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Faye’s $10M Series A Pitch Deck Teardown: A Comprehensive Analysis
A year ago, Mike Butcher reported that Faye hopes to do for travel insurance what Lemonade did for general insurance, and that’s as good a summary of what Faye does as anything. The company was kind enough to share its (lightly redacted) pitch deck with me so I could take a look under the hood to see the narrative it wove to close its $10 million.
We’re looking for more unique pitch decks to tear down, so if you want to submit your own, here’s how you can do that.
Overview of the Pitch Deck
Faye’s pitch deck for its Series A round consists of 19 slides, with some redacted information for sensitive data. Below are the slides:
- Cover slide
- Summary slide
- Team slide
- Problem slide
- Market-size slide
- Insurance market overview slide
- Product overview slide
- Product features slide 1
- Product features slide 2
- Product features slide 3
- Product features slide 4
- Go-to-market slide
- Financial growth metrics slide
- Customer growth metrics slide
- Customer validation slide 1
- Competitive landscape slide
- The Ask slide
- Customer validation slide 2
- Closing slide with mission statement
Three Things to Love About Faye’s Pitch Deck
Here are three things that make Faye’s pitch deck stand out:
1. Love a Good Summary Slide
The cover and summary slides set the context for the rest of the conversation, and Faye did a great job with showing how a good, concise slide can set the pace. The company mentions traction ($M in sales) and market penetration (available in 48 states), along with the market size and market growth rate. These four figures paint a picture that presents a pretty compelling investment opportunity.
2. Great Storytelling on the Market-size Slide
Market-sizing slides can be tricky to pull off, but Faye managed to create a rare example that also provides the rest of the context. It shows that there’s a great opportunity available right now and that the opportunity could grow further. This slide teaches us that you can tell a comprehensive story without muddling the message.
3. Intermarket Comparison
Faye is targeting travel insurance, using some adjacent markets (car and home insurance) as comparisons to show that travel insurance is a better opportunity. This is a really good approach to positioning the market and Faye within it.
Things That Could Be Improved
While Faye’s pitch deck is excellent overall, here are three ways the company could improve its pitch deck:
1. Team Slide
The team slide could do with a bit of love. It’s important to convey not only the experience of the team, but also their passion for and commitment to the company’s mission.
2. Bring Data to Life
Faye could benefit from bringing data to life, making it more visually appealing and/or memorable. Consider using charts, graphs, or infographics to help the audience better connect with the information being presented.
3. Narrative Flow
While the narrative flow of Faye’s pitch deck is good overall, the pitch could be further improved by creating a stronger narrative arc. Think about the story that Faye is trying to tell and how the different slides can support that narrative. Make sure the message is clear and memorable.
FAQs About Faye’s Pitch Deck
What is Faye?
Faye is a startup that hopes to disrupt the travel insurance market, much like Lemonade did for general insurance.
What key slides should a pitch deck include?
A pitch deck should include a cover slide, summary slide, team slide, problem slide, market-size slide, product overview slide, go-to-market slide, financial and customer growth metrics slides, competitive landscape slide, and closing slide with a mission statement.
What makes a good summary slide?
A good summary slide should set the context for the rest of the conversation by providing key figures such as traction, market penetration, market size, and market growth rate. It should succinctly convey the company’s value proposition.
What is important to include in a team slide?
A team slide should convey not only the experience of the team, but also their passion for and commitment to the company’s mission. It’s important to build trust with investors by highlighting the team’s expertise and track record.
Conclusion
Faye’s pitch deck for its Series A round is an excellent example of how to distill a potentially complex story into an easy-to-follow narrative. The company’s storytelling is strong, especially on the market-size slide and intermarket comparison slide. While there are areas for improvement, such as the team slide and narrative flow, overall the pitch deck is well-done and a great example for startups to learn from.
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