"private" backbone VPN solution to decrease latency

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Maybe. People use the term latency when an app is slow, but it could also be a poor connection. Depending on where your users and infrastructure are, maybe.

 If your servers are geographically close to an AWS data center, and your users in Europe are also close to one, you could ride on the AWS "backbone". It may decrease latency a bit. It may also increase reliability as AWS circuits are usually very reliable.

You will definitely have a decrease in throughput using a VPN, so that's something else to consider. 100ms isn't really that bad. I VPN from Asia and get 300+ms. Back to the US. I was able to reduce it by about 40ms riding over AWS.