Mexican payment network Prosa is exploring a sale of the company that could be valued at more than $ 1 billion, sources familiar with the matter said Wednesday.
The company, owned by a consortium of banks that includes Grupo Financiero Banorte and the Mexican subsidiaries of HSBC and Banco Santander, owns the infrastructure that allows more than half of electronic payments in the country.
It is also one of the largest payment processors in Latin America, having added around 4.7 billion transactions in 2020.
A process to sell the firm managed by an investment bank has been underway in recent weeks, and Prosa has attracted the interest of a number of large payments and fintech companies, the sources said, warning that there had been no guarantee that an agreement will be reached.
Those close to the matter spoke on condition of anonymity as they were confidential matters. Prose did not respond to requests for comment.
Companies that process digital payments in Latin America have attracted great interest from public and private investors, as well as those seeking access to a rapidly expanding market, due to a young, tech-savvy population and many countries traditionally they have lacked banking infrastructure.
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On Wednesday, Montevideo, Uruguay-based dLocal will price an initial public offering (IPO) on Nasdaq that will value the company that processes payments in 29 countries, mostly emerging markets, up to $ 5 billion.
The listing is endorsed by the US asset management firm Fidelity Management and Research.
