A private equity bet in Latin America proves the strength of fintech investments there

TechCrunch | 1/22/2019 | Staff
dewbydewby (Posted by) Level 4
Click For Photo: https://techcrunch.com/wp-content/uploads/2017/03/487707471.jpg?w=378

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...
(Excerpt) Read more at: TechCrunch
Wake Up To Breaking News!
The only change you ever get from the goverment is what's in your pocket, and worth less every day.
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!