Contxto – Compulsive buyers in Latin America rejoice! Alquilab—a Peruvian marketplace for renting consumer items—is expanding operations throughout its native country. It will also extend its reach into Mexico, Argentina, and Chile in 2020.
Funds for this expansion stemmed from the investment Alquilab received for US$16,000 as part of Startup Perú’s seventh generation.
Related article: Peruvian startups receive more than US$22.7 million of public funds during last four years
Rent whatever you need
Through Alquilab’s platform, owners and item leasers meet to connect and agree on the date to rent out an item displayed on the site.
This startup began operations in early 2019 in Peru under the leadership of entrepreneurs Lahaina and Jhalil Saba. In this short time they and Alquilab have been very busy.
With over 1,600 registered users and 600 products in inventory for rental, the startup has managed 705 rental requests.
Nintendo Switches, bicycles, SUVs, camping tents. Their catalog varies in content for traveling, sports goods, technology, among others.
Through its solution, Alquilab helps buyers make the most of their goods by helping them rent out their purchases. Another perk the platform offers users is insurance in order to guarantee the integrity of rented items. Likewise, consumers looking for one-time use goods are also benefited.
By year’s end, Alquilab aims to increase its portfolio to 950 items. While one of its ultimate goals is to spread into all countries of Latin America.
Besides being part of the seventh generation of Startup Peru, Alquilab also won Telefónica’s Open Innovation contest and was one of the 20 finalists in Seedstars Latam. Not too shabby for nine months’ work.
Stimulating the Peruvian ecosystem
The entrepreneurial spirit in Peru has led to the organic rise of startups in the country. Nonetheless, government-backed initiatives are also an important source for spurring startup growth and survival. Now it might still be too early to tell—however Alquilab’s arrival to other countries can be seen as a positive sign as far as the impact of Startup Perú’s investment goes.
Although another important component is the already well-established network of multinational companies in any given country.
This is exemplified through the creation of the Mining Innovation Hub of Peru. A project developed through the teamwork of Buenaventura, Gold Fields, and Nexa, alongside the National Society of Mining, Oil, and Energy (SNMPE).
Rightly so, as startups multiply and expand throughout a country, more investors and accelerators will naturally be drawn.