To kick off 2024, I want to share the amazing story of OneCarNow!In December of 2021, I first met Mairon Sandoval and Manuel Cangas. I was impressed with their ambitious vision but they were 20 years old.
I have worked with very successful young founders and my instincts told me there was something special about these two.
I proposed to Mairon that we meet every Friday for the next two months (January- February 2022) and by March we could see if it was a fit for me to invest. Thankfully he said yes to my proposal! 🙏
For the next few months we would work together on every aspect of their pitch, unit economics, etc. I was blown away by Mairon, his insights, and how humble yet incredibly competitive he was. By March of 2022 it was clear I had to back and support OCN! as much as I could.
OCN! launched as a car subscription (“rent to own”) service allowing drivers for ride hailing platforms (e.g., Uber, Didi, Cabify) to get access to a brand new car. Car financing is a major problem in LatAm and OCN! is part of the solution.
In less than 2 years, the company grew very quickly (6X growth in 2023 with well over $1M+ in quarterly revenue) serving hundreds of drivers across Mexico and soon to be serving thousands.
At the same time, the company has been very disciplined and lean. Using technology and sheer grit, they reached profitability within months of launch and have been profitable ever since.
The development of the OCN! team has been equally impressive. They grew from 2 young founders to a diverse, global team that includes a mix of people earlier in their careers to very experienced professionals including their new CTO.
Along the way I did my best to support Mairon as a founder and OCN! as a company. Mairon and I have met in 4 cities (including my home in Silicon Valley) and have had countless WhatsApp and Zoom meetings.
I also did my best to advocate for OCN! with potential equity and debt investors. I am very proud that firms like New Stack Ventures, Caravela Capital, Collide Capital, Great North Ventures, and many other funds and angels joined the team backing OCN!
Most importantly, every time I meet with Mairon I get even more excited about the future of the OCN! team. Their product and go-to-market roadmap is ambitious as ever. They will be making several big announcements in the coming months.
I feel lucky and blessed to support founders in the incredibly tough job they have in building companies. I am especially grateful to Mairon Sandoval and Manuel Cangas for letting me be part of their journey for over 2 years.
Happy new years to everyone and let’s make 2024 an incredible year!
🥳
Nick Moran Nate Pierotti Rodrigo Basil Andersen Fred Guesser Rodrigo Vieira Mario DeLara Sophie Mattsson Brian Hollins Elias Mufarech Ryan Weber Juan Pablo Jimenez Isaza Alfonso De los Rios NuMundo Ventures Lucas Dzierwa de Lima Andres Felipe Caicedo Michael Shum KENJI NARUSHIMA Hans Christ Nicholas Ziyang Olivier Scialom
