Regardless of trillions of {dollars} shifting via banking networks in Latin America (LATAM), real-time knowledge entry is restricted, and cost flows are sluggish and costly. Multinational monetary establishments face extra challenges when working within the area as a consequence of working in numerous international locations, every with distinctive monetary infrastructure. Prometeo affords cross-border knowledge aggregation, streamlined digital funds, and account validation companies and has demonstrated sturdy progress in direction of enabling funds and knowledge to circulation seamlessly in LATAM.
With a $5 trillion GDP economic system and 650 million individuals dwelling within the area, the potential for Prometeo is staggering. The market potential is bolstered by the expansion of digital funds in LATAM. Prometeo is not only one other fintech participant although; it’s the chief in providing Pan-LATAM open banking API protection. With greater than 350 connections to just about 280 monetary establishments throughout 10 international locations and each knowledge and funds choices, Prometeo is the “first mover” in an business the place switching prices are excessive.
The corporate’s deal with B2B monetary infrastructure via a single, unified API distinguishes it, with Prometeo being a single supply for the direct funds, checking account administration and ID verification, essential for scaling operations. This strategy positions Prometeo as a frontrunner, particularly when in comparison with opponents who usually think about a single market or a selected product. The skilled management group anchored by co-CEOs Ximena Aleman and Rodrigo Tumaián provides to Prometeo’s power. The corporate has gained vital traction, securing key clients like J.P. Morgan, Citi, Santander SuperDigital, and RappiCard. We’re thrilled to affix Antler Elevate, PayPal Ventures, companions from DN Capital, and current backers Cometa and Magma Companions in Prometeo’s Sequence A.
Prometeo’s imaginative and prescient is obvious – to be the interoperability engine driving swift and environment friendly funds and knowledge circulation throughout LATAM. As open banking good points momentum globally, Prometeo’s pioneering position in LATAM positions it as a vital participant in shaping the area’s monetary future. As LATAM embraces open banking, Prometeo stands on the forefront, able to redefine the monetary expertise throughout the area.
Carlos Castellanos is an investor at Samsung Subsequent. Samsung Subsequent’s funding technique is restricted to its personal views and doesn’t mirror the imaginative and prescient or technique of some other Samsung enterprise unit, together with, however not restricted to, Samsung Electronics.
