Dominique Croce, Fintech entrepreneur in Argentina

French HEC Alumnus, Dominique Croce, co-founder and Chief Product Officer (CPO) of Yopit PAGO, has a pathway that blends entrepreneurial passion with market opportunities in Argentina. His story was brought to us by Camille Boussier and Joséphine Van Eecke, the 8th generation of HEC United, an initiative by HEC Paris students who travel around the world to interview HEC alumni. From his beginnings at HEC Paris, to his various ventures in Argentina, his journey is a lesson of resilience and strategic vision. If you're a French YouTube fan, his last name will ring a bell - find out why in this article!
 

From HEC Paris to Buenos Aires: How education paves the way

Dominique’s journey began at the ESTP engineering school, followed by a master in entrepreneurship from HEC Paris: The MSc X-HEC Entrepreneurs. His education laid the groundwork for his future endeavors in entrepreneurship and the fintech world in Argentina. 

HEC Paris played a crucial role, not just from an academic point of view, as it also inspired him to be confident and to explore several entrepreneurial paths. 

“The main learning which has been useful since the beginning and still is now, is this ‘can do’ mentality. (...) The school believes in us, the classmates believe in us… We came out of the program saying ‘We can do anything’.”

His decision to move to Argentina was driven by both love and opportunity. "I met my wife at HEC," Dominique explains. "She had been living in Argentina for 30 years and studied at Di Tella University and did a double diploma with HEC with a master in Entrepreneurship, and I did the same master. (...) She convinced me that it was better to do business in Argentina."

A serial entrepreneur and innovator

In Argentina, Dominique found ample opportunities to explore his entrepreneurial spirit. His first venture was a tool wholesale business, and he then acquired a hat and caps wholesaler in 2011. This company became one of Argentina's leading hats and caps importers.

Seeing the potential of e-commerce, Dominique launched a ‘Groupon-style’ e-commerce website in Argentina, capitalizing on the trendy concept of group buying at this time. Despite being sold after just seven months, this venture showcased his ability to leverage emerging market trends.

In 2017, he founded Yopit PAGO, initially named BenkoPay, a QR code payment app for retailers inspired by Chinese payment systems. “Today, when you walk around Buenos Aires, it’s easy to see that 70% of retailers accept QR code payment. Back then, it didn't exist,” Dominique emphasizes, highlighting once again his ability of seizing market opportunities.

Overcoming market challenges and seizing new opportunities

At this time, the Argentina Central Bank's regulation mandating a common QR standard further facilitated rapid market adoption. Mercado Pago, the local equivalent of PayPal, quickly dominated the market with its millions of users. Therefore, it was easier for the company to convince the retailers, whereas Dominique had to convince both consumers and retailers. 

However, Dominique adapted by selling his e-wallet expertise in white-label, as a lot of companies wanted their own electronic wallet. By seizing this opportunity, he attracted the attention of large distribution groups, and sold Yopit PAGO in 2021. 

Not only focused on fintech, Dominique and his wife recently launched Academia Karina Gao, an online platform offering cooking courses. “That’s my wife's name, who is a famous chef in Argentina.” Dominique explains. 

Entrepreneurship, a family affair

Balancing family and work, Dominique manages his entrepreneurial ventures while being a father of three. "I don't have a fixed routine. I plan my days generally in the evening, based on meetings and my kids' timetables. I'm organizing my day from one day to another." he explains.

Adding another layer to his multifaceted story, Dominique is the brother of Pierre Croce, a well-known French YouTuber. This connection highlights that entrepreneurship and creativity run in the family. 

Pierre Croce popular YouTube content may focus on humor and entertainment, but Dominique's is focusing on the world of Tech and its popularization.

He manages an Instagram account where he creates content that simplifies tech topics for his audience, covering areas like cryptocurrency and blockchain. His aim is to make technology accessible to everyone.

The importance of good timing, perseverance and… boredom!

For the entrepreneurs of both today and tomorrow, Dominique underlines the paramount importance of time to market and perseverance.

"Being early is not good, being late either, you have to arrive at the right time," he affirms. Equally crucial is perseverance. Indeed, the challenges are relentless, but determination often determines success.

One of his uncommon pieces of advice is to embrace boredom. “Boredom is really important. (...) In fact, we consume a lot of information, and forget about getting bored and taking the time to think.” As our modern society has lost this ability, he firmly believes that these precious moments of boredom enable you  to focus on yourself and think about things.

To find out more about what it is like to launch a business in Argentina, listen to the full interview.

For more inspiring stories and insights from HEC Alumni, check out the HEC United Youtube playlist.

About HEC United

HEC United is an ongoing student-led project that creates a connection between current HEC students and thousands of alumni spread across the world. A team of two students travels to various countries each year to interview alumni about their experiences during and after their time at HEC.