#170 – Building companies in LatAm and the US: Matias Recchia, Keyway

Scott Hartley was a researcher and went on to work with product and operations at companies like Facebook and Google. But the most well-known part of Scott’s journey began when he hit Sand Hill Road.Scott went on to become a co-founder of Two Culture Capital and Everywhere Ventures. Across these two VC firms, he invested in over 300 startups around the world — Latitud and LatAm included.In a world now ruled by AI, Scott talks instead about IA, or intellectual amplification. On a similar note, he’s also the author of The Fuzzy and the Techie: Why the Liberal Arts Will Rule the Digital World.In this chat, Scott and I talk about:• What makes him confident about investing early on and in multiple countries;• The difference between fuzzy and techie entrepreneurs;• And the advice Scott shares most often with startup founders.My name’s Brian Requarth and this is the Latitud Podcast. Vamos, LatAm!Building good sh*t in Latin America? Learn about how Latitud can help you at latitud.com Discover and pitch Latitud Ventures, your partner from 0 to 1 and beyond Sign up for our weekly newsletter for founder insights and some tough love And follow us on Linkedin / Instagram / Spotify to stay in the loop

Back in 2018, Santiago Gomez and Alejandro Casas were just two young and hopeful founders, fresh into YC. However, with a team of 25 working on an e-commerce business, they struggled to find funding. "There's no founder-product fit", the investors would say. After a while, it clicked that their passion was elsewhere.They were challenged by a mentor to kill the startup and start building something, just the two of them, that really lit a fire under their feet. Oh yeah, and they should also be generating revenue in 6 months.Santiago reached out to his network and signed a 3-month contract with Rappi to map out problems within the company that they could solve through software. After an intense quarter, they came up with a platform to conciliate all the financial transactions ran through the super app, and an easy and reliable way for any company to manage their financial data.Simetrik was born, with Rappi's founders investing 2 million dollars in its pre-seed round. The product naturally evolved and now has customers in over 35 countries. Santiago and Alejandro also got a lot more funding – including a $20M Series A in 2022 and a $55M Series B announced just a few days ago.In this chat, we talk about:How Simetrik's culture contributed to its success The tricky balance between technical excellence and rapid growthAnd the challenges in fundraising that they didn't see comingBuilding good sh*t in Latin America? Learn about how Latitud can help you at latitud.com Discover and pitch Latitud Ventures, your partner from 0 to 1 and beyond Sign up for our weekly newsletter for founder insights and some tough love And follow us on Linkedin / Instagram / Spotify to stay in the loop

Over a decade ago, Matias Recchia created a startup to take home maintenance services online. IguanaFix expanded across Latin America, and eventually attracted the Brazilian unicorn Madeira Madeira.After the sale, Matias dived into a new challenge: bringing more efficiency to the US real estate market. Keyway uses data science, artificial intelligence, and machine learning to improve how Americans manage investments in commercial properties.In this episode, Matias and I talk about:— Whether it's harder to operate a startup in LatAm or the US;— His company-building lessons, including how to efficiently use AI in your startup;— And how to divide roles between co-founders.Building good sh*t in Latin America? Learn about how Latitud can help you at latitud.com Discover and pitch Latitud Ventures, your partner from 0 to 1 and beyond Sign up for our weekly newsletter for founder insights and some tough love And follow us on Linkedin / Instagram / Spotify to stay in the loop

AI has been the talk of the town for a while. But have you seen it in your run-of-the-mill bank yet? Well, Hyperplane is changing that.About a dozen banks in Brazil are already getting all the information they have, running it by the startup's artificial intelligence, and then predicting customer behavior and building personalized experiences.The startup finally came out of stealth a few weeks ago, with a USD 6M round to boot. We're over the moon about being early investors in Hyperplane and participating in this new round as well.In this episode, co-founder Rohan Ramanath and I talk about:The problems Hyperplane is solving through artificial intelligence;The benefits of taking your time to learn and develop your startup;What companies investing in AI often overlook, and how the convergence between AI and fintech will play out in the next few years.My name's Brian Requarth and this is the Latitud Podcast. Vamos, LatAm!Building good sh*t in Latin America? Learn about how Latitud can help you at latitud.com Discover and pitch Latitud Ventures, your partner from 0 to 1 and beyond Sign up for our weekly newsletter for founder insights and some tough love And follow us on Linkedin / Instagram / Spotify to stay in the loop

Unicorn stories generally look at the beginning and the end of the journey. There's not a lot out there about the messy middle, filled with patience and hard work.That's why we invited the co-founders of Pismo, 99, and Upload Ventures to our most recent Vamos Latam Summit. By the way, you can already click this link to pre-register for our next, incredible edition of VLS.In this episode, Daniela Binatti, Paulo Veras, and Rodrigo Baer talk about:- How previous failures and learnings played into success later on;- How to deal with competition and choose co-founders;- And how to survive through tough times and create a valuable company.My name's Brian Requarth and this is the Latitud Podcast. Vamos, LatAm!Building good sh*t in Latin America? Learn about how Latitud can help you at latitud.com Discover and pitch Latitud Ventures, your partner from 0 to 1 and beyond Sign up for our weekly newsletter for founder insights and some tough love And follow us on Linkedin / Instagram / Spotify to stay in the loop

