Evaluating only Increase (Argentina)’s profile at its peak — without knowing the outcome — the model ranked Regulation as the #1 likely cause. Documented cause: Founder chaos.
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Documented cause
Increase built a payment reconciliation platform for Argentine businesses processing card payments. After raising $20M and growing to 3,000 business customers, a co-founder dispute over strategy and equity split emerged in 2022. The conflict became irreconcilable, leading to the departure of key technical co-founders and a significant loss of product development capacity. The company never recovered its pre-conflict velocity.
Lesson
“Co-founder agreements must specify conflict resolution mechanisms before the conflict exists. By the time a co-founder dispute is irreconcilable, the damage to the team and product is already done.”
FAQ
What happened to Increase Argentina?
Increase, an Argentine payment reconciliation SaaS with $20M raised and 3,000 customers, suffered a co-founder dispute in 2022 that led to key technical co-founders leaving. The company lost product development capacity and never recovered its previous velocity.