When do I launch in Brazil? A common strategic question for companies in Spanish speaking Latin America that Sebastian Baquero, Jorge Quinche Serrano, and the team at Ruedata faced.
The typical advice is to wait until your company is much further along before even considering entering because of the language, unique culture, different legal/ regulations, challenges with building a local team, etc.
But increasingly I am speaking to companies that make the decision to move sooner than conventional wisdom dictates.
In many markets, Brazilian customers are earlier to adopt technology than in Spanish speaking LatAm. For a younger company targeting early adopters is the key to survival. The market is enormous so in many cases you simply have more shots on goal.
Finally, the level of ambition of the entire ecosystem is sky high. Whether it’s investors willing to believe you can build a truly great company (like the team at Caravela Capital) or team members eager to build something new, Brazil can be a breath of fresh air for many founders in Spanish speaking LatAm.
But people are always critical and the team at Ruedata hired an incredible country manager (Marcelo Correa Ramos ) who opened doors and led to a great start.
I am proud to be an investor in Ruedata and hope their experience can make founders re-examine their assumptions about Brazil 🇧🇷
And a big thanks to 500 LatAm for backing Ruedata and hosting an amazing event for their founders here in Oaxaca!
René Lomelí Ojeda Santiago Zavala Cecilia Ezquerro
