Former PayPal Executive Dan Schulman Joins Valor Capital as Partner
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Dan Schulman, the former American Express and PayPal boss has joined Valor Capital Group, the cross-border enterprise fund that connects the Latin American and the US technology markets.
Scott Sobel, the Valor founding Partner, stressed that Dan needs no introduction for individuals who have worked in the tech business over the past thirty years. Sobel highlighted Dan’s role in bringing innovation to PayPal over his nine-year tenure. PayPal has seen a series of achievements under Dan’s tenure, including quintupling payment value rising from $250 billion to approximately $1.3 trillion.
Schulman’s Appointment Seeks To Accelerate Fintech Expansion In Latin America
Sobel noted that the appointment of Schulman reflects the ‘FinTech center of gravity’ move towards expanding its presence in regions like Brazil and Mexico. He added that the Latin American province boosts 8% of the world’s gross domestic product and 8% of the world’s population, leading to a vast number of internet and smartphone users in the US.
Sobel expressed confidence in partnering with Dan, as it provides a prime opportunity to enhance their capabilities and partnership to help investors and founders seize this opportunity.
Dan’s impressive track record of fostering innovation in startups to Fortune 100 firms, and his focus on investing in the financial well-being of employees has defined new forms of capitalism.
Valor has collaborated with Dan during his tenure at PayPal and American Express, particularly on projects in the region. Dan’s confidence in the region led him to enhance his $750 million investment in MercadoLibre and PayPal’s partnership.
Prometeo Aims To Revolutionize Latin America’s Financial Services Industry
Karen Webster, Chief Executive Officer at PYMNTS, recently spoke about efforts to revolutionize Latin America’s financial services business with the Co-founder of Uruguayan FinTech Prometeo, Ximena Aleman.
Aleman highlighted the importance of offering a single application programming interface, a single point of data access and pushing use cases in front of others.
By doing so, Prometeo aims to unify far-flung markets and acts as a tech enabler for financial firms. Aleman emphasized the team’s focus on providing a versatile comprehensive infrastructure for their users to use in various regions at the same time.
In 2018, after managing two startups and introducing Prometeo, the Aleman team quickly recognized the necessity for this infrastructure in their pursuit of better financial services in Latin America. The team aimed for originality rather than replicating existing models like Plaid.
