Introducing Ariel Díaz Ailán from Rebill.com
Q: Could you briefly introduce yourself and your startup?
A: I’m Ariel Díaz Ailán, the co-founder and COO of Rebill.com. Our startup is a cross-border payment and subscription platform, specifically designed for startups that are scaling in Latin America.
Q: What inspired the creation of your startup?
A: The idea for Rebill was born when my co-founder, Nahuel Candia, was providing IT consulting for an insurance company in Argentina. They needed a solution for online recurring payments. Nahuel noticed a significant gap in the Latin American market, mainly the lack of services similar to Chargebee. This realization led him to start a spin-off with the insurance company, which eventually culminated in the launch of the first version of Rebill.
Why Start-Up Chile?
Q: Why did you decide to join Start-Up Chile?
A: At the end of 2020, we had a small but skilled team, especially in fintech. We realized the need for funding to take our startup to the next level. We were aware of Start-Up Chile (SUP Chile) and its excellent reputation. Given our financial needs and the fact that we were a Latin American startup, joining Start-Up Chile seemed like the perfect choice for us.
How a Founder Gets In
Q: Could you share your experience with the application process for Start-Up Chile?
A: The application process for Start-Up Chile was straightforward. It started with filling out an online form and was followed by an interview phase.
Q: What was the level of competition in the Start-Up Chile application process, and how did Rebill distinguish itself?
A: The competition for Start-Up Chile was intense, reflecting the program’s prestige. Rebill managed to stand out, thanks to our focus on fintech and SaaS, the advantage of being second-time founders, and the traction we had already demonstrated in our field.
Inside Start-Up Chile Program
Q: What was a typical day like in the Start-Up Chile accelerator program, especially during the pandemic?
A: During the pandemic, our experience in Start-Up Chile was quite unique. A typical day mostly involved virtual mentorship sessions and workshops. We also dedicated significant time to refining our business strategy and advancing our product development.
Q: How much funding did Rebill receive from the Start-Up Chile accelerator, and what led to this amount?
A: Through the Start-Up Chile accelerator, we were fortunate to receive around USD 70,000. This was double the standard funding amount. The reason we received more was that we were selected for the program’s extension and were recognized as a fast-growing startup.
Achieving Milestones and Overcoming Pandemic Challenges
Q: What was a significant achievement for Rebill during the time in the Start-Up Chile program?
A: A pivotal milestone for us during the program was expanding our platform’s capabilities. Initially, we were only processing payments in Argentina. However, during the program, we successfully extended our services to Chile, Colombia, and Mexico. This expansion played a crucial role in our recognition as the fast-growing startup in the Ignite program.
Q: What challenges did you encounter during the Start-Up Chile program, particularly with the pandemic?
A: During the program, one of the main challenges was dealing with the travel restrictions and lockdowns in Chile due to the pandemic. I was only allowed to leave my apartment twice a week. Despite these constraints, this period offered an unexpected benefit – it allowed me to focus intensely on our startup. It was during this time that we initiated our application to Y Combinator, which eventually led to our successful acceptance into the program.
Rebill’s Progress Post-Start-Up Chile Accelerator
Q: Can you update us on Rebill’s current status after completing the Start-Up Chile accelerator?
A: Since completing the Start-Up Chile accelerator, Rebill has made significant strides. We’ve successfully raised over USD 3.5 million from top-tier venture capitalists. Additionally, we’ve launched our cross-border payment gateway. This expansion now allows us to serve clients from six countries and process payments in 11 Latin American countries.
Q: In what ways has your startup’s growth changed since completing the Start-Up Chile accelerator?
A: The Start-Up Chile program was a turning point for us. At the time, we were on the brink of exhausting our funds. The program not only helped us avert this crisis but also played an essential role in attracting significant investments. This influx of capital has been instrumental in fostering our growth and expanding our reach in the market.
Q: What are the upcoming goals for Rebill, and how did the Start-Up Chile accelerator contribute to preparing for these targets?
A: Looking ahead, our immediate goal is to achieve profitability and secure our next round of funding by the end of this year. The experience and foundation we built during the Start-Up Chile accelerator have been pivotal in this journey. It directly contributed to subsequent investments we received from Y Combinator and other top-tier venture capitalists, setting us on a path toward these significant milestones.
Advice for Startups Eyeing Accelerator Programs
Q: What advice do you have for startups thinking about applying to Start-Up Chile or similar accelerator programs?
A: Accelerator programs can be incredibly beneficial, particularly for networking opportunities with potential clients, partners, and investors. However, it’s crucial to be strategic about equity. When choosing a program, consider factors like Start-Up Chile’s equity-free model. This approach ensures that you can maximize the benefits of the program without unnecessary dilution of your equity. This careful consideration can make a significant difference in the long-term success and control of your startup.