Why did Modulr omit a team slide in their Series A deck?

At the Series A stage, especially for a company raising $108M, the team is often already well-known to lead investors or has been vetted through previous rounds. Modulr likely chose to focus the limited real estate of an 11-slide deck on their massive transaction growth and regulatory moats, which are more critical for infrastructure-level FinTech plays where reliability and scale are the primary concerns.

What is a 'FinOps hub' and why did Modulr use this term?

Modulr coined 'FinOps hub' to differentiate itself from 'PayFacs' or simple gateways. By slide 6, they explain this includes accounts, A2A payments, card issuing, and open banking. This positioning helps them move up the value chain, targeting enterprises that need to build complex money flows rather than just 'accepting payments' at a checkout counter.

How does Modulr use regulatory compliance as a selling point?

On slide 8, Modulr argues that 'regulatory excellence' is the only way to win enterprise customers. They highlight memberships in the NCA, UK Finance, and the Emerging Payments Association. By showing a direct connection to the Bank of England, they position themselves as a secure, bank-grade alternative to legacy systems that is still agile enough for modern FinTechs.

Is the market size on slide 10 realistic?

Modulr uses a $2.1 trillion Global TAM, which is a standard figure for total payment revenues. However, they provide credibility by narrowing this down to a $50 billion European SAM (Serviceable Available Market) by 2025. This narrowing shows investors they have a focused, achievable path to capturing a specific, high-value segment of the broader market.

What metrics are most prominent in this deck?

The most prominent metric is the 105% year-on-year growth in annualised transaction revenue shown on slide 9. They also highlight 'high net retention rates' on slide 6 and a specific efficiency metric on slide 7: reducing the time to go live with payments from 1 year (legacy) to just 8 weeks (Modulr).

Modulr Pitch Deck (2022): 11-Slide Series A Deck

See all 11 slides of the Modulr pitch deck — a 2022 Series A deck — with a slide-by-slide teardown of what the deck does well and where it falls short.

Modulr's 2022 Series A deck is a masterclass in category creation and strategic positioning. The company raised $108M by framing the problem as a systemic failure of traditional banking infrastructure rather than a lack of features. They introduced the term 'FinOps hub' to differentiate their offering from standard payment gateways, explicitly stating they do not compete with giants like PayPal or Adyen. The deck leans heavily on regulatory excellence as a moat, citing direct connections to the Bank of England. While it lacks a traditional team slide or detailed unit economics, the sheer scal…

Key takeaways

The deck positions the problem as a systemic 'underinvestment in innovation' by traditional banks on slide 2.
Modulr defines a new category called the 'modern FinOps hub' to avoid direct comparison with consumer payment giants on slide 6.
Regulatory excellence is presented as a core competitive moat, including a direct connection to the Bank of England on slide 8.
The company demonstrates massive scale with a 105% year-on-year growth in annualised transaction revenue on slide 9.
Market sizing uses a top-down approach, identifying a $2.1 trillion Global TAM and a $50 billion European SAM for 2025 on slide 10.
The deck explicitly lists companies they do not compete with, such as PayPal, Square, and Klarna, to clarify their B2B infrastructure focus on slide 6.
Operational outcomes are quantified, such as reducing payment go-live times from 1 year to 8 weeks on slide 7.
The deck completely omits a team slide, a detailed breakdown of the 'Ask', and specific unit economics like CAC or LTV.

The Strategy of Category Creation

Modulr’s Series A deck is a concise 11-slide presentation that focuses heavily on institutional credibility and infrastructure scale. Raising $108M in 2022, a year of significant market transition, required more than just a growth chart; it required a narrative of inevitability. Modulr achieves this by framing the entire traditional banking sector as obsolete for the needs of modern digital businesses. The deck does not just pitch a product; it pitches a new layer of the financial stack.

Slide 1: The Power of Social Proof

The title slide forgoes a standard mission statement in favor of a logo cloud. By stating "Payments. Designed by our customers. Powered by Modulr," the company immediately establishes itself as an invisible but essential infrastructure provider. The logos featured include high-profile FinTechs and established brands like Revolut, Sage, Iwoca, and Salary Finance . This establishes immediate trust; if Revolut relies on them, the technology is clearly enterprise-ready.

