'PayPal Ventures Invests In Prometeo'
Portfolio Pulse from Benzinga Newsdesk
Prometeo, a fintech infrastructure firm, has raised $13 million in Series A funding led by Antler Elevate, with PayPal Ventures, Samsung Next, and others participating. The funds will expand its multi-banking data and payments offerings in Latin America. Prometeo's platform connects global corporations with over 283 financial institutions in the region through a unified API, aiming to standardize financial operations across Latin American markets.
January 12, 2024 | 9:04 pm
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PayPal Ventures, the investment arm of PayPal, participated in Prometeo's $13 million Series A funding round. This investment could enhance PayPal's connectivity and services in the Latin American financial market through Prometeo's infrastructure.
PayPal Ventures' investment in Prometeo indicates a strategic move to strengthen PayPal's presence in Latin America. The investment in a company that provides a unified API for financial operations in the region could lead to potential growth opportunities for PayPal's services. This could be seen positively by investors, likely resulting in a short-term positive impact on PayPal's stock price.
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