EULA VC Investment Thesis

Bridging European innovation with Latin American market opportunities through strategic capital and operational expertise.

€50k-€150k
Investment Range
3-6 months
Market Entry Timeline
30+ years
LATAM Experience
5 countries
LATAM Coverage

The Opportunity

Latin America presents a large, under-served, high-growth market for tech startups. As Sifted reports, many European founders are actively looking to Latin America because "hundreds of millions of customers" remain less well-served by tech than in Europe or the US.

"For example, one fintech found a third of its business now comes from Colombia and Peru years after expansion." — Sifted

The Problem

Despite the opportunity, many European pre-seed/seed companies struggle to enter LATAM efficiently. The Sifted article highlights key friction points:

Cultural Complexity

Underestimating cultural, operational and regulatory complexity despite language affinities (Iberian founders).

Talent Cost Surprises

Hiring seasoned leaders locally in LATAM can cost as much or more than in Europe.

Regulatory Hurdles

Foreign-founded startups may face local hiring quotas, public funding conditions, and slow approvals.

Execution Gaps

Market entry often delayed or mis-executed due to weak local execution.

Our Value-Add

EULA VC pairs capital with hands-on senior operational and financial leadership rooted in LATAM banking and management excellence. With over 30 years of executive experience in Latin America (Brazil, Mexico, Argentina, Chile, Colombia), we help startups navigate the local ecosystem, establish regulatory compliance, optimise unit economics in LATAM, set up payments/FX structures, hire strong local leadership and accelerate go-to-market.

Target Investments

Company Profile

European pre-seed & seed tech companies with product-market fit and explicit intent to scale into LATAM.

Investment Size

€50k–€150k for initial seed, with optional follow-on support for standout winners.

Selection Criteria

Founder commitment to LATAM expansion, scalable growth potential, amenable to operational oversight.

Expected Outcomes & KPIs

Speed to Market

Enable market entry into LATAM within 3-6 months (vs typical 6-12 months) via our acceleration playbook.

Market Traction

Rapid user/market traction: first 1,000 LATAM users or first $10k-$50k MRR within 6-12 months of launch.

Unit Economics

Improved unit economics by optimising local pricing, payments/FX efficiencies, and GTM channels.

Follow-on Potential

~30-40% of portfolio companies progressing to next round (Seed II) by ~18 months.

Success Cases

5 mini case studies — Europe → LATAM wins

Belvo

Spain → Mexico, Brazil

Barcelona-based open-finance API provider expanded into Brazil and Mexico early, becoming a backbone for banks and fintechs across the region.

Impact Metric

Serves 150+ customers, including BBVA, Santander and Mercado Libre in Mexico/Brazil; scaled platform coverage and fundraising to fuel LATAM growth.

Cabify

Spain — Large LATAM footprint

Madrid origin ride-hailing company scaled aggressively in Latin America rather than focusing solely on Europe — building a multi-country transport network and logistics footprint across the region.

Impact Metric

Operating in 40+ Latin American cities and facilitating tens of millions of rides (reporting ~91M rides and ~76M users in a recent period). This regional scale made Cabify a leading mobility player in LATAM.

Glovo

Spain → LATAM operations & impact

Barcelona-founded on-demand delivery platform used LATAM as a major growth theatre (and later strategic exits/partnerships) — generating significant local GMV and partner revenue.

Impact Metric

Operating across many countries and cities (1,300+ cities globally at peak) and credited with driving €billions in partner revenue; LATAM was a meaningful part of that expansion story.

Mambu

Germany → LATAM customers & partners

Berlin-based cloud banking platform won early LATAM clients and enabled local fintech scale-ups (e.g., MACH in Chile), providing the modular core banking stack needed for fast launches.

Impact Metric

Mambu-powered clients (like MACH) reached millions of users (MACH reporting 3M+ users), demonstrating how a European SaaS banking stack helped local LATAM fintechs scale fast.

Wise / TransferWise

UK → Brazil & broader LATAM

Wise (formerly TransferWise) expanded payment rails and local capabilities in Brazil and other LATAM markets to capture cross-border remittance and payments share.

Impact Metric

Wise moved £100s of billions and has millions of customers globally; in Brazil it captured a meaningful share of cross-border flows by partnering with local banks and payment methods (e.g., Boleto), showing that European payments stacks can win with the right local execution.

Why It Works

Perfect Fit

European startups often bring strong product/technology foundations but lack local LATAM market execution muscle — our expertise bridges that gap.

Market Tailwinds

LATAM's high growth potential, large size (e.g., Colombia's market comparable to Spain) and rising tech innovation create favourable conditions.

Proven Model

The hands-on model of "capital + strategic partner + operational execution" reduces risk, speeds up time to market, and enhances exit potential.

Ready to Scale into LATAM?

If you're a European founder with product-market fit and ambitions to expand into Latin America, we'd love to discuss how our expertise can accelerate your growth.