Priya Patel
TLDR: PayPal and Samsung have joined a $13 million funding round in LatAm embedded banking vendor Prometeo.<\p>
PayPal and Samsung were joined by lead investor Antler Eelevate with support from DN Capital and existing backers Comete and Magma Partners. <\p>
Prometeo’s embedded banking software platform provides its clients with automated access to bank information and payments from more than 283 financial institutions in 10 countries throughout Latin America via a single API. <\p>
Ximena Aleman, co-founder and co-CEO of Prometeo, comments: “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.” <\p>