Slide 2: Systemic Problem Framing

Slide 2 identifies the pressures on digital businesses. Rather than focusing on small bugs or high fees, Modulr points to "Underinvestment & low digital capability in banking services" and "Complex infrastructure & regulation" as the primary barriers. They characterize the current state as a "Lack of innovation" and a "Lack of investment" by banks that control the market. This positions Modulr as the solution to a systemic industry failure, making their growth seem like a natural market correction.

Slide 3 & 4: Identifying Hidden Inefficiencies

Slide 3 uses a flowchart to visualize "hidden inefficiencies" such as manual data entry and slow reconciliation. They label these processes as "Slow, tedious, error-prone processing." Slide 4 then presents the counter-narrative: "Forward thinkers can seize a competitive advantage." This transition moves the conversation from a technical problem to a strategic business opportunity. The goal here is to convince the investor that Modulr isn't just a cost-saver, but a revenue-enabler.

Slide 5: Legacy vs. Modern Infrastructure

This slide uses a side-by-side comparison. On the left, "Legacy bank payment systems" are shown as a tangled web of errors, limited functionality, and licensing hurdles. On the right, "Embedded digital payments" are depicted as a clean, modular, and interconnected system. The keywords here are "Quick," "Easy," and "Better functionality." It is a classic 'before and after' visualization designed to make the legacy way look indefensible.

Slide 6: Defining the FinOps Hub

This is the most critical slide in the deck for positioning. Modulr introduces the term "modern FinOps hub." They list their core capabilities: Accounts, A2A Payments, Card issuing, Direct debit, and Open banking. Crucially, the right side of the slide features a large 'X' over "E-commerce payment acceptance" and "Physical PoS payments." They explicitly state: "We don't compete with PayPal, Worldpay, Adyen, Square, Klarna..." By doing this, they exit a crowded, price-sensitive red ocean and define their own blue ocean in B2B financial operations infrastructure. They also mention that revenue is driven by "recurring transaction revenue with high net retention rates."

Slide 7: Quantifying Outcomes

Slide 7 moves from abstract concepts to concrete business results. They list "Example Outcomes" such as "Lower call centre volumes," "Salaries no longer paid into wrong accounts," and "Stickier customers." The most impactful metric on this slide is the speed to market: "Faster Payments go-live 8 weeks vs. 1 year." This 6x improvement in deployment time is a compelling reason for any enterprise to switch providers.

Slide 8: The Regulatory Moat

In FinTech, regulation is often seen as a hurdle. Modulr frames it as a competitive advantage. Slide 8 claims that "regulatory excellence" allows them to win enterprise customers. They highlight their direct connection to the Bank of England and their involvement in various regulatory bodies like the NCA (National Crime Agency) and the Fraud Working Group . This slide is designed to de-risk the investment by showing that Modulr is a deeply integrated, compliant, and permanent fixture of the UK financial landscape.

Slide 9: The Growth Inflection Point

The traction slide shows a bar chart of "Annualised Transaction Volume (m)" from Q3 2016 to Q4 2021. The growth curve is classic 'hockey stick' shape, with a notable acceleration starting in 2019. The headline metric is "+105% year-on-year growth in annualised transaction revenue." This slide proves that the 'FinOps hub' concept has found massive market fit and is scaling rapidly.

Slide 10: Market Sizing (TAM/SAM)

The final content slide uses a concentric circle diagram to show market opportunity. They cite a "$2,122bn Global TAM" based on BCG Global Payments 2021 data. They then narrow this down to a "$307bn European TAM" and finally a "~$50bn European SAM (2025)." By providing a specific SAM for their target verticals in the UK and Europe, they demonstrate a realistic and data-driven understanding of their immediate growth ceiling.

What Modulr Does Well

The deck excels at strategic exclusion . By explicitly naming the companies they do not compete with (Adyen, Stripe, PayPal), they prevent investors from benchmarking them against lower-margin payment processors. This allows them to justify a higher valuation based on their role as a 'hub' rather than a 'utility.' Furthermore, the emphasis on regulatory status as a 'moat' is a sophisticated way to handle the compliance-heavy nature of FinTech, turning a potential liability into a core asset.

