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

Texas News Today

FILE PHOTO: The SoftBank Corp logo is taken at a press conference in Tokyo on February 4, 2021. Reuters / Kim Kyung-hoon

October 19, 2021

SAO PAULO (Reuters) – Brazilian banking and payments technology platform Pismo announced on Tuesday that it has raised $108 million in an investment round led by Japan’s SoftBank Group Corp, Amazon.com Inc and global venture capital firm Accel. did.

According to Pismo, founded in 2016, the second round of funding is aimed at accelerating the company’s global expansion and accelerating the development of banking technology.

According to Pismo, events and headlines from Brazilian stock exchange operators B3, Farabella Ventures, Pulben and existing investor Red Point also participated in the round without disclosing their valuations.

“Pismo is now ready for a new phase of growth. With this round of funding, we will further strengthen the momentum and scale we already have in Latin America and accelerate our international expansion.” Ricardo, CEO and Co-Founder of Pismo Josua said in a statement. Pismo said its cloud-native platform for financial institutions hosts more than 25 million accounts and generates more than $3 billion in trades a month, including Banco do Brasil Itau Unibanco Holding Companies like SA and Banco BTG Pactual SA are clients. I added that this is one.

Following the funding round, the company plans to open offices in Austin, Texas, Bristol, England and Singapore.

“(Pismo) is in a unique position to reinvent the technology behind banks, payments, fintech and commerce. The founders have big ambitions to make Pismo a truly global company.” The Brazilian head of SoftBank and Operating Partner Alex Sapiro said.

(Reporting by Gabriel Araujo; Editing by Sandra Maler)

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

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

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