03 Oct ALLPAGO – JAVIER VALLAURE
Allpago is a payment solutions provider for global merchants and other payment providers active in Europe and Latin America. Javier Vallaure, its COO, shares with us what means to be a “startup eurolatina”, the challenges they face and how allpago has successfully ovwecome them!
- Bridging Europe & USA with LATAM thanks to technology and connectivity for payments.
- Hands on the field. Local expertise in LATAM acting globally.
- We finance ourselves, no investors needed yet. Freedom to grow, develop new strategies and business models.
1.- Keys for investing in Europe from LATAM
A lesson learned I would like to share regarding opportunities for European startups is that they tend to focus on a regional approach or scope, while US startups always tend to have a global approach and look for international markets.
Although this early global traction can happen organically at the beginning, the reality is that European startups must be strategic about systematically scaling from a local region to any number of international markets. For us designing a roadmap for LATAM expansion has proven to be key.
2.- Our future plans to grow.
- New office & HQ in the USA
- 2018 Chile and Peru are part of Allpago
- Untapped opportunities in other industries
3.- In terms of opportunities, I would you suggest to other entrepreneurs……
In our experience having a good and healthy flow of capital in the beginning of launching a venture is always a must. Maybe due to our special financing approach with no investors at all made things more challenging at the beginning ….so that would be one of my basic suggestions.
4.- How we mitigate the barriers that we have encountered when expanding internationally
Headquarters in 3 countries and 3 open offices means higher costs and more coordination efforts due to different time zones, culture and mobility. We have not figured out yet the perfect recipe.
Attracting the right talent has proven to be our toughest barrier so far. There are zillions of administrative and bureaucratic steps to follow when hiring foreigners in Europe. In our experience when hiring new comers from out of Europe, it takes more time all many administrative and immigration files, forms etc, needed that getting the new employee up to speed.
These many requirements have no added value at all for our business but we are thinking hiring someone to deal with the HR part. So there is a long way to go to facilitate attracting new talent from LATAM and making things easier to settle in Europe.