lesskomplex targets the friction between ubiquitous Excel usage and complex corporate IT infrastructures, specifically within the banking and large enterprise sectors. By positioning itself as a bridge that allows Excel-based improvements to be 'coupled' with core systems, the company aims to capture a slice of the serverless market, which it projects to reach $14.9 billion by 2023. The business model is bifurcated: a PaaS offering priced at double the Amazon serverless rates for large companies, and a SaaS offering at $5,000 monthly per banking product. While the deck provides clear pricing…
Key takeaways
- The company identifies a massive user base of 'one billion Excel's programers' as the primary entry point for their solution (Slide 2).
- The core value proposition is the ability to 'couple' Excel-based logic with corporate systems, using a space station docking metaphor (Slide 3).
- lesskomplex positions itself as having higher integration with corporate systems compared to competitors like Airtable and Coda (Slide 4).
- The TAM for the serverless market is cited at $14.93 billion for 2023, with a CAGR of 28.6% from 2018 (Slide 5).
- Revenue is generated through two streams: PaaS (2x Amazon serverless charges) and SaaS ($5,000 monthly per banking product) (Slide 6).
- The go-to-market strategy for the first year explicitly excludes SMEs (PYMES) and medium businesses, focusing solely on large companies and banks (Slide 7).
- The team includes a '10x programmer' and a serial entrepreneur, supported by a testimonial from the Manager of BCI Labs (Slide 8).
- The deck was originally prepared for a Walhalla Capitals Workshop in Santiago in March 2019 (Slide 1).
Introduction and Context
The lesskomplex investor deck, as presented in this teardown, was originally developed for a Walhalla Capitals Workshop held in Santiago in March 2019. The presentation focuses on the application of proprietary technology to the banking and large enterprise sectors. A key distinction made early on is the relationship with a subsidiary called Total Fact, which utilizes the same core technology to provide payment automation and adjustable business logic for payment processes.
Slide 1: Title and Context
The opening slide serves as a disclaimer and context setter. It states that the presentation was prepared for a specific workshop in Santiago. It introduces the core premise: proprietary technology applied to banking and large companies. It also mentions a subsidiary, Total Fact, which uses this technology for payment automation. This slide is text-heavy and functions more as a preamble than a traditional cover slide, establishing the professional and regional context of the pitch.
Slide 2: The Problem - The Excel Burden
Slide 2 uses a stark visual of a frustrated businessman looking at a green clipboard labeled 'Excel.' The text 'One billion Excel's programers' (sic) identifies the scale of the problem. The implication is that while a billion people use Excel to manage business logic, this logic is often trapped in silos, disconnected from the broader corporate infrastructure. The misspelling of 'programmers' is a minor but noticeable detail in the header.
Slide 3: The Solution - The Space Station Metaphor
The solution slide uses a high-concept metaphor involving a spacecraft docking with a space station. The spacecraft is labeled 'Excel.' The text explains that the platform allows a user to write a program in a 'simple way' (presumably within Excel), which the platform then encapsulates and 'sends back to space' to be 'automatically coupled with the space station.' This is a creative way to describe middleware or an integration layer that allows spreadsheet logic to become part of a live, production-grade corporate system without manual deployment hurdles.
Slide 4: Competitive Landscape
This slide features a 2x2 matrix comparing 'Ease of use' against 'Integration with Corporate Systems.' The competitors listed are Coda and Airtable, both of which are placed high on the ease-of-use axis but lower on the integration axis. lesskomplex places itself at the far right of the 'Integration' axis, suggesting that while it may be slightly less 'easy' than a pure no-code tool, its value lies in its ability to talk to legacy or complex corporate environments. VisiCalc is shown on the left, likely as a nod to the history of the spreadsheet market.
Slide 5: Market Size and Projections
Slide 5 provides the quantitative justification for the business. It cites a TAM (Total Addressable Market) of $14.93 billion for the serverless market by 2023. The SAM (Serviceable Addressable Market) is pegged at $2.75 billion, and the company’s SOM (Serviceable Obtainable Market) is $450 million. The slide notes a CAGR of 28.6% from 2018 to 2023. A callout box specifies that the company aims to reach that $450 million annual sales figure within 5 to 7 years. The data is attributed to Markets and Markets.
Slide 6: Business Model
The business model is clearly defined on Slide 6, accompanied by an image of a vintage cash register. The revenue streams are split into two categories: PAAS (Platform as a Service) , where they charge 2x the cost of Amazon serverless platform charges, and SAAS (Software as a Service) , which is a flat fee of $5,000 USD monthly per banking product. This indicates a strategy that captures both infrastructure-level usage and high-value industry-specific applications.
