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Amazon joins $108m funding round for Brazil's Pismo

Amazon joins $108m funding round for Brazil's Pismo

Brazilian cloud-native core banking and payments platform Pismo has set its sights on international expansion after raising $108 million in a Series B fundraising round led by SoftBank, Amazon and Accel.

B3, Falabella Ventures and PruVen joined the round for Pismo, which was founded in 2016 by four experienced tech entrepreneurs in Brazil.

Pismo's cloud-native core processing platform helps banks, fintechs, and other financial institutions rapidly launch products for cards and payments, digital banking, digital wallets, and marketplaces.

The startup has already won deals with major Latin American players, including Banco Itaú, BTG, Cora, N26 and Falabella. Its platform handles more than four billion API calls monthly and hosts more than 25 million accounts which together transact more than $3 billion a month.

Now, Pismo is looking to go global, setting up offices in Austin, Texas, Bristol in the UK, and in Singapore.

“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,” says Ricardo Josua, CEO, Pismo.

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