Prósperos has raised $3m in seed funding including investments from FEBE Ventures, BAT VC, Tekton Ventures and Courtyard Ventures.

Founded in 2023 Prósperos aims to deliver an innovative financial platform that allows millions of Latinos to manage their finances while taking care of their family in the US and Latin America.

The Prósperos platform provides two bank accounts and two cards. That is one for the account holder in the US and one for their family in Mexico, and soon Central and South America.

Remittances to LatAm in 2023: $4bn paid by consumers in fees

In 2023, remittances to Latin America totaled nearly $160bn. Prósperos says that its customers avoid costly money-transfer solutions. In addition, their families no longer need to wait in queues to pick up cash.

“Prósperos is building a transformative financial platform that will help millions of consumers in the US and their families in Mexico, Central and South America. We were highly impressed with the vision that the Prósperos founders laid out” said Jai Choi, General Partner at Tekton Ventures.

“Prósperos’ mission statement to help Latinos achieve financial prosperity, a vast underserved market, and an experienced team with an execution track record resonated with us.”  said Aditya Mishra, General Partner at BAT VC.

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“The founders at Prósperos are bringing together a unique set of company building and fintech expertise in support of their mission. We trust that they are ideally positioned to deliver much needed innovative financial services to Latin American families” said Nicolas El Baze, Partner at FEBE Ventures.

“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 US and Latin America” said Vinay Pai, CEO.