Ximena Aleman, Prometeo | Can You Raise Millions With No Tech Background?

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

Ximena Aleman is cofounder and CEO of Prometeo, a startup whose technology enables Open Banking in Latin America, letting companies access information from multiple financial institutions and make account-to-account payments in an automated way.

Ximena is a journalist by profession and, coming from an unconventional path, she faced multiple challenges as a startup founder, especially when raising capital.

These obstacles led her to build a very efficient company from day 0. Today Prometeo connects to 283 financial institutions in 10 countries and has customers such as Citi, Santander, and Rappi. And a few months ago, Prometeo closed a 13 million dollar investment round with investors such as Antler, Paypal Ventures, and Samsung Next.

Ximena and I talk about:

Why raising capital was so hard for her, and her biggest mistakes
What she did to improve her ability to raise capital
How to differentiate yourself in a market with large competitors
The benefits of NOT raising capital at the start
And much more about her business and product strategy

Youtube Timestamps*

[09:19] - A 180-Degree Turn for Ximena and Her Entry into tech

What pushed Ximena to make the change?
Is there a way to prepare for leaping into the void and changing professional course?
Do you need a certain background to enter the startup ecosystem?

[17:44] - The Process of Raising Capital

Was it hard to raise capital at the start? Why does Ximena think it was?
How did Ximena evaluate whether to go after an unexplored market, or predict whether it still needs to mature?
What mistakes slowed Prometeo’s capital raise?
What are the benefits of not raising capital at the start?

[32:43] - The Genesis of Prometeo

What behaviors or methodologies would Ximena say are unique and have been key to Prometeo’s success?
How has Prometeo’s business model evolved in parallel with the evolution of the sector?
How do you turn your competitive advantage into a key element of your value proposition?

[44:06] - Final Considerations

Why is it fundamental to do market intelligence before raising capital?
How is market timing determined in the market? What signals did Ximena observe to know whether her market timing was right?
What is Ximena’s most extraordinary vision of the future for Prometeo?