Apurata Company Profile

Background

Overview:
Apurata is a Peruvian fintech company founded in 2016, specializing in providing point-of-sale financing solutions tailored for Latin America's middle class. The company focuses on offering instant underwriting for small purchases ranging from $100 to $1,000, facilitating both e-commerce and physical retail transactions.

Mission and Vision:
Apurata aims to bridge the credit gap for the underbanked and unbanked populations in Latin America by leveraging proprietary technology and innovative origination procedures. Their goal is to provide accessible and efficient credit solutions, starting in Peru and expanding across the region.

Industry Significance:
By addressing the financial needs of approximately 100 million underbanked Latin Americans, Apurata plays a pivotal role in enhancing financial inclusion and stimulating economic growth within the region.

Key Strategic Focus

Core Objectives:

• Financial Inclusion:

Provide credit solutions to underbanked and unbanked individuals in Latin America.

• Technological Innovation:

Utilize advanced technology to streamline the credit approval and disbursement processes.

• Market Expansion:

Establish a strong presence in Peru with plans to expand services across Latin America.

Areas of Specialization:

• Point-of-Sale Financing:

Offer instant underwriting for small purchases, enhancing the purchasing power of consumers.

• E-commerce Integration:

Facilitate seamless financing options for online shoppers.

Key Technologies Utilized:

• Proprietary Underwriting Algorithms:

Assess creditworthiness rapidly and accurately.

• Digital Platforms:

Enable users to apply for and receive loans entirely online, ensuring convenience and efficiency.

Primary Markets Targeted:

• Peru:

Initial focus on the Peruvian market, addressing a $3 billion opportunity.

• Latin America:

Plans to expand services to other countries within the region, targeting a $25 billion market.

Financials and Funding

Funding History:

• Y Combinator Investment:

Participated in Y Combinator's Summer 2019 batch, receiving an investment of $150,000.

Revenue:

• Annual Revenue:

Estimated to be between $1.5 million and $3.8 million as of April 2025.

Utilization of Capital:

• Technology Development:

Enhance proprietary underwriting algorithms and digital platforms.

• Market Expansion:

Scale operations within Peru and plan for regional growth.

• Talent Acquisition:

Recruit professionals in software development, risk management, operations, customer service, and collections.

Pipeline Development

Current Offerings:

• Small Loans:

Provide loans ranging from 300 to 1,000 soles with repayment periods of 1 to 3 months.

Future Developments:

• Product Diversification:

Explore additional financial products to meet the evolving needs of the target market.

• Technological Enhancements:

Continuously improve the digital platform to offer a seamless user experience.

Technological Platform and Innovation

Proprietary Technologies:

• Underwriting Algorithms:

Utilize advanced algorithms to assess creditworthiness instantly.

Scientific Methodologies:

• Data Analytics:

Employ data-driven approaches to refine credit assessment and risk management processes.

AI-Driven Capabilities:

• Machine Learning:

Implement machine learning models to enhance predictive accuracy in credit evaluations.

Leadership Team

Key Executives:

• José E. Carrillo Pino:

Founder
Brings extensive experience in financial services and technology, leading Apurata's strategic direction and operations.

• Patrick Wakeham:

Founder
Co-founder with a background in fintech, focusing on product development and market expansion.

• Claudia G.:

Chief Financial Officer
Oversees financial planning and management, ensuring fiscal responsibility and growth.

Leadership Changes

Recent Appointments:

• Chief Technology Officer (CTO):

Appointed in September 2021, bringing expertise in technology strategy and innovation.

Competitor Profile

Market Insights and Dynamics:

• Market Size:

The Latin American underbanked market represents a $25 billion opportunity, with Peru accounting for $3 billion.

• Growth Potential:

Increasing internet penetration and smartphone usage contribute to the expanding demand for digital financial services.

• Industry Trends:

A shift towards digital lending platforms and fintech solutions is reshaping the financial services landscape in Latin America.

Competitor Analysis:

• Prestamype:

Offers factoring and mortgage-backed loans, connecting entrepreneurs with investors seeking higher returns.

• Banco de Crédito del Perú (BCP):

A leading Peruvian bank providing a wide range of financial services, including personal loans and credit products.

• Alprestamo.pe:

Facilitates quick loans without paperwork, offering a streamlined application process.

• DineroalToque.com:

Provides fast loans through Financiera Crediscotia, emphasizing quick access to funds.

• Crediface.pe:

Offers personal loans with flexible repayment terms, focusing on user convenience.

Strategic Collaborations and Partnerships

Y Combinator:
Participation in the Summer 2019 batch provided funding and mentorship, aiding in scaling operations and refining business strategies.

Operational Insights

Strategic Considerations:

• Competitive Landscape:

Apurata differentiates itself through rapid loan approval processes and a fully digital platform, catering specifically to the underbanked segment.

• Market Position:

Positioned as a leading fintech in Peru, with plans for regional expansion to capitalize on the broader Latin American market.

• Competitive Advantages:

• Speed and Efficiency:

Instant loan approvals and quick disbursements enhance customer satisfaction.

• Accessibility:

Minimal requirements for loan applications make credit accessible to a larger population.

• Technological Edge:

Proprietary algorithms and digital platforms streamline operations and reduce costs.

Strategic Opportunities and Future Directions

Strategic Roadmap:

• Product Expansion:

Develop new financial products to meet diverse customer needs.

• Regional Growth:

Expand services to other Latin American countries, leveraging the scalable digital platform.

• Technological Innovation:

Invest in AI and machine learning to enhance credit assessment and customer experience.

Opportunities for Expansion:

• Partnerships:

Collaborate with e-commerce platforms and retailers to integrate financing options at the point of sale.

• Financial Education:

Provide resources and tools to educate consumers on financial management, fostering long-term relationships.

Positioning for Future Objectives:

• Customer-Centric Approach:

Focus on understanding and meeting the unique needs of the underbanked population.

• Regulatory Compliance:

Ensure adherence to financial regulations to build trust and credibility.

• Sustainable Growth:

Balance rapid expansion with sustainable business practices to ensure long-term success.

Contact Information

Website:
Apurata Official Website

Social Media:

• LinkedIn:

Apurata LinkedIn Profile

Headquarters:
Lima, Peru