Nico Diaz | Building a Hyper-Efficient Company, Selling AI to Regulated Banks in LatAm vs the US, and Y Combinator's View on AI

The audio and video are in Spanish. These notes are a translation.

Today I spoke with Nico Díaz, CEO and cofounder of Domu AI, a startup that uses generative artificial intelligence to automate collections and sales at banks and insurers. Currently, Domu AI works with clients such as BBVA and BNP Paribas, optimizing collections through calls, WhatsApp, SMS, and email, adapting accents by region. Today, Domu AI sells around $1M a year with a team of only 5 people and has raised capital from Y Combinator, B2Founders, and other investors from the U.S.

[1:22] the Origin of Domu and the Opportunity in Collections

From a young age, Nico combined two passions: building technology and selling.

How did his early experience building computers and selling Panini albums influence his entrepreneurial approach?
What was his first contact with the world of startups and what inspired him to build an AI company?

Before Domu, Nico and his cofounder, Camila, took part in hackathons and other technology projects.

What did they learn from these experiences about building products quickly and choosing a good cofounder?

Initially, Domu did not have a clear focus.

How did they arrive at the idea of specializing in collections and what market signals led them to focus on this problem?
Why specialize in collections instead of building a more generic AI tool for the financial sector?

[12:02]Building an AI Product for Large Companies

Domu started with a simple MVP based on WhatsApp before focusing on voice bots for collections.

How did they quickly validate the first version of the product with real customers?
What aspects of the user experience were key to differentiating their product?

As they grow, they have developed advanced AI capabilities to guarantee quality in interactions.

How do they handle the problem of “hallucinations” in AI and ensure the bot delivers reliable answers?
How relevant is personalization and adapting the model for each client?

Domu has managed to close clients such as BBVA and Santander despite the regulations in the financial sector.

What are these companies’ main concerns when adopting AI?
How have they handled long sales cycles and trust with banks and insurers?

[24:15] Expansion and Growth in the United States

Despite the challenges, Domu has managed to close clients in the U.S.

What was the sales process like in the U.S. and how does it differ from selling in Latin America?
What strategies have they used to open the market and build trust in such a competitive sector?

Access to proprietary data has been key to differentiating their AI.

Why is data personalization so important in collections?
How do they use data to optimize negotiation strategies and improve the success rate?

[38:00] the Future of AI and Automation

Nico believes call centers will disappear in the next decade.

How does he see the evolution of work in the sector and what new roles could emerge?
How close are we to full automation in collections and sales?