The audio and video are in Spanish. These notes are a translation.
We spoke with Hugo Blum, CEO and cofounder of 100 Ladrillos, a digital platform where you can invest in fractions of real estate properties from USD $250, 100% online and with no legal or administrative cost.
To date, 100 Ladrillos has financed more than 20 projects worth USD $30 million, from 26,000 investors.
Before 100 Ladrillos, Hugo founded YoTePresto and Kapital Financiera, a traditional financial company. The curious part is that both he and his partners came from a career that was 100% finance, so he had to learn technology from scratch in order to found and lead 100 Ladrillos.
We talked about how he learned to work with technology, to hire and build a technology team, and how his work mindset evolved as he went from building a traditional company to a technology company. Hugo also shared what he has learned about the fintech business: how to grow profitably, the biggest risks, and how to build trust with customers.
Youtube Timestamps*
[1:55] - Fintech Lessons
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How did Hugo get into the fascinating world of startups?
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What has Hugo learned about how to choose the right cofounders, and at what point to step aside and let someone else lead the organization?
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The 3 companies Hugo successfully founded are in consumer finance, and he has done it in a very capital-efficient way. What decisions were key in letting him succeed while being efficient with capital in such a risky business?
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What does Hugo mean by his concept of a mezzanine startup, and what examples of success does he have at different scales?
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What did Hugo learn about building trust in fintech?
[25:33] - Building in Technology Without Knowing Technology
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For Hugo, fintech is a sector where Silicon Valley’s mantra of “Move fast and break things” does not necessarily apply. What is Hugo’s philosophy on MVPs, and how has it evolved over time as he moved from more traditional businesses to more technological ones?
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Both Hugo and his partners come from a 100% finance background. What are Hugo’s recommendations for starting a technology team?
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It was a hard blow for Hugo to see that YoTePresto, a new company, was advancing and growing much faster than Kapital Financiera, and it led him to start a digital transformation process at Kapital Financiera. What was the hardest part in cultural terms? Is bringing in a technology team enough to succeed at building digital products?
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What was the hardest thing for him to learn about product, and about how to work with technology?
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What is 100 Ladrillos’ wildest vision? What does that incredibly frictionless real estate investing experience look like, an incredible experience at the end of the rainbow that still does not exist?
[49:34] - Rapid-Fire Questions
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If he had to start a company from scratch, what is the main piece of advice Hugo would give himself?
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What has been the most influential book on Hugo’s path through the world of startups?
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Changes Hugo would like to see in Latin America’s startup ecosystem
Episode Mentions
You can find Hugo on LinkedIn
Recommended video: The Golden Circle by Simon Sinek
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Follow Enzo Cavalie on X: @enzocavalie.