Mexico City, June 9th 2016. – ALLVP, one of Latam’s most active VC funds in Fintech in Latam, announced a seed investment in Aplazame, the Spain-based online check-out lending platform for e-commerce merchants, to finance the launching of its operations in Mexico. This investment represents a renewed bet on the Fintech sector in Latam for ALLVP, after having partnered with Mexico’s leading peer-to-peer lending platform Prestadero, healthcare-related loan originator Salud Fácil and SME’s lending origination platform Visor.
Founded in 2014, Aplazame offers a unique check-out lending platform for e-commerce merchants, that provides instant credit for online purchases. Aplazame’s has develop and is continuously evolving a learning system that discriminates between good and bad payers by analyzing alternative data. Its services include providing e-commerces with tools that allow using financing as a marketing lever. Aplazame has already demonstrated impressive early traction in Spain and now aims to become the first check-out lending platform in Mexico as a first step to conquer the Latam market. Current investors include Cabiedes & Partners, the Spain-based early stage investors of Privalia and Blablacar.
“Aplazame is fortunate to partner with ALLVP and draw on their extensive expertise in Fintech, vast network and solid track record in scaling businesses in Latam”, shares Fernando Cabello-Astolfi about the strategic value of Aplazame/ALLVP partnership.
E-commerce in Mexico continues to scale with a total market reaching US$ 13bn in 2016. Leading startups such as Cornershop, Petsy, Gaia and international e-commerce platforms such as Amazon and Walmart confirm their bet on the sector with large investments in Mexico. Short-term consumer financing that has the potential to support and accelerate this trend yet it is currently limited to two products: credit cards that have a low penetration rates in Mexico, and pay day loans with high interest rates. Aplazame aims to address these market shortcomings through a lean online lending interface directly integrated at the e-commerce checkout that addresses both end customers need for simple, transparent and fair consumer credit and e-commerce willingness to increase sales by using consumer financing as a marketing lever.
Fernando Lelo de Larrea, Managing Partner at ALLVP, commented on the partnership with Aplazame: “The Mexican e-commerce market continues to grow strongly. Yet, it still faces bottlenecks and challenges that limit its growth potential with many consumers still lack access to efficient financing solutions. Aplazame is at the intersection of these two megatrends and is in a privileged position to solve
Antoni & Lelo de Larrea Venture Partners
Sierra Mojada 447, P.B., México D.F.
these inefficiencies. We strongly believe that Aplazame’s tech-enabled business model is the solution to fostering e-commerce growth in Mexico and Latam..”
With this investment, ALLVP confirms its bet on exceptional founders. Prior to Aplazame, Fernando Cabello-Astolfi founded and grew Ibercheck to profitability, an online platform that allows consumer to understand and manage their credit records. Fernando started his career as a business development manager in Spanish utility company Gas Natural before working as a consultant in Monitor Group. Fernando holds an MSc in Economics from London School of Economics, UK.
About Antoni & Lelo de Larrea Venture Partners
ALLVP – Antoni & Lelo de Larrea Venture Partners – founded by Federico Antoni and Fernando Lelo de Larrea in 2012, is the most active fund in the early stage venture capital industry in Mexico. With twenty highly innovative companies within the healthcare, energy, fintech, consumer digital and enterprise digital sectors across two portfolios, the fund has invested in other successful companies such as Farmacias Personalizadas, the first specialty pharmacy distribution company in Mexico, Enlight, the leading provider of residential solar power, and Cornershop, the fastest growing on-demand grocery platform in Latin America. The firm is a member of the Latin-American Venture Capital Association (LAVCA), the Mexican Private Equity Association (AMEXCAP) and Endeavor Investor Network.