Prósperos, a tech company focused on delivering a powerful financial platform for the Spanish-speaking Western hemisphere, has raised $3m.
The funding round saw participation from FEBE Ventures, BAT VC, Tekton Ventures, Courtyard Ventures, and several technology executives.
Founded in 2023 by Vinay Pai and Salvador Chavez, Prósperos aims to empower millions of Latinos by providing an innovative financial platform. This platform enables users to manage their finances while supporting their families both in the USA and Latin America.
The Prósperos platform offers two bank accounts and two cards—one for the account holder in the USA and one for their family in Mexico, with plans to expand to Central and South America soon. In 2023, remittances to Latin America reached nearly $160bn, generating more than $4bn in fees and taking days to process. Prósperos aims to eliminate these inefficiencies, enabling instant fund transfers to family members in Latin America.
With the new funding, Prósperos plans to enhance and expand its platform, offering a faster, more affordable solution for financial transactions. The company is already seeing strong demand and intends to roll out its services in the coming weeks.
The company’s leadership team includes Chief Technology Officer Sangam Singh, Chief Data Scientist Eitan Anzenberg, and Chief Compliance Officer Netsai Massetti, who have all worked together previously and helped take their former FinTech company public in 2019.
“This funding will enable Prósperos to deliver a transformative financial platform that is better, faster, and cheaper than current alternatives. We are already seeing strong demand for our financial platform, which will begin rolling out in the coming weeks. We are excited to serve our customers and help them provide a better life for their families in the USA and Latin America,” said Vinay Pai, CEO.
“Prósperos is deeply personal for me. My father worked on farms and eventually moved to construction. He never had access to the modern banking system and instead paid exorbitant fees for cashing checks and sending money to his family. Prósperos changes all of that,” said Salvador Chavez, COO.
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