Brazilian banking and payment platform Pismo has raised $108m in its Series B funding round to enable cloud-native financial services globally.
The round was jointly led by SoftBank Latin America Fund, Amazon, and Accel.
They were joined by the company’s existing investors Headline and Redpoint eventures along with B3, Falabella Ventures and PruVen.
Pismo will use the funding for its global expansion as well as to accelerate the development of technologies for banking, payments, and financial markets infrastructure.
Pismo North America, Europe, and Asia CEO Vishal Dalal said: “This funding round will turbo-charge our aspirations globally, including the addition of three offices: in Austin, Texas; Bristol, United Kingdom; and in Singapore.”
Additionally, as part of the expansion plan, Pismo is hiring for over 200 roles in the engineering, product, commercial, and management domain.
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Pismo’s cloud-native core processing platform allows banks, fintech, and other financial institutions to launch products for digital banking, cards, payments, digital wallets, and marketplaces.
SoftBank Group International operating partner and head of Brazil Alex Szapiro said: “We believe they have a very talented team uniquely positioned to reinvent the technology behind banking, payments, fintech, and commercial transactions.”
Founded in 2016, Pismo counts Banco Itaú, BTG, Cora, N26 and Falabella among its clients and claims to host over 25 million accounts.
Accel partner Ethan Choi said: “LATAM is in the early innings of its unprecedented fintech revolution and we are thrilled to support Pismo in enabling more innovative services and greater financial inclusion in the region, as well as taking its core banking and payments capabilities far and wide.”