What is Missing from the Deck

The most glaring omission is a Team Slide . While the company was well-established by 2022, a Series A deck typically highlights the pedigree of the founders and key hires. There is also no Unit Economics slide; while they mention high net retention, they do not provide specific figures for Customer Acquisition Cost (CAC) or Lifetime Value (LTV). Finally, the "Ask" is missing from the slides. While we know from catalogue facts that they raised $108M, the deck itself does not specify how much they were seeking or how they intended to deploy the capital (e.g., geographic expansion vs. product R&D).

Founder's Takeaway: Copy the Positioning

Founders in crowded markets should study Slide 6. If you are entering a space with giants, do not try to be 'a better version' of the leader. Instead, define a new category that makes the leader irrelevant to your specific target audience. Modulr didn't try to be a better PayPal; they became a 'FinOps hub.' This shift in language changes the entire investor conversation from 'how will you beat the incumbent?' to 'how fast can you own this new category?'

Frequently asked questions

Why did Modulr omit a team slide in their Series A deck?: At the Series A stage, especially for a company raising $108M, the team is often already well-known to lead investors or has been vetted through previous rounds. Modulr likely chose to focus the limited real estate of an 11-slide deck on their massive transaction growth and regulatory moats, which are more critical for infrastructure-level FinTech plays where reliability and scale are the primary concerns.
What is a 'FinOps hub' and why did Modulr use this term?: Modulr coined 'FinOps hub' to differentiate itself from 'PayFacs' or simple gateways. By slide 6, they explain this includes accounts, A2A payments, card issuing, and open banking. This positioning helps them move up the value chain, targeting enterprises that need to build complex money flows rather than just 'accepting payments' at a checkout counter.
How does Modulr use regulatory compliance as a selling point?: On slide 8, Modulr argues that 'regulatory excellence' is the only way to win enterprise customers. They highlight memberships in the NCA, UK Finance, and the Emerging Payments Association. By showing a direct connection to the Bank of England, they position themselves as a secure, bank-grade alternative to legacy systems that is still agile enough for modern FinTechs.
Is the market size on slide 10 realistic?: Modulr uses a $2.1 trillion Global TAM, which is a standard figure for total payment revenues. However, they provide credibility by narrowing this down to a $50 billion European SAM (Serviceable Available Market) by 2025. This narrowing shows investors they have a focused, achievable path to capturing a specific, high-value segment of the broader market.
What metrics are most prominent in this deck?: The most prominent metric is the 105% year-on-year growth in annualised transaction revenue shown on slide 9. They also highlight 'high net retention rates' on slide 6 and a specific efficiency metric on slide 7: reducing the time to go live with payments from 1 year (legacy) to just 8 weeks (Modulr).

Cover slide of the Modulr pitch deck — Series A 2022 — Modulr pitch deck, slide 1 (2022)

Modulr pitch deck: the facts

Company: Modulr
Year: 2022
Stage: Series A
Slides: 11
Sector: FinTech, SaaS
Deck type: Fundraising
Outcome: $108M Raised
Headquarters: United Kingdom

Modulr pitch deck PDF

The full Modulr deck is embedded on this page and can be read slide by slide in the browser — no download or account required. Each slide is covered in the breakdown above.

What the Modulr pitch deck was used for

This deck is a 2022 fundraising presentation by Modulr, a London-based embedded payments / Payments-as-a-Service platform that brands itself as a modern FinOps hub for enterprises and fintechs. The deck, comprised of 11 slides, was used in connection with a $108M funding round that external sources identify as Modulr’s Series C in May 2022 led by General Atlantic. The slides position Modulr not as a consumer-facing payments app but as regulated B2B payments infrastructure, enabling customers to build, scale, operate, and control business money flows via APIs. The Failory-style writeup and other deck analyses describe this as a category-creation deck that reframes Modulr as a FinOps hub rather than a simple payment processor, with a strong emphasis on regulatory excellence and enterprise volume.

