Pismo, a US-based startup offering a cloud-based banking and payments platform, has secured US$ 108 million in a Series B funding round co-led by SoftBank Latin America Fund, Amazon and Accel on 19 October 2021.
Investors: The latest investment round featured SoftBank Latin America Fund, Amazon and Accel as the lead investors with participation from Redpoint eventures, B3, Falabella Ventures, Headline and PruVen Capital.
Purpose of the funding: The startup seeks to deploy the proceeds from the investment round towards expanding globally and increasing the pace of development of essential market tech for payments, financial markets and banking infrastructure.
Brought to existence in 2016 by Daniela Binatti, Ricardo Josua, Marcelo Parise and Juliana Motta, Pismo has built a cloud-based core processing interface that offers fintech, banks and other financial institutions agility and flexibility. Pismo’s platform enables its customers to promptly launch products for payments and cards, digital wallets, digital banking and marketplaces. Moreover, it aids financial institutions to control their vital data and use it smartly. It is one of the biggest cloud-enabled platforms worldwide as it deals with over 4 billion API calls every month. Pismo has over 25 million accounts registered on its platform, which carry out transactions of over US$ 3 billion monthly.
What the Founder has to say: “With high-tech technology employed at scale and a broad range of products available in the market, we await the beginning of a new growth phase. The infusion of new capital will assist in gaining further momentum and scale in LATAM and accelerate the process of global expansion. We have allowed our users to deal with and introduce several unique offerings in the market, and we are in our early days. We are recruiting fresh talent to lead payment and banking disruption worldwide.”- Ricardo Josua, Co-Founder and CEO at Pismo.
What the Investor has to say: “We have strong faith in Pismo and its fundamental fintech interface for LATAM, and now with the inflow of more funds, the other parts of the world. LATAM is in the early days of its groundbreaking fintech transformations. It is exhilarating to assist Pismo in allowing greater financial inclusion and more exceptional offerings in the region, and in addition, upgrading its main banking and payments potential.”- Ethan Choi, Partner at Accel.
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