← Embedded Finance Index 2026

Prex

“Can a free prepaid Mastercard account become the primary financial platform for underbanked consumers and SMBs across LatAm?”

Founded2014
HQMontevideo, Uruguay
Latest roundPE Growth
IndustryFintech / Neobank
The story

Founded in 2014 in Uruguay, Prex started as a free prepaid Mastercard digital account for underbanked LatAm consumers, regulated by the Banco Central del Uruguay via its operating entity Econstar S.A. Over time, Prex layered in lending (Prextamo via FLODER S.A.), FX (FORTIGOLD SA), crypto investing (Lirium AG), and international payment integrations (PayPal, Payoneer), transforming from a basic prepaid card into a full-featured neobank. It subsequently expanded into a B2B segment (Prex Empresas) serving freelancers, SMEs, and large companies with corporate cards, payroll, and supplier payment capabilities, positioning itself as the financial OS for underserved LatAm individuals and businesses.

Last 12 months
—
Product timeline
2014
Prex founded in Uruguay as a prepaid Mastercard digital account targeting the underbanked LatAm population.· banking
Regulated entities
2
regulatory licences held by Prex
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
6 layers disclosed in Prex’s embedded-finance stack
Banking / BaaS
Econstar S.A. (in-house)
Card network
in the full report
Lending
in the full report
FX & payouts
in the full report
Crypto
in the full report
Investing
in the full report
Accounting gap: significant
8 more providers across 5 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.