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mare fodor

T2 · manager / operator

Founded Atrápalo (travel) and Cantox (FX risk SaaS, sold €120M). Partner at For Founders early-stage VC. Active angel in primary sector: Monferran (truffles), Nogales (walnuts), Adopta un Buey. Advocates contrarian SaaS investing amid AI hype.

6 calls·6 names·83% bull·last heard 4 months ago·SeedRocket TV
track record

no scored calls yet — needs a stated position or a categorical verdict, with a matured window vs SPY

top calls

highest conviction · one per company
1sthigh conviction
$FOR-FOUNDERSFor Foundersposition

VC fund doubles down on 'boring' SaaS with data moats and transaction pricing while hype chases AI

Contrarian thesis: SaaS valuations normalized to 5-6x revenue; winners are vertical SaaS accumulating proprietary data (Ecostars hotel sustainability) or transaction-based pricing immune to AI agent seat disruption (Enbat banking, Cantox FX, GuruSub support).

SeedRocket TV2026-04→
2ndmedium conviction
$ECOSTARSEcostarsposition

Hotel sustainability SaaS builds data moat for AI-powered intelligence layer

Accumulates proprietary hotel sustainability data enabling AI-driven insights; follow-on investment at reasonable valuation as horizontal SaaS multiples compress.

SeedRocket TV2026-04→
3rdmedium conviction
$ENBATEnbatposition

Treasury management SaaS pivots to banking license with transaction-based pricing

Uses SaaS as wedge to become neobank; subscription+transaction model avoids per-seat AI disruption; follow-on at high valuation justified by banking license optionality.

SeedRocket TV2026-04→

most discussed · click a bar to filter

recurring themes

6 total
$CANTOX
Cantox
MEDmare fodor·SeedRocket TV·4 months ago
FX risk SaaS sold for €120M; transaction-revenue model thrives on geopolitical volatility
Subscription + transaction fee model benefits from volatility spikes (war drives hedging volume); proven exit validates transaction-based SaaS resilience vs seat-based models.
"Cantox era para automatizaba es automatiza la gestión de riesgo de divisas... cobra suscripción, pero luego cobra como un un una comisión de transacción. Entonces, cuando transacc…"
8:22
$FOR-FOUNDERS
For Founders
HIGHmare fodor·SeedRocket TV·4 months ago· position
VC fund doubles down on 'boring' SaaS with data moats and transaction pricing while hype chases AI
Contrarian thesis: SaaS valuations normalized to 5-6x revenue; winners are vertical SaaS accumulating proprietary data (Ecostars hotel sustainability) or transaction-based pricing immune to AI agent seat disruption (Enbat banking, Cantox FX, GuruSub support).
"nosotros creemos queas que va a sufrir mucho yas que puede apalancarse en la IA. En esos nosotros queremos seguir invirtiendo. SAS que puede sufrir mucho... SAS que que sigue func…"
41:02
$PUNTO-POST
Punto Post
LOWmare fodor·SeedRocket TV·4 months ago· position
Mexican impost (tax/compliance) platform uses AI but not an AI company
Vertical B2B software in Mexican market leveraging AI internally; attractive because overlooked by AI-hype-focused investors.
"tercera empresa es es un es punto post, ¿no?, que que es un impost eh mexicano que obviamente seguramente utiliza la IA, pero no es una empresa de no es una empresa de SAS."
47:14
$ECOSTARS
Ecostars
MEDmare fodor·SeedRocket TV·4 months ago· position
Hotel sustainability SaaS builds data moat for AI-powered intelligence layer
Accumulates proprietary hotel sustainability data enabling AI-driven insights; follow-on investment at reasonable valuation as horizontal SaaS multiples compress.
"Ecostars trabaja con datos de sostenibilidad en el sector hotelero... ellos acumulan una serie de datos y encima de esos datos pueden construir determinada inteligencia... la prop…"
43:44
$ENBAT
Enbat
MEDmare fodor·SeedRocket TV·4 months ago· position
Treasury management SaaS pivots to banking license with transaction-based pricing
Uses SaaS as wedge to become neobank; subscription+transaction model avoids per-seat AI disruption; follow-on at high valuation justified by banking license optionality.
"la tesis es un poco diferente. Ellos no acumulan datos que datos es el petróleo de la IA... la propuesta de valor va más allá de SAS... quiere apalancar SAS para ir hacia una lice…"
44:10
$GURUSUB
GuruSub
MEDmare fodor·SeedRocket TV·4 months ago· position
AI customer support agent disrupts Zendesk with per-resolution pricing vs per-seat
Replaces seat-based helpdesk model with outcome-based pricing; AI agents handle volume without linear cost increase, destroying incumbents' unit economics.
"por eso hemos invertido en Gurusub. Gurusub tiene agentes que te ayuda a hacer atención al cliente... Gurusub ya no cobra por asiento, sino cobra un fi muchísimo más bajo y te des…"
46:07