Today, ALLVP, one of the most active VC fund 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 launch of operations in Mexico. This 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 unique check-out lending platform to e-commerce merchants, allowing them to offer a payment solution alternative to their customers. By providing an application process directly on the point-of-sale based on a powerful proprietary platform and risk algorithm, Aplazame is able to give to shoppers an efficient consumer lending application process based on the analysis of alternative data, and to the e-commerce merchant a powerful marketing tool to boost sales. Aplazame has already demonstrated an 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.
Mexican e-commerce continues to strongly scale with a total market reaching US$ 13bn in 2016, while various leading startups such as Cornershop, Petsy, Gaia and leading 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 this trend is currently limited to two products: credit card that have a low penetration rate in Mexico, and pay day loans, which cost remain prohibitive despite the growing penetration of online models. Aplazame aims to address these market shortcomings through a lean online lending interface directly integrated to the e-commerce merchant’s platform.
Fernando Lelo de Larrea, Managing Partner at ALLVP, commented on Aplazame: “Mexican e-commerce market continues to strongly grow but still faces bottlenecks and problems impeding growth opportunities, and many consumers still lack access to efficient financing solutions. Aplazame is at the intersection of these two mega trends and is in a privileged position to solve these inefficiencies. We strongly believe that Aplazame’s tech-enabled business model is the solution to fostering the growth e-commerce in Mexico and Latam..”With this investment, ALLVP confirms its bet on exceptional founders. Prior to Aplazame, Fernando Cabello-Astolfi founded and grew to profitability Ibercheck, an online platform that allows consumer to understand and manage their credit records. Previously he founded and directed Bluesoc, a company that develops and markets computer security premium solutions, that reached breakeven on its second year of operations. Fernando started his career as a business development manager in Spanish utility Fenosa and then worked as a consultant in Deloitte - Monitor Group. Fernando holds an MSc in Economics from London School of Economics, UK.