiences
PARTNERSHIP STRATEGY AND IMPLEMENTATION Key Success Indicators

 Total Carbon Offset (Ton)

Strategic  Total Customers Impacted
API Estimating carbon  TotalbyCarbon Credits Sold
Offset emissions
Integrate Patch API into
Integration digital platform of NatWest
footprint of spendings on contributing towards
(Ref. Annexure- II) the NatWest app climate action projects

 Total Rated Firms

Technology
Integrate Carbon Credit
Integration
Analytics API into
NatWest’s ecosystem
Monitor portfolio
companies’ carbon credit
activities/risks
 Total Strategies Recommended
 Total Customers Onboarded
Undertake portfolio
adjustments as per
recommended strategies.

 Total Firms Funded

 Return on Investments
Co-Branding  Avg. Growth of Funded Startups
Integrate Clear- Banc’s Securely sync the funding Develop strategies to manage
Partnership platform in NatWest data and estimate fund invoice payments from
banking platform capacity funded firms

 Total Customers Reached

Affiliate  % Payment Efficiency Improvement
Marketing Incorporate card-link Companies will be able to
 Avg. Reduction
Real-time visibility into in Travel Spending
Partnership technology with Navan keep all benefits of existing expenses along with
Connect program employee spendings

 Total Financial Wellness Interaction

 Growth in Total Savings and Investments
Strategic AI  Additional Customers Intervened
Integrate Albert’s AI Analyze the aggregated data Provide personalized
Collaboration solution “Genius” into to identify trends and recommendations and insights
NatWest ecosystem anomalies on savings
Services built around the core product offering continues the positive customer experience, enhancing Natwest’s
position as the relationship bank of present and the future generation

Ability to cater &

Competitive advantage Enhanced customer Distinguished offerings in Delivering holistic solution
strengthen relationship
and accelerate actions to engagement and improved the market and increased to foster financial well-
Value Proposition

with wider set of e-

achieve net zero faster CSR activities customer retention being of customers
commerce players

Access to a larger Strengthen brand Increased access to capital Expanded market reach and Increased user
Startup customer base through positioning and expanded and other banking thereby, increased market engagement and access to a
NatWest’s existing network customer reach capabilities share wider customer base

One stop platform to Risk mitigation and Easier access of funds and Streamlined travel & Comprehensive financial
Customers manage finances as well as improved performance due financial services at a single expense management and wellness and savings
sustainability goals to resilient portfolio platform improved visibility integration

CLIMATE ENTERPRISE LEARNING

Impact

450K+ 4.7T+ 10K+(20%↑) 20% 1Mn+ $3700

customers access our average carbon businesses/individuals youth intervened financial capability average increase in
carbon tracking tools offset by a customer support through businesses support interactions with retail savings by a retail
for the 1st year annually enterprise program through enterprise customers to be delivered customer per year
within a year
 Indian Institute of Management
Lucknow

NatWest
Group

Thank You
TEAM HELLEVATORS

RAJESH KUMAR RAKSHITA AGARWAL ABHISHEK SINGH

Accenture S&C, SAIL Citibank CRISIL, Godrej
ANNEXURES
 (ANNEXURE – I)
STRATEGIC ALIGNMENT DETAILED ANALYSIS
CLEARBAN
PATCH SYLVERA CLOOVER NAVAN AIRBASE ORIGIN ALBERT OPORTUN
C
Does the startup have a proven and
innovative embedded finance Yes Yes Yes Yes Yes Yes Yes Yes Yes
technology?
Does the startup have experience
working with banks or financial Yes Yes No Yes Yes No No No No
institutions?
Does the startup have a solid business
model and plan for scaling? Yes No Yes No Yes No No Yes No

Is the startup open to partnership and

willing to customize solutions? Yes Yes No Yes Yes Yes Yes Yes Yes

Does the startup fill a gap in NatWest's

current embedded finance offerings? Yes Yes Yes Yes Yes No Yes Yes Yes

Does the startup have positive customer

reviews and traction? Yes Yes No Yes Yes Yes No Yes Yes

Is the startup financially stable and able

to meet compliance requirements? Yes Yes No Yes Yes Yes No Yes Yes

Does the startup share similar values to

NatWest around innovation and Yes Yes Yes Yes Yes Yes Yes Yes No
customer experience?
Can the startup seamlessly integrate
with NatWest's existing systems and Yes Yes Yes Yes Yes Yes Yes Yes No
technology?
STRATEGIC ALIGNMENT
SCORE 10/10 9/10 4/10 9/10 10/10 6/10 5/10 8/10 5/10
 (ANNEXURE – II)
APP MOCKUP - PATCH

