- Apprecio, founded in 2021, offers a mobile app for Latin American mom-and-pop shops, simplifying sales, inventory, and payments.
- Features built-in product scanner and database, streamlining pricing and inventory management.
- Allows card and QR code payments, boosting revenue and modernizing commerce.
Imagine running a small store, managing sales, purchases, inventory, and payments all with pen and paper. This is the reality for many mom-and-pop shops in Latin America, where cash transactions still dominate despite the rise of digital payments.
Apprecio, a mobile app founded in 2021 by Aldo Del Valle, aims to change that narrative by providing a comprehensive solution tailored to the unique needs of these businesses.
The Founding Story:
Apprecio was born out of a simple yet powerful idea: to help the 10 million mom-and-pop shops in Latin America accept card payments. These small businesses, known as tienditas, play a crucial role in the region's economy, representing over 60% of total sales for consumer packaged goods companies like Coca-Cola.
However, the majority of their transactions are still conducted in cash, making it challenging to track sales and manage finances efficiently.
The value proposition:
Apprecio offers a mobile app that simplifies the management of sales, purchases, inventory, and payments. With a built-in product scanner powered by the camera, store owners can save valuable time that would otherwise be spent manually recording transactions.
Additionally, Apprecio's database of over 20,000 products with price information tailored to each location streamlines the process further, ensuring accurate pricing and inventory management.
Differentiation and Innovation:
What sets Apprecio apart is its focus on providing a seamless payment solution for mom-and-pop shops. Recognizing that these businesses lose up to 30% of sales by not accepting card payments, Apprecio introduced a payments feature that allows store owners to accept card and QR code payments.
This innovative approach not only increases revenue for the shops but also brings them into the digital age of commerce.
They also have a cherry element called appreciation+ that boosts up business:
Funding and Recognition:
Apprecio's innovative approach has not gone unnoticed. The startup raised an undisclosed amount in a Series Unknown funding round from Y Combinator, a prestigious startup accelerator.
This funding will enable Apprecio to expand its reach beyond Mexico and into other countries in Latin America, furthering its mission to revolutionize the way mom-and-pop shops do business.
Conclusion:
Apprecio's journey is a testament to the power of innovation and entrepreneurship in solving real-world problems. By providing a user-friendly, comprehensive solution for mom-and-pop shops, Apprecio is not only helping these businesses thrive but also contributing to the growth of Latin America's economy.
With a focus on empowering small businesses and simplifying their operations, Apprecio is truly a game-changer in the world of retail.
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Edited by Shruti Thapa
