LatAm List – Private equity firm, Advent International, recently announced that they had purchased a 51% stake in Argentine fintech company, Prisma Medios de Pago, pushing its valuation above US$1B. Prisma, created as a joint venture between Visa and several local Argentine banks, is now valued at US$1.42B.
Prisma is one of Latin America’s largest financial services providers, including POS hardware, e-commerce payment gateways, and electronic bill pay options. The fintech company joins several other Argentine companies valued above US$1B including Despegar, OLX, and MercadoLibre, as well as Latin American fintech unicorns Pagseguro and Nubank.
Fintech investment in Latin America has grown exponentially over the past few years and often represents one of the largest sectors of VC investment in the region. With low levels of financial inclusion and relatively high tech penetration, Latin America is a massive market opportunity for fintech startups, which have appeared in every country in the region.
Read more in TechCrunch.