CHECK PROGRESS

SELECT A PROJECT DOWNLOAD

CERTIFICATE

ESTIMATE CONTRIBUTE EDUCATE CERTIFY

Estimate the carbon emissions for Enable customers to take climate Educate customers about action Provide dynamic purchase certificates
specific transactions via API action right from app taken by showing project details to those who contribute
Effective partnership strategy along with a strong and agile architecture, is the secret sauce to success in Em-Fi
industry creating unique value propositions for all 3 user groups
PARTNERSHIP STRATEGY AND VALUE PROPOSITION FOR STAKEHOLDERS

START-UP
Affiliate Marketing Partnership
Strategic API Integration Technical Integration Co-Branding Partnership Strategic AI Collaboration

Integrate Patch API into digital Integrate Carbon Credit Analytics Onboard ClearBanc’s platform into Incorporate card-link technology Integrate Albert’s AI solution Genius
platform of NatWest API into NatWest’s ecosystem NatWest's banking platform with Navan Connect into ecosystem

Partnership Strategy
(Value Chain) Estimating carbon footprint and Monitor portfolio companies’ Securely sync the data and estimate Companies will be able to keep all Analyze the aggregated data to
offset with Patch Purchase. carbon credit activities fund capacity benefits of existing program identify trends and anomalies.

Opportunity to contribute towards Undertake portfolio adjustments as Develop strategies to manage Real-time visibility into expenses Provide personalized
climate action projects per recommended strategies. invoice payments along with employee spend recommendations and insights

VALUE PROPOSITION

Competitive advantage and Ability to cater & strengthen Distinguished offerings in the Delivering holistic solution to
Enhanced customer engagement
accelerate actions to achieve relationship with wider set of market and increased customer foster financial well-being of
and improved CSR activities
net zero faster e-commerce players retention customers

Access to a larger customer Expanded market reach and Increased user engagement
Strengthen brand positioning Increased access to capital and
Startup base through NatWest’s existing
and expanded customer reach other banking capabilities
thereby, increased market and access to a wider customer
network share base

One stop platform to manage Risk mitigation and improved Easier access of funds and Streamlined travel & expense Comprehensive financial
Customers finances as well as performance due to resilient financial services at a single management and improved wellness and savings
sustainability goals portfolio platform visibility integration
 1. ROI
2. Type of Partnership

Of respondents to an EY survey believe the key to

success is the relevance of a financial product in
addressing customers’ real-time needs
Consumer payments account for more than
60% of all embedded finance transactions.

EmFi is Shifting the value web
Fin. services value chains are
evolving into non-linear “value
webs”, where multiple players are
contributing value simultaneously
(vs sequentially) to bring a product
to the end consumer.
Strategies of Partnership
Strategies of Partnership

83% of institutions
agree that banking
as a service and
EmFi are already
demanded by
customers
Detailed analysis 3/5

U.K based fintech that provides finance for

small businesses as an alternative to a
traditional bank loan or extended overdraft.

Payment as %
of Revenue
E-Commerce Acquirers

SMEs

Neobanks Brokers

Funds

Provides a flexible embedded finance platform and

financial solutions to offer hyper-personalized and
accessible funding, empowering their small business
customers to grow their revenues.

Major Partners

55K+ $1B+ 300+

Transactions Funding Delivered Partners

Surpassed £500m in funding

Supported by the UK Government backed BBIA & is
the only embedded finance provider with a proven
track record across 3 continents
Detailed analysis 3/5

Technology platform that focuses on automating Strategic API Integration

climate action for organizations to help them meet
sustainability goals.

2.5T 400+ 160+

CO2 emitted Partners Climate projects Delivering real-time
Integrate Patch Highlight offset
API into digital carbon footprint and efforts, issue
platforms of offset emission with certificates for
7,503 steps +3 NatWest carbon credit contribution
purchase.
10,323 steps +5
Raised $55m in the latest funding round
35 mins high intensity workout +5

Member of the 28th Conference of Parties, working Contribute Educate via

Gold’s Gym Visit +5 Estimate via
with UNFCCC to develop a new carbon offset via Patch Patch
Patch API
standard. 13,219 steps +8
Purchase Offtake

U.K based fintech that provides finance for small

Co-Branding Partnership
businesses as an alternative to a traditional bank
loan or extended overdraft.

Payment as % of Revenue

SMEs Integrate Liberis' Develop, customize & Offer preferential terms

Funds platform into NatWest's promote specific lending for NatWest business
banking ecosystem products for SME & customers using Liberis
55K+ $1B+ 300+ brokers

Transactions Funding Delivered Partners

Leverage Liberis to Cater to wider audience Strengthen
Surpassed £500m in funding offer revenue finance set including brokers, relationships with
services to SMEs acquirers Ecommerce small business
Supported by the UK Government backed BBIA & is with as little as players and Neo banks customers
the only embedded finance provider with a proven single APIs
track record across 3 continents
Energy
Hospitality
LOGISTICS

Telcom/Media

Manufacturing
E-COMMERCE/RETAIL

Payments

Digital Wallets

Lending

Insurance

Personal/Inclusion

Credit Scoring

Cross Border

ESG