SoftBank, Amazon, Accel invest $108m in Brazilian banking platform Pismo

Brazilian banking and payments tech platform Pismo raised $108 million in an investment round led by Japan’s SoftBank Group Corp, Amazon.com Inc and global venture capital firm Accel, it announced on Tuesday.

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.

Reuters

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.