Business model: Embedded payments / Payments-as-a-Service API and FinOps hub for digital businesses and enterprises, providing accounts, cards, multiple payment types, and open banking services via API.

Round: Series C
Year: 2022
Raised: $108M (approximately £83M)
Lead investor: General Atlantic
Investors: General Atlantic, Blenheim Chalcot, Frog Capital, Highland Europe, PayPal Ventures
Headquarters: London, United Kingdom.
Industry: FinTech; B2B embedded payments infrastructure / Payments-as-a-Service.

Total funding: At least $108M raised in a Series C round as of May 2022; several sources list cumulative funding around $165M–$188M, but exact total varies by source.

Use of funds as presented: To expand Modulr’s pan-European embedded payments footprint, invest in product development (including open banking and account-to-account payments), scale its go-to-market operations, and grow its team.

What happened after the Modulr deck

External sources report that Modulr successfully raised $108M in a Series C round in May 2022 led by General Atlantic, using the capital to accelerate product development and pan-European expansion of its embedded payments and FinOps hub platform; detailed post-round outcomes beyond these high-level goals are not consistently documented.

On May 18, 2022, Modulr announced a **$108M (approximately £83M) Series C funding round** led by General Atlantic, with
Funding databases and industry writeups note that the **Series C was intended to expand Modulr’s pan-European footprint*

What the Modulr deck got right

Distinct FinOps hub positioning and explicit non-competition framing. The deck clearly positions Modulr as a **“modern FinOps hub”** rather than a generic payment processor, explaining that it provides accounts, multiple payment types, open banking services, and cards via API for enterprises and fintechs, and explicitly states that it does not compete with consumer-focused players like PayPal, Adyen, Square, and Klarna. This sharp category framing helps investors quickly understand where Modulr fits in the embedded finance stack.
Compelling recurring, transaction-linked revenue model. Modulr highlights that its **revenue is driven by recurring transaction revenue with high net retention**, showing that monetization is usage- and volume-based rather than one-off fees. This aligns with investor preference for sticky, infrastructure-style revenue streams that grow as customers scale their own payment volumes.
Strong regulatory and institutional moats highlighted. The deck places strong emphasis on **regulatory excellence and institutional credibility**, citing its regulatory approach, membership in industry working groups, and connectivity that enables access to the Bank of England and enterprise customers. This reinforces trust for investors worried about regulatory risk in payments and explains why enterprises would select Modulr over less regulated competitors.
Clear linkage between enterprise focus, volume, and defensibility. By focusing on **enterprise customers as the “high-volume prize”**, the deck ties regulatory excellence directly to scalable payment volumes and network effects, arguing that enterprise wins drive volumes that attract further enterprise customers. This narrative helps investors see how regulatory investments and enterprise focus translate into defensible scale.
Credible, sourced large market opportunity narrative. The market slide quantifies a **$2T+ global payments revenue opportunity and a $50B European targetable opportunity by 2025 just within existing verticals**, and notes strong market tailwinds supported by sources like BCG Global Payments 2021. This provides a credible, third-party anchored TAM/SAM story that underpins the justification for a large growth round.
Concise, visual deck that emphasizes scale and systemic narrative. Deck analyses note that despite its brevity (11 slides), the presentation is **highly visual and concise**, focusing on key narratives such as systemic underinvestment by banks, the FinOps hub concept, regulatory excellence, and scale metrics like 105% year-on-year growth in annualised transaction revenue. This makes the deck easy to follow while still conveying infrastructure scale and momentum.

