Internet and telecommunications group SoftBank’s Latin America Fund led a $108m series B round for Pismo, a Brazil-based provider of banking and payment processing software, yesterday.
E-commerce and cloud computing group Amazon and financial market technology provider B3 filled out the round alongside Accel, Falabella Ventures, PruVen Capital, Headline and Redpoint E.ventures, bringing the company’s total funding to a reported $118m.
Founded in 2016, Pismo operates an integrated cloud-based processing platform for banking, payment and financial market transactions and allows companies to rapidly launch new products.
The company claims its platform hosts 25 million accounts which are collectively responsible for over $3bn in transactions each month. The funding will be used to support its global expansion and develop its product line.
Redpoint E.ventures had previously supplied an undisclosed amount of series A funding for Pismo in 2017.
Pismo’s co-founder and chief executive, Ricardo Josua, said: “With the widest product coverage in the market and cutting-edge technology adopted at scale, Pismo is now ready for a new phase of growth. On the back of this funding round, we will build further on the momentum and scale we already have in LatAm and accelerate international expansion.
“We have enabled our clients to launch and manage some of the most innovative products in the market and we are just getting started. We are hiring over 200 engineers and world-class product, commercial and management talent to lead banking and payment disruption all around the world.”