Slide 7: Go-To-Market Strategy
Slide 7 outlines the first-year target market. Using a visual of a hand selecting 'BANCOS' (Banks) and 'GRANDES' (Large Companies), it explicitly crosses out 'PYMES' (SMEs) and 'MEDIANAS' (Medium-sized businesses). The text confirms that the SaaS offer is for the banking industry, while the PaaS offer is for large companies. This shows a disciplined focus on high-contract-value clients rather than trying to boil the ocean with a self-serve model for small businesses.
Slide 8: The Team
The 'Equipo' slide introduces three key members: Pablo Palma (CEO), José María Marchant (Director Comercial), and Emmanuel Aguilar (CTO). The CTO is notably described as a '10x programmer' with expertise in computer vision. The right side of the slide is dedicated to a testimonial from Edgardo Ochoa, Manager of BCI Labs, who praises the team's obsession with the problem and their ability to generate quality solutions. This external validation is a strong trust signal for potential investors.
Slide 9: Closing Slide
The final slide repeats the space station docking imagery with the text 'Perfect coupling...' and a 'Thanks you' (sic) speech bubble. It reinforces the core brand message of seamless integration one last time before ending the presentation.
What Works
The deck is highly focused. By explicitly excluding SMEs and medium businesses in Slide 7, the founders demonstrate an understanding of where their technology provides the most value: in complex environments where 'coupling' is difficult. The business model on Slide 6 is also refreshingly specific. Instead of vague 'contact us for pricing,' they provide a clear multiplier for PaaS and a flat monthly fee for SaaS, which allows investors to model potential returns easily. The use of the space station metaphor, while perhaps a bit abstract, effectively communicates the 'plug-and-play' nature of their integration technology without getting bogged down in API documentation or technical jargon.
What is Missing
The most significant omission in these slides is a clear 'Ask.' There is no mention of how much capital the company is looking to raise, the valuation they are seeking, or how the funds will be allocated (e.g., hiring, R&D, sales). Additionally, while the deck mentions 'proprietary technology' multiple times, there is no slide explaining the 'how'—the underlying architecture that allows an Excel sheet to be 'encapsulated' into a corporate system. From a risk perspective, there is no mention of the security or compliance hurdles that are inherent when dealing with banking systems, which would be a primary concern for any institutional investor in the fintech space. Finally, the deck lacks a roadmap beyond the 'first year' mentioned in Slide 7.
Founder Takeaways
Define your 'No' early: One of the strongest parts of this deck is Slide 7, where the founders explicitly state who they are NOT targeting. By crossing out SMEs, they signal to investors that they aren't going to waste resources on low-margin, high-churn customers. Founders should copy this level of market discipline.
Use metaphors for complex tech: If your product is a middleware or a complex integration layer, don't start with a diagram of a database. The space station metaphor in Slide 3 is memorable and explains the value proposition (integration) in three seconds. Use visuals to explain the 'what' before you explain the 'how.'
Anchor your pricing: The PaaS pricing model (2x Amazon charges) is a clever way to anchor value. It tells the investor that the product is a value-add on top of existing infrastructure costs, making the pricing feel logical rather than arbitrary. If you are building on top of another platform, consider using their pricing as a benchmark for your own.
Frequently asked questions
- What exactly does lesskomplex do?
- Based on Slide 3 and Slide 1, lesskomplex provides a platform that allows users to write improvements or business logic in Excel and then 'encapsulate' and 'couple' that logic directly into large corporate or banking systems. It essentially acts as a middleware that turns spreadsheet-based logic into functional, integrated enterprise software without requiring traditional manual coding by IT departments.
- How does the company plan to make money?
- As shown on Slide 6, the company uses a dual-track business model. For the Platform as a Service (PaaS) side, they charge twice the rate of Amazon's serverless platform fees. For the Software as a Service (SaaS) side, which is targeted at the banking industry, they charge a flat fee of $5,000 USD per month for each banking product integrated.
- Who are the primary competitors mentioned?
- Slide 4 identifies Coda and Airtable as modern competitors. It also includes a nostalgic reference to VisiCalc. The slide uses a 2x2 matrix to argue that while Coda and Airtable offer high 'Ease of Use,' lesskomplex offers superior 'Integration with Corporate Systems,' which is the key differentiator for their enterprise-heavy target market.
- What is the market opportunity for this technology?
- Slide 5 cites a 'Serverless Architecture Markets' report from Markets and Markets. It lists a Total Addressable Market (TAM) of $14.93 billion by 2023. The company sets a Serviceable Obtainable Market (SOM) goal of $450 million in annual sales within a 5 to 7-year timeframe, riding a market CAGR of 28.6%.
- Who is behind lesskomplex?
- Slide 8 introduces the leadership: Pablo Palma (CEO), a serial entrepreneur; José María Marchant (Director Comercial), with experience in transnational tech marketing; and Emmanuel Aguilar (CTO), described as a '10x programmer.' The slide also features Edgardo Ochoa from BCI Labs, who provides a testimonial regarding the team's obsession with solving complex corporate problems.
