Sramana Mitra: What was the structure? Did AstroPay put in money into dLocal? How did you financially engineer this? Sebastian Kanovich: We share most of the shareholders. dLocal shares existing customers from AstroPay. We lost money for one month but after that, we managed to break even. We’ve been profitable since then. We didn’t have
dLocal was spun off from its parent company with 40 customers. It never took any outside funding and has grown to 350 customers within a year. Read on for more. Sramana Mitra: Let’s start at the very beginning of your journey. Where are you from? Where were you born, raised, and in what kind of
Sramana Mitra: Talk to me similarly about how you position against ServiceNow and Apttus in contract management. Colin Earl: It’s essentially the same positioning. The Agiloft platform allows us to do two things. It allows us to configure the product to meet the needs of an individual customer in a period of weeks and it
Sramana Mitra: Let’s go back to specifics. What was your customer acquisition strategy? Was it direct sales? You had a set of customers who were on your previous product and were switching or upgrading to this one. Was that the first set of customers that you got? Colin Earl: Yes, that was the first set of
Sramana Mitra: By the end of 2014, what was your level of e-commerce business? Eyal Levy: Because we grew the business through other options, the percentage of the online business remained within the 15% to 20% range. Domestically, it grew. It went up to 25%. Sramana Mitra: I have one question which I can’t help
Sramana Mitra: All these years, it’s a progression and evolution of the same company that you’re still running today? Colin Earl: That’s right. Sramana Mitra: This previous product that you’re comparing your current contract management software with, what year was that? Colin Earl: The first product was roughly in 1996 to 2002. We ran with
Sramana Mitra: Why Japan? Eyal Levy: Through the years and since 2012, people would see our brand if they came to the US and tried it or they’d just read articles online. Some approached us to see if they can start the brand in their own country. With most of them, it just wasn’t the right
Colin Earl: The next thing that happened was somewhat of a surprise. It was being picked up by very large businesses. I won’t mention by name but it’d suffice to say that one client was one of the world’s largest defense contractors. When a guy representing them called, I asked him what they will be using it