What could have been stronger

Missing explicit fundraising “Ask” and capital allocation details. Despite being associated with a $108M raise, analyses of the deck note that it **omits a clear “Ask” slide**—there is no explicit statement of how much capital is being raised, at what terms, or how it will be allocated beyond broad mentions of go-to-market and product investments. This leaves investors to infer the use of funds and round structure from external context rather than the deck itself.
No team or leadership slide in the deck. The teardown notes that the deck **does not include a team slide**, so investors see little about founders, leadership experience, or organizational readiness to execute on the FinOps hub strategy. For an infrastructure-scale play requiring regulatory and enterprise-sales expertise, the absence of team credentials in the deck is a notable omission.
Lack of unit economics and efficiency metrics. The deck reportedly **does not present detailed unit economics** such as customer acquisition cost (CAC), lifetime value (LTV), or payback period, even though it references recurring transaction revenue and high net retention. This limits investors’ ability to evaluate the efficiency of growth and the sustainability of the revenue model purely from the slides.
Heavy reliance on top-down market sizing. Market sizing in the deck uses a **top-down TAM/SAM framing** ($2T+ global payments revenue and a $50B opportunity in Europe by 2025) but does not show a granular bottom-up build (e.g., pricing × customer segments × adoption rates). Investors must bridge the gap between very large market numbers and Modulr’s current footprint and pipeline without much detail.
Limited explicit competitive analysis in the slides. The deck asserts regulatory excellence and non-competition with PayPal, Adyen, Square, and Klarna, but **provides limited competitive benchmarking**—there is no detailed comparison table or explicit discussion of alternative B2B embedded payment platforms. This makes it harder to see how Modulr’s product breadth, pricing, or performance differ from peers beyond the categorical “FinOps hub” framing.

How an investor would read this deck

What draws attention

The deck is tied to a **$108M Series C round in May 2022 led by General Atlantic**, which signals both strong institutional validation and a late-growth positioning despite some external mislabeling as Series A.
Modulr’s positioning as a **“modern FinOps hub” for enterprises and fintechs**—rather than a consumer payments brand—directly addresses the embedded finance and B2B infrastructure trend, which many growth investors prioritize.
The slides and teardown highlight **recurring, transaction-based revenue with high net retention**, suggesting a usage-driven SaaS/infra monetization model attractive to investors who favor sticky, volume-linked revenue.
The deck emphasizes **regulatory excellence and direct connections to central bank infrastructure** as key enablers for serving enterprise customers at high volume, which can be a strong moat in regulated payments markets.
A **$2T+ global payments TAM and a $50B European opportunity by 2025** for Modulr’s existing verticals, combined with strong market tailwinds and A2A / open banking growth, supports a large outcome potential narrative.

Risks that stand out

Regulation-heavy infrastructure businesses face **significant compliance, licensing, and supervisory risk**, and Modulr’s stated reliance on regulatory excellence as a differentiator means any regulatory issue could directly impact access to systems like the Bank of England and enterprise customers.
The **competitive landscape in embedded payments and BaaS is crowded**, and while Modulr frames itself as non-competitive with PayPal and others, alternative B2B providers and banks could erode differentiation if they match “FinOps hub” capabilities.
The deck’s reliance on **top-down TAM figures without granular bottom-up projections** may signal execution risk: capturing a meaningful share of a $2T+ market depends on precise vertical strategies, pricing, and partnerships not fully detailed in the slides.
Heavy dependence on **enterprise customers and high payment volumes** can lead to concentration risk; a small number of large clients may account for a disproportionate share of transactions and revenue, which would be important to validate in data beyond the deck.
Because the deck underplays **unit economics and cost structure**, there is a risk that growth is capital-intensive or margin-dilutive, which investors must evaluate through deeper financial diligence rather than relying on the narrative alone.

Questions this deck invites

How exactly are **transaction revenues structured and priced** (per transaction, per account, per API call), and what are the historical trends in ARPU, net expansion, and cohort behavior beyond the high-level “high net retention” claim?
What is Modulr’s **current and projected compliance and regulatory cost base**, including capital requirements, and how does this affect gross margin and scalability as volumes grow in the UK and EU?
How does Modulr concretely **differentiate from other B2B embedded payment and banking-as-a-service providers** in Europe (product breadth, SLAs, pricing, vertical focus), beyond the “we don’t compete with PayPal, Adyen, Square, Klarna” sta
What is the **go-to-market motion** (direct enterprise sales vs. channel/partner-led, vertical specialization), and how efficiently can Modulr acquire and expand large enterprise customers across geographies with the newly raised capital?
Given the deck’s focus on regulatory excellence and enterprise volume, what are Modulr’s **key operational and technology risk controls** (resilience, fraud, AML, uptime), and how have they performed historically under stress (e.g., outages

