EP 58: From Air Force Mechanic to $25M Fintech Founder with Edrizio De La Cruz

Join us as we sit down with Edrizio De La Cruz, founder of Arcus (formerly Regalii), a fintech company that revolutionized bill payments in Latin America. Get your free list of AI-matched VCs: https://web.thunder.vc/list-of-investors-vcs-for-founders Subscribe to our weekly newsletter: https://join.thunder.vc/ Edrizio shares his journey from Air Force mechanic to Wall Street, and ultimately to successful tech entrepreneur. He offers candid insights into founding, funding, and selling a startup.A real underdog to man-on-top story. Edrizio emphasizes the importance of perseverance, adaptability, and maintaining conviction in your vision, even in the face of seemingly insurmountable obstacles. Drawing from his experience, Edrizio provides great advice for founders at various stages of their journey, making this episode a must-listen for any tech entrepreneurs out there. Here's what you're in for: 00:00 Introduction 02:54 Edrizio's background and the genesis of Arcus 06:28 The Y Combinator experience and early funding challenges 11:34 Pivoting the business model and subsequent growth 16:22 Navigating the Series A fundraising process 24:54 The decision to sell to Mastercard 29:17 Behind-the-scenes of the acquisition process 31:19 Edrizio's post-acquisition journey and new ventures 32:30 The Founder School and supporting diverse tech founders 37:36 Common mistakes early-stage founders make 39:37 Edrizio's unique approach to pitch deck ABOUT EDRIZIO DE LA CRUZ Edrizio De La Cruz is a Dominican-born entrepreneur and fintech innovator. After immigrating to the US at age 12, he served in the Air Force as an airplane mechanic before transitioning to Wall Street and then pursuing his MBA at Wharton. Edrizio founded Regalii (later rebranded as Arcus) to address inefficiencies in cross-border money transfers and bill payments in Latin America. Under Edrizio's leadership, Arcus raised over $25 million in funding and was ultimately acquired by Mastercard. His journey from immigrant to successful tech founder has been documented in his book, "The Underdog Founder." Currently, Edrizio runs The Founder School, a 12-week program dedicated to helping diverse tech professionals launch successful startups. Drawing from his experience in founding, scaling, and selling a tech company, he's passionate about creating opportunities for underrepresented founders in the tech ecosystem. ABOUT FUNDRAISING DEMYSTIFIED Our goal is simple: to equip you with the knowledge, inspiration, and guidance to navigate the labyrinthine world of fundraising. Whether you're a budding entrepreneur seeking seed funding or an established founder looking to scale your business, this podcast will provide you with the tools you need to conquer the fundraising landscape. Thank you for being a loyal subscriber to Fundraising Demystified. We appreciate your support and are excited to continue bringing you more inspiring stories from successful founders. ABOUT JASON Jason Kirby is the co-founder of Thunder VC. He is a serial entrepreneur with 4 multi-million exits and decades of experience in fundraising and business building. He has coached hundreds of entrepreneurs in his career on fundraising, investing, capital strategy, and business development. You can reach out to Jason through: Email: [email protected] LinkedIn: https://www.linkedin.com/in/jasonrkirby/