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Latin America is getting another fintech unicorn thanks to Advent International’s acquisition of a 51 percent stake of Prisma Medios de Pago, an Argentine payments company formed as a joint venture between Visa International and local banks.
The deal, which values Prisma at $1.42 billion, is yet another sign of Latin America’s growing prominence for global investment and the central role that fintech plays in the development of an innovation economy in the region.
Prisma - Medios - Pago - Payments - Company
Prisma Medios de Pago is the leading payments company in Argentina, and one of the largest in Latin America, with a full suite of services including point-of-sale hardware rental, e-commerce gateways, transaction processing, payments processing and electronic bill pay.
Its newest business line, TodoPago, offers peer-to-peer payments, mobile wallets, point of sale offerings, QR code payments and e-commerce payments to merchants.
Latin - America - Fintech - Startups - Valuations
Across Latin America, fintech startups have hit billion-dollar valuations and raised hundreds of millions as investors vie for a piece of the region’s growing e-commerce and financial services markets.
Brazil’s StoneCo Ltd., a provider of payment technology and services, is worth more than $6 billion after its October 2019 initial public offering. It’s a decline from the $9 billion pop the company had back when it debuted on the Nasdaq, but still represents a...
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