Most of the time, the road to startup success is not a straight and short one. Founders can face unexpected roadblocks and then take detours – especially in Latin America.Kristen Durham, the VP of SMBs and Startups at Zendesk, chatted with the founders of GetNinjas, Madeira Madeira, and Silverguard in our most recent Vamos Latam Summit. They shared the obstacles seen in their long journeys as entrepreneurs, from product development to employee retention. By the way, you can already click this link to pre-register for our next, incredible edition of VLS.In this episode, Eduardo L'Hotellier, Daniel Scandian, and Marcia Netto talk about:- Early product development and fundraising challenges;- How to deal with and learn from business crises;- And how to attract, engage, and retain top employees.My name's Brian Requarth and this is the Latitud Podcast. Vamos, LatAm!Building good sh*t in Latin America? Learn about how Latitud can help you at latitud.com Discover and pitch Latitud Ventures, your partner from 0 to 1 and beyond Sign up for our weekly newsletter for founder insights and some tough love And follow us on Linkedin / Instagram / Spotify to stay in the loop

A Series A is a crucial moment for every venture-backed business. Raising this round is a turning point for startups, from validation to scale.So at our most recent Vamos Latam Summit, we invited investors from Latitud Ventures, Canary, Valor Capital Group, and Fintech Collective to share their perspectives on the path to a Series A. By the way, you can already click this link to pre-register for our next, incredible edition of VLS.In this episode, Tomas Roggio, Carlos Torras, Marcos Toledo, and Antoine Colaço talk about:- The state of early and late-stage fundraising in LatAm in 2023 and 2024;- The metrics and milestones VCs take into consideration at the Series A stage;- And the perspective for downstream capital in LatAm, from Series B onward.My name's Brian Requarth and this is the Latitud Podcast. Vamos, LatAm!Building good sh*t in Latin America? Learn about how Latitud can help you at latitud.com Discover and pitch Latitud Ventures, your partner from 0 to 1 and beyond Sign up for our weekly newsletter for founder insights and some tough love And follow us on Linkedin / Instagram / Spotify to stay in the loop

Fundraising the right way to end up with a healthy cap table isn't usually a top-of-mind priority for startup founders. But it should be. Making a dilution mistake in the earlier stages can bring you and your startup a lot of problems when it's time to raise new rounds.That's why we called experts from BZCP, Carta, Campbells, and Gunderson Dettmer. They shared the best cap table management practices during this year's Vamos Latam Summit. By the way, you can already click this link to pre-register for our next, incredible edition.In this episode, Eduardo Zilberberg, Reed McBride, Alexandra Clynes, and Adan Muller talk about:- The different corporate structures for fundraising and their trade-offs;- How founders and their startups should legally prepare for fundraising;- And what's the current state of fundraising and exits in LatAm.My name's Brian Requarth and this is the Latitud Podcast. Vamos, LatAm!Building good sh*t in Latin America? Learn about how Latitud can help you at latitud.com Discover and pitch Latitud Ventures, your partner from 0 to 1 and beyond Sign up for our weekly newsletter for founder insights and some tough love And follow us on Linkedin / Instagram / Spotify to stay in the loop

A founder-investor relationship is like a marriage: hopefully, you're both sticking to each other through thick and thin, for years to come.Finding the right partner and crafting this lasting relationship is no easy task. That's why we called founders and investors to share their experiences during this year's Vamos Latam Summit. By the way, you can already click the link in the description to pre-register for our next, incredible edition.In this episode, Cumbuca's founder Daniel Ruhman and the investors Jonathan Lewy, from Investo, and Mercedes Bent, from Lightspeed Venture Partners, talk about:- How investor relationships changed in the past few years;- The signs of a good and a bad partner, no matter if they're founders or investors;- How startups can differentiate themselves from competitors, and how founders can sell the value prop to investors.My name's Brian Requarth and this is the Latitud Podcast. Vamos, LatAm!Building good sh*t in Latin America? Learn about how Latitud can help you at latitud.com Discover and pitch Latitud Ventures, your partner from 0 to 1 and beyond Sign up for our weekly newsletter for founder insights and some tough love And follow us on Linkedin / Instagram / Spotify to stay in the loop

Product-market fit can make or break your startup. Being in a good market with a product that can satisfy that market is an essential but difficult task.That's why we asked the founders of BHub, Foodology, and Pomelo to come to Vamos Latam Summit and share their own journey of reaching PMF.In this episode, Jorge Vargas Neto, Daniela Izquierdo, and Gastón Irigoyen talk about:- What were the strategies to acquire their first customers in competitive markets;- What metrics they use to measure product-market fit;- And why achieving PMF, making small pivots, and talking to investors are constant efforts.My name's Brian Requarth and this is the Latitud Podcast. Vamos, LatAm!Building good sh*t in Latin America? Learn about how Latitud can help you at latitud.com Discover and pitch Latitud Ventures, your partner from 0 to 1 and beyond Sign up for our weekly newsletter for founder insights and some tough love And follow us on Linkedin / Instagram / Spotify to stay in the loop