What founders can take from the Modulr deck

A deck can **reframe a crowded category** by introducing a distinct concept—Modulr’s “modern FinOps hub” positioning differentiates it from generic payment processors and consumer wallets while clarifying a B2B infrastructure focus.
Explicitly stating **who you do not compete with** (e.g., PayPal, Adyen, Square, Klarna) can preempt investor misperceptions and sharpen category boundaries, especially in noisy markets.
Emphasizing **regulatory excellence and infrastructure access** (e.g., Bank of England connectivity, membership in regulatory working groups) can be a powerful moat narrative for fintechs selling into enterprises.
Even successful decks can **omit traditional elements** like a team slide or detailed “Ask,” showing that a concise, narrative-strong deck can still raise large rounds when supported by external relationships and diligence.
Using **top-down market sizing tied to specific verticals and timeframes** (e.g., $2T+ global payments revenue and a $50B European opportunity by 2025) can anchor a large-opportunity story, but investors will still require bottom-up validation.
Stressing **recurring, transaction-linked revenue with high net retention** aligns well with investor interest in sticky infrastructure revenue, demonstrating that monetization design is as important as product positioning in fundraising narratives.

Modulr pitch deck: common questions

What does Modulr do?

Modulr is a UK-based **embedded payments / Payments-as-a-Service platform** that provides APIs for accounts, card issuing, and multiple payment types, marketed as a **modern FinOps hub** for enterprises and digital businesses. Instead of offering a consumer app, it offers regulated B2B infrastructure so customers can embed and monetize payments in their own products.

Which round and how much funding is this Modulr deck associated with?

The deck corresponds to a **$108M funding round in May 2022**, which multiple external sources identify as Modulr’s **Series C**, led by **General Atlantic** with participation from existing investors such as Blenheim Chalcot, Frog Capital, Highland Europe, and PayPal Ventures. Some secondary databases list the round as Series C rather than Series A, despite certain pitch-deck libraries labeling it differently.

Who invested in Modulr’s 2022 funding round linked to this deck?

According to the company and press coverage, the **$108M round was led by General Atlantic**, a global growth equity firm, with significant participation from **Blenheim Chalcot, Frog Capital, Highland Europe, and PayPal Ventures**. These are reported consistently across multiple funding and press databases.

What is meant by Modulr’s “FinOps hub” in the deck?

The deck and accompanying analyses describe Modulr as creating a **“modern FinOps hub”** that provides business accounts, multiple payment rails (including account‑to‑account), card issuing, and open banking services via APIs, all backed by regulatory infrastructure and access to central bank payment systems. It emphasizes that Modulr’s customers use this infrastructure to **build, scale, operate, and control business money flows**, rather than relying on banks or consumer-facing processors.

Can I see the full Modulr pitch deck used for this raise?

No public copy of the full deck is hosted by Modulr itself, but **pitch-deck libraries and teardown sites** provide screenshots and text excerpts of the 11-slide presentation. These sources highlight key slides on the FinOps hub concept, enterprise regulatory positioning, the $2T+ payments TAM, and the $50B European opportunity targeted by 2025, as well as commentary on what is and isn’t included in the deck.

Sources

Funding and outcome facts on this page were researched on 2026-08-22 from the pages below.

What the investor wrote

Investor-side writing matched to this company through dated, cited funding evidence.

Frog Capital

Related funding context

This investor wrote about a closely related funding event for this company, not verified as the same round.

May 17, 2022

Modulr enables companies to embed payments into their platforms without regulatory burden, complex payment systems, or direct payment network membership.
“Modulr makes it possible for businesses like Revolut, Sage, Wagestream, and BrightPay to build payments directly into their own platforms without the need for regulation, complex payment systems, or resources to manage payment network membership.”
Publication date not verified · Source
Since its founding in 2016, Modulr has acquired over 200 clients and processed more than £100 billion in total transaction value.
“It’s answering a growing need, with over 200 clients since Modulr was founded in 2016, with strong user growth and processing transaction value of more than £100bn.”
Publication date not verified · Source
Modulr features a scalable, enterprise-grade architecture and seamless API that powers embedded financial services across multiple verticals.
“The Company’s scalable, enterprise-grade architecture and seamless API have helped to establish its reputation and driven client wins spanning travel, accounting, payroll, challenger banking and vertical software across the UK and Europe.”
Publication date not verified · Source
Modulr's existing investor base includes major institutions such as Blenheim Chalcot, Highland Europe, PayPal Ventures, and FIS.
“General Atlantic joins an impressive list of Modulr’s existing investors including Blenheim Chalcot, Highland Europe, PayPal Ventures and FIS.”
Publication date not verified · Source

