In the dynamic tapestry of entrepreneurship, stories of triumph often emerge from unexpected corners. The saga of Edrizio De La Cruz, an Afro-Latino entrepreneur, is a testament to the indomitable spirit that propels individuals from humble beginnings to the pinnacles of success. From navigating the challenges of immigrant life to orchestrating the sale of his company, Arcus, to Mastercard in 2021, De La Cruz’s journey is a modern-day rags-to-riches parable, illustrating the transformative power of resilience, determination, and the pursuit of the American dream. What makes this narrative even more profound is its chronicling in De La Cruz’s book, “Underdog Founder.”
Edrizio De La Cruz’s narrative commences in the Dominican Republic, where he was born into a family grappling with financial constraints. Driven by the vision of a better life, his family embarked on the courageous journey to the United States, ultimately settling in New York City. Adapting to a new culture and surmounting language barriers were everyday hurdles for the De La Cruz family. Edrizio saw challenges not as impediments but as stepping stones for personal growth.
Despite economic hardships, De La Cruz harbored an unwavering commitment to education to uplift himself and his family. His collegiate years were cut short and he dropped out but he later went on to get an MBA from Wharton which became a crucible for developing his entrepreneurial spirit. When asked for a piece of advice to his younger self he mentioned “Where you are is not where you will be, it’s part of who you are becoming. So embrace the heartaches, embrace the pain, embrace the tragedy, because if you can do that enough, you’ll become unstoppable”. This mindset is how he immersed himself in business and technology, acquiring insights that would prove instrumental in shaping his future success.
The turning point in Edrizio’s entrepreneurial journey came with the co-founding of Arcus, a fintech startup facilitating international money transfers and payments. Rooted in a desire to simplify the process for immigrants sending money back to their home countries, Arcus quickly gained traction in the fintech sector. Edrizio’s personal connection to the problem at hand fueled the platform’s innovation and success, providing a much-needed solution to a widespread issue.
Building a startup is synonymous with challenges, and De La Cruz faced his share. Arcus’ path to success was marked by tenacity and strategic decision-making, from securing funding to navigating the complex regulatory landscape. Edrizio’s leadership became a guiding force, steering the company through obstacles and transforming setbacks into opportunities for growth.
Industry giants noticed Arcus’ success, and in a pivotal moment for Edrizio and his team, Mastercard expressed interest in acquiring the company in 2021. This acquisition represented more than a financial triumph; it validated Arcus’ impact and innovation in fintech. The deal brought financial rewards and opened doors to new possibilities for collaboration and a broader impact.
Edrizio De La Cruz’s journey from immigrant struggles to selling his company to Mastercard transcends personal success; it is a testament to the transformative power of entrepreneurship. His commitment to addressing the financial challenges immigrant communities face and his ability to build a successful business underscore the potential for positive change through hard work and vision.
What adds an extra layer of depth to Edrizio’s story is the publication of his book, “Underdog Founder.” In this compelling account, De La Cruz delves into the intricacies of his entrepreneurial journey with Arcus, providing readers with a front-row seat to the triumphs and tribulations that marked his path to success. “The goal is to be that playbook and guide for my younger self, for the young Endrizio at 19 who was lost, who didn’t know how to take that first step and didn’t know it was possible. I want to reach that kid from East Harlem, East LA, and South Side Chicago who doesn’t think it’s possible and show them it is possible, not despite your circumstances but because of them. Your roadblocks in your way become the way,” he comments on his work. The book serves as a memoir and a guide for aspiring entrepreneurs, offering valuable insights, lessons learned, and a roadmap for navigating the unpredictable business terrain.
In a captivating interview on the “Nuestro Stories” podcast, Edrizio De La Cruz shared insights into his remarkable journey that culminated in acquiring his business by Mastercard in 2021. De La Cruz, who co-founded the company and raised a substantial $20 million in funding through Y Combinator, emphasized the transformative goal of making cross-border transactions more accessible, particularly from underdeveloped to developed countries. He mentions “ the goal was to revolutionize the way money was sent between a developed and an underdeveloped country where I came from. I am an immigrant from Santo Domingo who grew up using remittance … so i knew in the 20 years since I migrated it hadn’t gotten any cheaper or faster”. As he reflected on his leadership role, De La Cruz highlighted the importance of being both formidable and diplomatic to successfully navigate the challenges of being a CEO. In a moment of introspection, he expressed his sole regret—wishing he had initially treated the venture more as an experiment than a business. This admission speaks to the evolving nature of entrepreneurship and the invaluable lessons learned along the path to success. Edrizio’s story inspires, encapsulating the essence of resilience, strategic thinking, and the continuous pursuit of improvement in the dynamic business world. He states “The book is not about money, but I want to make sure that as many young people get access to the stories because the stories are powerful and can change a young person’s personal trajectory”.
Edrizio De La Cruz’s life embodies the essence of the American dream, showcasing that individuals, irrespective of their background, can achieve success through determination, innovation, and hard work. When asked what differentiates his book from others he states “ There are lots of books about startups, but none from the perspective of an underrepresented founder, who typically has to deal with several other factors”. His odyssey from immigrant struggles to the acquisition of Arcus by Mastercard serves as a beacon of hope for those facing adversity, demonstrating that dreams can be turned into reality with resilience and a visionary mindset. Edrizio’s story, chronicled in “Underdog Founder,” will undoubtedly inspire generations to come, encouraging them to pursue their aspirations with unwavering resolve and a commitment to positively impacting the world.
