USD Capital Raised
Insights from Research:
The research started on the labor market in Latin America to understand the real status of informality and unemployment. Informality was present in a variety of sectors, including the auto repair market, in which today is concentrated the majority of transactions, however, they do not have the tools or knowledge to grow, impacting its service, quality, and overall supply chain.
Considering the relevance of this industry in the region and the impact it has on the emerging-middle-class, we took on the challenge to create a chain of car centers providing quality, growth opportunities for the shop owners and operators that are aiming to secure social and economic development for them and their families.
Autolab is redefining a traditional industry by providing the best value proposition in the market. Now, shop owners are empowered thanks to the professionalization of their independent businesses and car owners are having a transparent, interactive, and fully digital experience.
The Venture Today
Autolab has achieved product-market-fit in Colombia, securing outstanding metrics of satisfaction and retention:
- 94% of retention from Repair Shops
- 5-star rating from 90% of our client base
- 700% Increase in profit for shops in our network
- 7x growth of their shop network since July of 2020
- Strong leadership team with combined expertise in product, tech, and operations
What the future holds
Autolabs’ adoption in the Colombian market plus the expertise of the founding team building and evolving this solution, unlock expansion opportunities for Latinamerican markets experiencing similar challenges. The company has already started its expansion to Mexico where they initiated operations in 2021. In the upcoming 2 years, the company will continue to expand to Peru, and Brazil, increasing its presence to over 20 cities and its network to 450 shops.