Insight
Puga: Pure SaaS struggles in Latin America without transactional business models
“When you build a SaaS company in Latin America, Numbers are not easy to build a one billion company, but when you create a transactional model on your product, that changes.”
Opinion
Puga: Building a billion-dollar LatAm startup requires multi-country expansion
“So we are not going to make it just with one country in Latin America. That's impossible. We're not going to make it. That's what I saw in the past.”
Insight
Puga: 90% of enterprise procurement integration needs are for accounting
“I would say that the main integrations that you need to operate Is accounting. That's critical for the operation. Right now, I would say that 90% of the need they have is for the accounting process, ok?”
Assertion Not checkable as stated
Finecto can fully integrate enterprise customers in four weeks, says founder
“I remember my last experience An integration process could take over a year. It's super difficult. So when we did this, right now we were able to have a customer fully integrated, yes, for weeks.”
Insight
Puga: Purchasing managers lack the authority to buy procurement software
“When we started, we made a mistake. What was the mistake? Prospecting the purchasing managers in, in every company. We got some calls with them and they say, I love your product. We want your product, but they didn't buy it. Jesse Middleton: No budget. Ariel P…”
Prediction Not checkable as stated
Puga: Finecto expects to reach $1M in revenue in 2025
“So we expect to have a small, but really good team to reach a million dollars this year on scale.”
Assertion Not checkable as stated
Puga: Cold calling night security guards generated $10k/month deals at Lemontech
“I found out that if you call companies, that call is redirect to a security guard. When I call during nights, I can talk to the security guard and ask for the number of the decision maker that I was looking for. So I always stay from seven to 10, ten-thirty in…”
Assertion Not checkable as stated
Ariel Puga: Finecto reached over $100K ARR across four countries
“So, right now, in just six months, we have classed 20 enterprises across four countries. We reached over a 100,000 dollars in ARR with just a small team of four, and all with founder-led sales.”
Assertion Not checkable as stated
Puga: Finecto charges $20 per approver, averaging $1,000 monthly per company
“So right now we're charging 20 dollars per user in the last two, three months. Our average is about a thousand dollars a month per company.”
Disclosure
Puga: Finecto operates at just a $7,000 monthly burn rate
“Right now, with the four, it's about seven.”
Insight
Puga: Managing multi-country teams requires monthly informal visits and meeting employees' families
“My opinion about building teams in different countries is that you need to have people that really trust you, and you need to be there at least once a month outside of the office. I mean, having a beer, you know, and meeting their families. To me, that's cruci…”
Disclosure
Ariel Puga: Finecto is raising a $1 million seed round
“Now we are raising one million dollars to make procurement easy for enterprises.”
Assertion Not checkable as stated
Puga: All of Finecto's initial enterprise sales were outbound and cold calls
“So all the sales were outbound. I still have the messages that I sent on social media, you know, and cold calling different.”
Ariel Puga