P
Prex
A digital banking platform that offers a full suite of financial products and services to the underbanked in LATAM countries
About Prex
Prex operates as a digital financial services platform with a clear mission: to democratize access to financial products for the large unbanked and underbanked population across Latin America. The company was founded in Uruguay in 2015 by Alfredo Bruce and his partners, establishing the first regulated Electronic Money Issuer Institution (IEDE) in the country. Driven by the insight that over half of LATAM's population lacks access to quality financial services, Prex embarked on a regional expansion.
The firm's strategic growth began with its entry into Argentina in 2019, followed by Peru in 2021, and most recently, Chile in 2024. A significant milestone occurred in 2021 when the Brazilian bank Itaú Unibanco acquired a 30% stake in the company for an undisclosed amount, strengthening its position in the market. Prex now serves over three million users regionally. The business model is B2C, centered around a free digital account linked to an international Mastercard prepaid card, all managed through a mobile app. Revenue is generated through various services, including currency exchange, personal loans, and fees from international transactions facilitated by partnerships with PayPal and Payoneer.
The core product is a comprehensive financial application that provides users with a bimonetary account (local currency and USD), a virtual and physical Mastercard, and a suite of services. These services include local and international payments, fund transfers, bill payments, personal loan requests, currency exchange, and access to investments. A key feature is enabling cross-border functionality, such as allowing users in one country to hold a balance in another's currency, exemplified by the Argentine peso card for users in Chile and Uruguay. By focusing on a seamless user experience and eliminating traditional banking fees like maintenance or renewal costs, Prex targets a demographic that has been historically excluded from the financial system, helping them build credit histories and manage their finances effectively.
Source: Dealroom company dataAt a glance
- Status
- Operational
- Founded
- 2014
- Headquarters
- Buenos Aires, Argentina
- Employees
- 708
- Open positions
- None listed
- Dealroom signal
- 85.6/100
- Industry
- Fintech
- Sub-industry
- Payments, Banking
- Sector
- Fintech, Challenger Bank, financial inclusion
- Technology
- Mobile app
- Business model
- SaaS
- Client focus
- b2c
Knowledge graph
More headlines
Funding history
Company financing events and reported valuations.
| Deal type | Date | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| LATE VC✓Equity / VC | Dec 2022 | $0 | — | Itau | ↗ |
Growth signals
Latest recorded traffic for Prex is 200K monthly website visits, down 13% over the last three months. Prex's team grew 395.1% over the past year.
Similar companies
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Investments and acquisitions
Recent portfolio relationships for companies that also act as investors or acquirers.
Investors
From Dealroom's funding and investor records, grouped by the round each investor first entered.
Series B and later1 investor entered at this stage
Itau
Source: Dealroom Talent Intelligence.
Global footprint
team presence
Market sentiment
An AI-synthesised read of the highest-engagement posts about Prex on X, ranked by likes and reposts, corporate channels excluded.
Reading the room on X — pulling top posts and synthesizing themes…
Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour
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