Cabify has already raised over $400M in funding. Backing by notable institutional investors includes investments by Rakuten Capital and Seaya Ventures. Uber competitor Cabify is now one of the leading startups in Spain, with over 1,000 employees worldwide. This growth is largely thanks to the following pitch deck.
What did they do right? What could they have done better to raise more money and have a greater choice of capital partners?
Cabify & Winning Pitch Decks
This startup was founded back in 2011 in Madrid by Adrian Merino, Francisco Montero, Juan de Antonio, Sam Lown, and Vicente Pascual. That’s two years after the founding of Uber in 2009.
The founders of the company used the pitch deck below that was published by one of its first investors Ian Noel. The pitch deck was used for one of their first financing rounds in November of 2012. Based on data from Crunchbase (see here), this leads me to believe that it was also used for their Seed round.
Overall, the presentation is interesting but perhaps a bit short on slides. If you want a more robust pitch deck template that you can use for free, check out the one I created below which has been used already by thousands of entrepreneurs to raise millions of dollars.
Also check out the the highly reviewed book The Art of Startup Fundraising in which I cover pitch decks extensively in chapter 4.
As I share with members of Inner Circle, which is a fundraising training where we help from A to Z, a killer pitch deck should include the following slides:
- Market Size
- Amount being raised
In this regard, if you are wondering how to create a pitch deck you may find interesting the video below where I cover this in detail.
Here’s my Cabify pitch deck review and how you can make yours better…
From my point of view the cover slide is a bit dry. Investors on average spent about 3 minutes per pitch deck. I believe it is a mistake to not include a high resolution photo that to certain degree represents what the company does. This could be a picture related to the business or the actual product in action. Humans tend to associate memories with visuals, so this will help investors to remember you and know what you are all about before they start to review the slides. It sets the tone nicely.
The cover could also include celebrity endorsement quotes or quotes from the media in which they are saying positive things about your company. Added to the cover slide can provide social proof and trust, and give viewers a far more positive impression from the first click.
Furthermore, the confidential part could be placed in a much smaller font at the bottom and does not require that amount of precious real estate.
There just needs to be one problem, not many at the same time. In the case of Cabify, they are a marketplace satisfying riders as well as drivers. In my opinion they should have focused in one single thing. Perhaps fact that riders need to be picked up when they need it and pay a reasonable price for it. The rest is noise.
It is dangerous to include so much text on a slide as it may overwhelm the investor. As a founder you need to convey as much as you can with visuals. That it allows people reviewing the presentation to skim through it much faster. The less reading the better.
I also find that using phrases like “urban mobility sucks“ is a bit risky. There are a lot of gray haired investors that tend to be a bit more serious than the younger crowd. For that reason I would probably avoid it to be on the safe side. Speak in the language of the investor you hope to land.
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