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PayPal Ventures Invests in Prometeo

January 15, 2024

The scalability, reliability, and commitment of the platform to the highest industry standards have solidified Prometeo as the preferred choice for both large corporations and rapidly growing startups in the financial industry.
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Prometeo, a leading fintech infrastructure company connecting global corporations with financial institutions in Latin America, today announced that it has raised USD $13 million in Series A funding. The round was led by Antler Elevate with participation from new investors PayPal Ventures, Samsung Next and partners from DN Capital, as well as existing backers including Cometa and Magma Partners. The company plans to use the funds to expand its multi-banking data and payments offerings in the region.

Prometeo’s unique platform provides the technological infrastructure that enables global corporations to seamlessly connect into the financial systems of Latin America. Prometeo’s embedded banking software platform provides its clients with simple and automated access to bank information and payments from more than 283 financial institutions in 10 countries throughout Latin America, all through a single, unified API. With Prometeo, clients around the world are able to connect into Latin America in a simpler, faster, and more secure way, while also reducing friction and costs.

Ximena Aleman, Co-Founder and Co-CEO of Prometeo, said, “We have always believed that Latin America can function as a unified market, despite the fact that financial technology infrastructures differ throughout these countries. Our vision has consistently been focused on consolidating these diverse infrastructures under one single API, thus providing the essential layer of standardization required to deliver efficient financial operations across Latin America. Closing our Series A funding round confirms that Prometeo has played a key role thus far. We are now in an optimal position to capitalize on this market opportunity and to continue to add value to banks, fintechs, corporations and partners alike.”

“At Antler Elevate, we are committed to investing in companies that are not just innovators but also game-changers in their fields. Prometeo, with its simple single API, provides banks and financial institutions access to payments and data throughout the entirety of Latin America. We are excited to partner with Ximena and Rodrigo to build a company that's not just advancing technology, but also empowering businesses to reach new heights of success” said Fady Abdel-Nour, Partner at Antler Elevate.

Prometeo's flagship offering includes its robust cross-border multi-banking data aggregation platform, account validation services and real-time payments. Prometeo’s architecture has emerged as the go-to option for industry giants. The platform's scalability, reliability, and commitment to meeting the highest industry standards have solidified its position as the preferred choice for both large corporations and high-growth startups in the financial industry.

“Major banking and corporate clients trust Prometeo to support their financial operations because of our unwavering dedication to safety and compliance,” said Rodrigo Tumaián Co-Founder and Co-CEO of Prometeo. “We have meticulously designed Prometeo’s platform architecture to meet and exceed the legal and compliance standards of the industry, providing our clients with a secure environment where they can confidently conduct their operations.”

By leveraging its robust platform and extensive network of APIs, Prometeo aims to facilitate seamless connections, fostering a more integrated and efficient flow of financial operations. This significant step will position the company as a pivotal player in driving global financial connectivity, making Latin America more accessible and interconnected for international businesses.

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