SoftBank, Amazon and Accel invest $ 108 million in Pismo banking platform

SAO PAULO, Oct. 19 (Reuters) – Brazilian banking and payment technology platform Pismo raised $ 108 million in an investment round led by Japan’s SoftBank Group Corp, Amazon.com Inc and the company global venture capitalist Accel, she said Tuesday.

According to Pismo, which was founded in 2016, its second round of funding aims to fuel the company’s global expansion and accelerate the development of banking technologies.

Brazilian stock operator B3, Falabella Ventures, PruVen and existing investors Redpoint events and Headline have also joined the cycle, Pismo said, without disclosing his valuation.

“Pismo is now ready for a new phase of growth. Thanks to this funding round, we will continue on the momentum and scale that we already have in Latin America, and accelerate our international expansion ”, Ricardo, Managing Director and co-founder of Pismo. Josua said in a statement.

Pismo said its native cloud platform for financial institutions hosts more than 25 million accounts and processes more than $ 3 billion per month, adding that companies like Brazilian banks Itau Unibanco Holding SA and Banco BTG Pactual SA are doing part of its customers.

The company plans to open offices in Austin, Texas, Bristol, England and Singapore after the roundtable.

“(Pismo is) uniquely positioned to reinvent the technology behind banking, payments, fintech and business transactions. The founders have great ambitions to make Pismo a truly global company,” said Alex Szapiro, director of SoftBank in Brazil and operational partner. (Reporting by Gabriel Araujo; Editing by Sandra Maler)


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Michael C. Sumner

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