Mexico City, August 25th 2016.- ALLVP continued to set the pace within Latam’s early-stage investing arena by announcing their investment in on-demand job marketplace Apli that is revolutionizing the traditional job market in Mexico. By leveraging the on-demand economy trend that is currently driving innovation throughout Latam, Apli provides certified workers to help companies maintain service levels and take advantage of demand peaks by instantaneously matching companies with temporary workers via a location-based app. Apli is targeting the scale opportunity of high turnover service sectors by offering smarter and timely matches for workers and employers, heralding in an evolutionary internet era for Mexico wherein ubiquitous connectivity will allow startups to transform major, real-world sectors of the economy.
Apli is looking to simplify candidate-company matchmaking in the Mexican labor market where over 54%1 employers have difficulty filling positions, the time-to-fill job vacancies is higher than the Latam average and over 4 million2 active workers are under-employed. High absenteeism and temporary staff turnover rates crippled Mexican employers last year, equating to 663 lost days of work per employee and additional costs that amounted to 7.3% of total payroll expenses, as supervisors spent an average of 4 hours per week obtaining replacements and adjusting workflow. Apli’s talent-on-tap marketplace aims to correct these labor market shortcomings by streamlining the job search and hiring process and connecting businesses with qualified and vetted workers on short notice to fill unanticipated holes. ALLVP Managing Partner Fernando Lelo de Larrea commended Apli’s strong market fit: “Apli’s scalable and innovative labor model that caters to Mexico’s rising on-demand market is driving the next market disruption that promises new efficiencies and greater flexibility for employers and employees alike”.
Founded in April of this year, Apli is led by an outstanding CEO Vera Makarov, former CEO of Hellofood, Lamudi and Carmudi in Mexico, who brings a wealth of experience in results-driven business strategy alongside a top performing group of entrepreneurs with a successful track record of launching ventures throughout the Latam region. Apli has already gained strong traction after launching a pilot run at the beginning of July with high candidate and company retention rates and a solid base of active workers and companies reinforcing the Company’s resonance with its target market. Vera Makarov commented on Apli’s partnership with ALLVP: “We are thrilled to welcome ALLVP on board as a strategic investor in Apli who have an impressive track record in scaling disruptive ventures in Latam and who bring a vast network of investors, entrepreneurs and institutions to the mix”.
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-one 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 Weex – the MVNO for millennials, Cornershop – the fastest growing on-demand grocery platform in Latin America and Aplazame – Spain-based online check-out lending platform for e-commerce merchants. The firm is a member of the Latin-American Venture Capital Association (LAVCA), the Mexican Private Equity Association (AMEXCAP) and Endeavor Investor Network.
1ManpowerGroup, 2015, Talent Shortage Survey
2 INEGI – Mexico, 2016, Encuesta Nacional de Ocupación y Empleo
3 Kronos – SRHM, 2014, Total Financial Impact of Employee Absences