The company now enables American brands to sell their products in Latin America through various marketplaces using its tech platform.
Initially, LAP Global provided consulting services to small and medium-sized businesses looking to expand beyond Chile. However, at the end of 2022, following an investment from Amarena (the venture capital arm of Patricia Angelini’s family office), they decided to become a Software as a Service (SaaS) company.
This shift was driven by the need for scalability. “The previous model wasn’t viable or scalable according to our expectations and those of our investors,” Leal explained. The transformation process involved automating many internal processes and cutting costs, which led to the layoff of 20% of employees in September 2023. This restructuring increased their gross margin and reduced fixed costs by 60%.
One year into the new model, LAP Global reports a 50% increase in sales during the first quarter of 2024 compared to the same period last year. Their technology allows brands to sell on international marketplaces, automate order dispatching, and view real-time data through an app.
In addition to offices in Colombia and Mexico, LAP Global has opened a new office in Miami, led by a local executive. In the US market, LAP Global helps local brands sell their products in Latin America. Their first client in this market is guitar manufacturer Fender.
Currently, LAP Global has over 400 clients in industries such as textiles, cosmetics, and food, processing annual transactions worth $25 million. With operations turning profitable in May, Leal projects a 100% growth in sales for 2024 compared to last year.
LAP Global’s strategic transformation has led to significant growth and international expansion, establishing the company as a key channel for exporting products between the US and Latin America.
