Mexico’s Gaszen Raises $700k, Uses Roof Meter to Tell Mexican Households When Gas Is Almost Empty with CEO Jennifer Reyna

Jennifer Reyna

In Episode #629, Nathan interviews Jennifer Reyna. She’s got a lot of energy and more importantly, she studied business creation and development in Mexico. She’s created 3 startups so far, AgriDeliCo which is a socio-company, Brain Fusion which is embedded in software development and Gaszen or gas management. They’ve raised over $650K in Mexico and have developed their own working product. She’s a mother, lover, sister and daughter that enjoys her life and lives with zero regrets. She said, after all, there’s only one life and she’s in a constant pursuit of the best version of herself.

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Famous Five:

  • Favorite Book? – Lean Startup
  • What CEO do you follow? – Elon Musk
  • Favorite online tool? — Slack
  • Do you get 8 hours of sleep?— 6
  • If you could let your 20-year old self, know one thing, what would it be? – “That hard work can make everything happen for sure”

Time Stamped Show Notes:

  • 01:34 – Nathan introduces to the show
  • 02:22 – Jenny realized that people complain about their gas
    • 02:38 – Jenny created a device which goes to stationary tanks
    • 02:48 – Gaszen has an application where the consumer can see his gas consumption, statistics and choose the best gas supplier
    • 02:59 – Gaszen monetize through selling information to gas suppliers
    • 03:08 – Gaszen also monetize from a consumer who wants an automation
  • 03:34 – Gaszen isn’t on the market yet and still finishing their development
    • 03:41 – Gaszen will start selling in April
    • 03:43 – Gaszen already approached gas suppliers and pre-ordered from them
  • 03:57 – There are already 2 gas suppliers who bought from Gaszen
  • 04:05 – Gaszen also has real estate clients
    • 04:31 – Gaszen has already partnered with 3 real estates
    • 04:35 – Gaszen is currently in a discussion 15 more real estate in Mexico
  • 04:48 – Real estates buy the device for $ 77
    • 04:59 –The device will go directly to the buyer of the house
  • 05:21 – Gas suppliers get a more discounted price for bulk number of devices
  • 05:48 – Mexico has problems with gas supplier regarding updates
  • 06:08 – Each gas supplier bought 5k units of the device
    • 06:19 – The amount per piece will be $ 50
  • 06:38 – Having clients before the actual launch of the product is good for Gaszen
  • 06:49 – Gaszen’s first Kickstarter
    • 07:07 – Gaszen raised 80K Mexican peso
    • 07:19 – Gaszen had 111 backers
  • 07:41 – Gaszen is B2B focused
  • 07:48 – Gaszen has raised their first seed round with a total of $ 350K
    • 08:05 – It was an equity round
  • 08:14 – Gaszen started 2 years ago
  • 08:26 – Gaszen had Angel investors and won the biggest Hackathon in the world
    • 08:47 – Gaszen raised $ 300k with Angel investors
  • 09:13 – From the gas suppliers, Gaszen charges after the 6-month, a monthly fee is charged per device or per device and user
  • 09:32 – Gaszen charges 9 Mexican pesos per automated service
  • 09:59 – Gaszen has no MRR currently
  • 10:23 – Team has 5 people in management and 3 junior engineers
    • 10:43 – The team is based in León Guanajuato, México
  • 11:03 – It costs Gaszen $36 to make the device
    • 11:30 – The whole device is made in Mexico
  • 11:43 – The volume needed for the device per year is 50K units to get a better price
  • 12:13 – Gaszen wants to keep manufacturing in Mexico if possible
  • 13:45 – The Famous Five

3 Key Points:

  1. Look at the most common problem and create a solution.
  2. If you can keep sourcing and manufacturing locally and with a good price, the better.
  3. Keep at it—hard work definitely pays off.

Resources Mentioned:

  • The Top Inbox – The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
  • Organifi – The juice was Nathan’s life saver during his trip in Southeast Asia
  • Klipfolio – Track your business performance across all departments for FREE
  • Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments
  • Host Gator– The site Nathan uses to buy his domain names and hosting for the cheapest price possible
  • Audible– Nathan uses Audible when he’s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books
  • Freshbooks – Nathan doesn’t waste time so he uses Freshbooks to send out invoices and collect his money. Get your free month NOW
  • Show Notes provided by Mallard Creatives