Y
YONDR Group
Slide 1 of 14
Confidential — Investor Presentation

Australian Gift Card
Market Opportunity

Capturing Market Share in Regulatory Chaos

March 2026 Deadline Creates $10.9B Opportunity
Yondr Group of Companies — Kobble • Shouta • Yondr

The $10.9 Billion Market in Panic

AML/CTF Amendment Bill 2024

Gift cards designated as “value transfer services” with mandatory KYC for all purchases.

Industry Unprepared

12-18 months needed to build compliance infrastructure. Most providers calling it “impractical and unnecessary.”

Regulatory Timeline

Dec 2024
Legislation Passed
Q1 2025
Panic Sets In
Mar 31, 2026
Compliance Deadline
Q2 2026+
Non-Compliant Providers Exit

The Opportunity

$10.9B
Australian gift card market (2024)
9.5%
Annual growth rate
69%
E-gift card share (digital dominant)
54%
Corporate/B2B segment

Market Segments

Why Now: Blood in the Streets

“Make hay while there is chaos and blood on the streets.”

Market Tailwinds

Digital-First Consumer Shift

69% of gift cards now digital. Post-COVID e-gifting acceleration.

Corporate Market Expansion

54% B2B segment growing for employee rewards & loyalty programs.

Regulatory Moat

AML/CTF creates 12-18 month barrier. First movers capture exiting share.

Competitor Chaos

Blackhawk Network

Weakness

Physical card focus, legacy tech, no KYC built

Our Edge

Digital-first, KYC-ready

Prezzee

Weakness

10% workforce cuts, signalling exit from Australia

Our Edge

Committed to AU, compliance-ready

InComm / TCN

Weakness

Retail model incompatible with KYC requirements

Our Edge

Direct digital delivery

Incumbent Landscape

Blackhawk Network (BHN)

  • Global leader, 400K+ consumer touchpoints
  • Revenue: Retailer fees + $2.95/card activation
  • Foreign transaction fees: 3%
Physical-first, minimal digital KYC capability

Prezzee

  • $160M revenue (2023), $1B+ processed annually
  • Revenue: 1.15% merchant fee + $4.95 Visa card fee
  • 85% owned by Shaun Bonett (Precision Group)
10% workforce cuts, signalling potential exit from Australia

InComm Payments

  • Acquired TCN for ~$70M
  • Revenue: Retailer distribution + transaction fees
Physical retail model incompatible with KYC requirements

Physical Card Providers

  • Shopping centre cards, retail chains
  • No digital infrastructure
March 2026 = extinction event for non-compliant players

Shouta + Kobble: The Only Compliant Solution

S

Shouta

B2C Platform

  • 55,000+ customers
  • 300+ B2B clients
  • Best-in-class reloadable gift card product
  • 100% breakage retention on direct B2C
K

Kobble

Infrastructure

  • Built to power Shouta-style clients
  • Mastercard Principal Issuer
  • AFSL 545391 & AUSTRAC registered
  • Full KYC/AML infrastructure ready
  • 4-12 week deployment for new clients

Why We Win

KYC-Ready Infrastructure

Built for compliance, not retrofitted

Digital-First

Virtual cards, full digital experience, Apple Pay enabled

Speed to Market

4-12 weeks deployment (vs 12-18 months for competitors)

Proven Migration

Successfully migrated Shouta from EML to Kobble

Regulatory Moat

AFSL, AUSTRAC, Mastercard Principal Issuer

Multiple Revenue Streams

Revenue LineDescriptionTypical Rate
Load FeesFee per card load$2-5 per card
Transaction Fees% of transaction value1.5-2.5%
Platform FeesMonthly SaaS fee per client$5K-25K/month
BreakageUnredeemed balances40-50% share
Setup/IntegrationOne-time onboarding$25K-100K
Card IssuancePer-card production (virtual)$0.50-1.50

Breakage Opportunity

Industry breakage averages 10-20% of card value.

$75M

Gross breakage revenue at $1B volume with 15% breakage and 50% share

18-Month Financial Scenarios

MetricConservativeBaseAggressive
Market Share3%10%20%
Volume$327M$1.09B$2.18B
Transaction Revenue$6.5M$21.8M$43.6M
Breakage Revenue$2.5M$8.2M$16.4M
Platform/Other$1.5M$5M$10M
Total Revenue$10.5M$35M$70M
Investment Required$2.5M$8.3M$16.5M

Assumptions: 2% transaction fee, 15% breakage rate, 50% breakage share on B2B (100% on B2C direct)

Revenue vs Investment by Scenario

Use of Funds

Sales & Marketing40%

Execute Kobble & Shouta revenue strategy

Technology & Platform25%

Platform capabilities & AI integration

Client Integration15%

Migration & onboarding specialists

Team Expansion12%

Key hires: Sales, integration, client success

Working Capital8%

Reserve & float requirements

Proven Track Record

55,000+
B2C Customers
300+
B2B Clients
$654M
Pipeline Value
7
Signed Contracts

Key Milestones

  • Successful EML migration
  • Multiple inbound enquiries post-regulation
  • Insurance, payments & corporate clients onboarded
Launched Kobble
January 2025

Regulatory Moat

AFSL 545391

Australian Financial Services Licence

AUSTRAC Registered

AML/CTF compliance

Mastercard Principal Issuer

Direct card issuing capability

Apple Pay Enabled

Full digital wallet support

“Kobble and Shouta are perfectly placed to be the saviour in this scrambling market. We have the core components and more out of the box.”
SC
Shane Chanel
CEO, Yondr Group

Investment Opportunity

Key Terms

Raising$2.5M — $16.5M
StructureEquity investment into Yondr Group
UseCapture gift card market share in 18-month window
ReturnsOngoing cashflow + strong exit potential

Exit Optionality

Strategic Acquisition

Mastercard, Visa, major payments players

Industry Consolidation

InComm, Blackhawk or other incumbents seeking compliant infrastructure

IPO

Public listing as market leader in compliant gift card infrastructure

Continued Cashflow

Distributions from profitable operations

The Ask

$2.5M — $16.5M

To capture 3-20% market share in the 18-month regulatory window

March 2026 deadline creates once-in-decade land grab
Only compliant, scalable infrastructure ready to deploy
Targeting family offices / HNW investors
“Make hay while there is chaos and blood on the streets.”
shane@kobble.net
+61 400 133 834
Confidential — Yondr Group of Companies