Modulr pitch deck slides

Modulr pitch deck slide 1 of 11 — Modulr pitch deck — slide 1 of 11

Modulr pitch deck slide 2 of 11 — Modulr pitch deck — slide 2 of 11

Modulr pitch deck slide 3 of 11 — Modulr pitch deck — slide 3 of 11

Modulr pitch deck slide 4 of 11 — Modulr pitch deck — slide 4 of 11

Modulr pitch deck slide 5 of 11 — Modulr pitch deck — slide 5 of 11

Modulr pitch deck slide 6 of 11 — Modulr pitch deck — slide 6 of 11

What each slide of the Modulr pitch deck says

Slide 1

bubble +: paxport sage lsendine lisys Payments. Designed by our customers Powered by Revolut ™ HyperJar AY 4 ACCEN ris — iwoca [ May 2022 J

Slide 2

Today digital businesses are el eel under even 1 Lack of innovation Ea Ls Modulr #

Slide 3

Spotting the hidden inefficiencies in your payment systems Reconciliation NA (is) NA <3 » ~ Administrati = & Manual SAK -~ AN data entry TE - lai ui Nt operations cota ZN — P; t NT e No room for innovation pr. Slow, tedious, error-prone processing

Slide 4

Forward thinkers can seize a competitive advantage Freedom to facus on customer experience ' Quick and easy modernisation of payments infrastructure

Slide 5

| Hereare the capabilities you need Embedded digital yment | Quick | $8] easy A Better functionality

Slide 6

Creating the modern FinOps hub v X l»EnEI E 0O Accounts A2A Card Direct [ Physical Pos Payments Issuing debit banklnz ayment acceptance payment " We are creating the modern FinOps hub to enable enterprises and FinTechs to bulld, scale, operate and control business money flows We don't compete with PayPal © Our customers want to offer and monetise payments, rather Worapavi Acyen, Squans: Kiama than leaving it to their bank, without being regulated © We succeed because the platform provides accounts, multiple payment types, open banking services, cards, that can be initiated via AP call, and is proven at scale ® Qur revenue is driven by recurring transaction revenue with high net retention ra…

Slide 7

Customers don't come to us asking for better payment solutions They ask how we can solve their business issues. Example Outcomes all centre volu Monetise payments Higher likelihood of payment Real-time information for A2A transactions Eliminate DOB®® 6@ ® Modulr 7

Slide 8

The high-volume prize is the enterprise customer market Our regulatory approach enables us to win enterprise customers who expect and demand regulatory excellence. = Chalr PEFF (payments, e-money. Member of FFE monthiy fimtech, and other firancial events, survey 'services) working groun matriutions and input Without regulatory excellence... ...we would be unable to connect to the Bank of England, or attract large enterprise customers... ..who drive payments volume at scale, which in turn further attracts enterprise customers... somam— Member of trae bosy for Member of 'Preject Regulator 'ehectronic money isuers and Waorking Group NOcHative payrert service providess

Slide 10

Giant opportunity $2trn+ glabal opportunity Global revenue opportunity from payments 52»122!)" estimated at over $2trn. Global TAM Modulr will have the capability to target at least $50bn of this opportunity in 2025 just from existing verticals, $307bn European TAM Strong market tailwinds to support Modulr capturing opportunity, Accelerated by Modulr's investment in Go To Market and Product. Seures: BCG Glabal Payments 2021 Note: European SAM CONSSES of payments revenue in current Moddr Larget verticals in UK and Eurcpe

Slide text above is read directly from the Modulr deck PDF embedded on this page.