Product development Where engineering meets business development

Fortumo overview

➢ Leading global provider of direct carrier billing ➢ Operating in 90+ countries, partnered with 350+ carriers ➢ Founded in 2007, profitable since 2009 ➢ Over 150,000 merchants signed up ➢ Investment from Intel Capital in February 2013

2

Merchants using Fortumo

2-Oct-163

App stores: official in-app billing partner

VOD & Music: subscriptions for premium accounts

Gaming: sale of virtual in-game items

Social networks: sale of premium

features and airtime

Digital publishers: subscriptions for premium

accounts

Software: subscriptions for

premium accounts

Fintech: top-ups for virtual

credit cards

Challenges to adopt the classical way

6 Merchant Facing Payment Products

Merchant Onboarding

Merchant Services

Public Web

Fraud

Analytics

Backoffice

Commercial Management

Accounting

Infra

Carrier Connections

2

P L A T F O R M S

R U B Y

VS

J A V A

What should we do?

1. Bet on the future

2. Do iterative improvements

3.Focus on immediate revenue growth

Reality (today vs tomorrow) x 3

Merchant needs Internal needs Platform needs

Challenge. Comparing apples to oranges

Merchant needs • £$€ gained • £$€ lost

Internal needs • time saved => £$€ • stress removed

Platform needs • scaling => £$€ • maintainability

SCRUM. Planning & workflow

Engineering

P R O D U C T

S T R A T E G Y

ISH

ESH

ISH

ISH ISH

ISH

ISH

ISH

ISH

ISH

ISH

ISH

ISH

ESH ESH ESH

ESH

ESH

ESH

ESH

ESH

ESH

ESH

ESH

Lets build an empire

CPO

PO PO PO

Scrum team

Scrum team

Scrum team

Team Lead Team Lead Team Lead

Minimum team:

15 PO-s 15 TL-s 60-120 engineers

Main shortcomings in our case• Relatively big organisational overhead• Constant multitasking, lack of focus• PO becomes bottleneck• PO looses touch with the market• Engineers not part of design and creative work• Ownership in engineering• Delivery meets the spec vs stakeholder needs

Merging Engineering, Product, Business

What we want to change?• Remove PO as a bottleneck

• Ones who feel the pain is the best stakeholder• Increase ownership in engineering

• Faster feedback loop and understanding what and for whom

• Delivery meets stakeholder needs not only the specs :)• Engineers directly in touch with stakeholders

• Remove distraction and reduce context switch for engineering

Fortumo. Stakeholders work directly with engineering

EngineeringS T R A T E G Y

EXTERNAL STAKEHOLDERS

ISH 1 ETL

Engineering

Engineering

ETL

ETL

ISH 1

ISH 1

ISH 1

ISH 1

Fortumo Product developmentFocus Products

Product Projects

Carrier Connections

Infra

BAU & Maintenance

Automation & Tech Debt

• Q focus -> monthly plans -> weekly sprints• Monthly plan review with stakeholders &

product steering• Allocated time for different areas from q to q• Continuous investment to the future• Most of the internal development and

feature requests managed by ISH• own budget, better decisions

• Every focus product has technical lead & owner

Feature requests. Can we not do it?Our first instinct is to keep our products lean and not to do it by asking the following questions:

• Does it make sense at all?• Is it something the merchant is asking for and we actually have something

already that solves the merchants’ need?• Does it make sense as a product feature to all merchants?• Does it fit to our overall vision?• Is it something that would require basically rewriting everything and

therefore not feasible?• Is there revenue to be gained?• Is it somehow remotely blocking additional revenue? • If we do this, what can’t we do?

9-Jun-16

Thank you!