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According to Pismo, which was founded in 2016, its second
funding round is aimed at fueling the company's global expansion
and accelerating the development of banking technologies.
Brazilian stock exchange operator B3, Falabella Ventures, PruVen
and existing investors Redpoint eventures and Headline also
joined the round, Pismo said, without disclosing its valuation.
"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 Latin America, and accelerate
international expansion," Pismo Chief Executive and co-founder
Ricardo Josua said in a statement. Pismo said its cloud-native
platform for financial institutions hosts more than 25 million
accounts and transacts more than $3 billion a month, adding that
firms like Brazilian banks Itau Unibanco Holding SA and Banco
BTG Pactual SA are among its customers.
The company expects to launch offices in Austin, Texas, Bristol,
England, and Singapore following the funding round.
"(Pismo is) uniquely positioned to reinvent the technology
behind banking, payments, fintech, and commercial transactions.
The founders have great ambitions to make Pismo a truly global
company," SoftBank's head of Brazil and operating partner Alex
Szapiro said.
(Reporting by Gabriel Araujo; Editing by Sandra Maler)
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