Executive Summary

In one sentence, what do you do?

Billeo is the leading personal finance app for shopping and paying bills online - making it fast, easy and rewarding. 

Billeo enables financial institutions to increase the quality of their customer interactions, outside of their own websites, and drives the use of their payment products early in the shopping process and at the time of online 'checkout'.

What problem do you solve for and for whom?

The problem is that financial institutions are only engaging with customers at the bank website, rather than during the product research process and at the online point of sale.  Whether it's for payments or purchases, financial institutions need a way to actively engage with their customers during the shopping research and payment process.  To do so will result in increased card usage, more frequent and larger purchases and greater customer satisfaction.  Two specific examples of the current problem:

Online Shopping: Financial institutions have compiled unique and valuable offers from merchants for their card members (credit, debit and prepaid) and offer them as a component of their loyalty programs.  These offers are currently made available on their websites and via email.  The problem is that card members aren't taking advantage of these loyalty programs because the last thing on their mind when they're shopping online is going to their financial institution's site or searching through their email inbox for a discount offer.  On the flip side, consumers are missing out on valuable money saving deals.

Bill Pay: According to a recent consumer survey by Fiserv, Inc., there are 48 million household members who prefer to go directly to merchant websites to pay many of their bills, and  only 31 MM use the bank bill pay website.  The bank site is not an option for consumers who wish to pay their bills immediately or have the option to pay with their card.  However, at the merchant's website, they can pay their bills instantly, and are offered a plethora of payment and report options.  Banks can insert themselves back into the payment process at these merchant sites and expand their bill pay offerings to include credit, debit and prepaid card products and engage with the customer in a way that provides tangible benefits.

What makes you different than anyone else in this space?

Billeo's Offer Assistant is the first app of its kind that bridges the gap between financial institutions' loyalty programs and their customers' keen desire to save money when shopping online.  Using patent-pending technology, the Offer Assistant delivers discounts and rewards within the search results of Google, Yahoo! and Bing at the precise moment when customers are most receptive to them-during the product search and online checkout. This gives financial institutions the unique opportunity to engage and influence consumer spending and payment behavior from anywhere online. Billeo currently provides offers from card issuers such as Visa, American Express and UPside Prepaid Visa for more than 350 of the top online retailers.

Billeo's Bill Pay Assistant makes paying bills at merchant websites fast and easy.  Billeo has the largest and de facto industry standard directory with more than 11,000 companies that accept payments online.  Billeo navigates users through the payment process, provides smart bookmarks, auto-fills passwords, fills payment method details and saves payment receipts.  With Billeo, financial institutions can offer expedited payment services, as well as drive use of revenue generating card products for bill payments. 

We are the only company that enables financial institutions to have a presence on the user's browser while also leveraging the power of the web as customers transact online.

Through the Offer Assistant and the Bill Pay Assistant, Billeo allows financial institutions to engage with their customers in ways that will generate incremental sales and increase brand loyalty. 

What was the feedback received from your last investor or client discussion?

Last month we had the pleasure of meeting a pioneer in the personal financial management space and a Fortune 100 company Founder and Board Member. Here is an excerpt from the email sent to senior executives of the firm after the meeting.

"With our increasing outreach to leading venture capitalists to find the best innovation and innovators I met with Billeo.  I really enjoyed our meeting and the opportunity to see what the engines they have built are capable of.   I found Billeo interesting in several dimensions where we can be useful to them and they to us."

Provide 50 words or less that would get someone like Warren Buffet to listen to your pitch.

Billeo is the only application that gives financial institutions a way to directly engage during their customers' shopping research activities and at the online point-of-sale.  It gives a "persistent presence" to financial institutions enabling them to influence card usage by displaying discounts and reward offers during the search process, by presenting rewards at checkout, and by offering insurance products after purchase.

What is the one word that most of the people you talk to about your product or service use to describe it?

Awesome (Billeo Offer Assistant)

Addicted (Billeo Assistant Suite)

Why are you "what's next" in payments?

Online shopping and bill pay continue to be the fastest growing area of payments.  Billeo brings the unique ability for a financial institution to engage with the customer at 'online checkout' in ways that is not possible at brick-and-mortar stores. 

To influence card usage, card issuers have marketed to their cardholders through statement inserts, direct mail, banner ads, emails, etc.  The return on these efforts are extremely low as they never appear to the consumer when they are conducting online product searches or when they are paying online. The Offer Assistant effectively delivers messages and personal account information at just the right moment during checkout.  Information such as card member benefits, extended purchase warranties, money saving offers, reward point accelerators, coupon codes, reward balances, cash back information, etc. can be presented at checkout to influence the use of a specific card.

The engagement begins when the consumer searches for what they intend to buy on Google, Yahoo! or Bing - the search results are tagged with available merchant offers through card loyalty programs. The engagement continues after the purchase has been completed - up selling product insurance or acknowledge benefits accrued from using the card.

For consumers, the Offer Assistant personalizes the product research and shopping experience while enabling money savings and greater choice and control over their online purchases.   

Billeo's "sense-and-respond" technology provides financial institutions a way to better engage online with their customers from search-to-purchase.

General Company Information

Management information 

Murali Subbarao, Founder & CEO
Allwyn Lobo, Co-founder & VP of Engineering and Operations 

Key members of the executive team

Robin O'Connell, VP Business Development
Jennifer Fitzmorris, VP Finance

Management's prior entrepreneurial experience

Murali Subbarao: Imeco Ultrasonics, India (COO), Arula Systems (VP Business Development, spin-off from HP Labs, sold to Raritan in 2002)

Allwyn Lobo: Early engineering roles at Healtheon/WebMd (IPO 1999) and Respond Networks ($60MM funding)

Robin O'Connell: Marketing manager at Food.com (50,000 merchants, 750,000 registered users, $100MM funding), Founder Cerro Pampa Ranch (horse boarding facility for 75 horses)

All members of the management team also have experience working at Fortune 500 companies such as HP, Visa, J Walter Thomson and Silicon Graphics.

Number of employees:  17

Funding Stage: Series B

Where can we find you on the Web

• Website: www.billeo.com
• Blog: http://blog.billeo.com/
• Twitter: http://twitter.com/billeoinc
• Contact email: sales@corp.billeo.com
• Contact email 2: invest@corp.billeo.com