Pismo, the cloud-native core banking and payments platform, has announced the signing of a $108 million Series B fundraising round, led by SoftBank Latin America Fund, Amazon and Accel with participation from B3, Falabella Ventures and PruVen and existing investors and Headline and Redpoint eventures.
The funding will fuel the company’s global expansion and accelerate the development of technologies for banking, payments, and financial markets infrastructure.
“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,” said Ricardo Josua, co-founder and CEO at Pismo. “We have enabled our clients to launch and manage some of the most innovative products in the market, and we are just getting started. We are hiring over 200 engineers and world-class product, commercial, and management talent to lead banking and payment disruption all around the world.”
“Ever since we embarked on our global expansion program in Europe, Asia, and North America earlier this year, we have seen significant interest in the platform and client momentum which is already being translated into commercial momentum,” said Vishal Dalal, CEO (North America, Europe, and Asia) at Pismo. “This funding round will turbo-charge our aspirations globally, including the addition of three offices: in Austin, Texas; Bristol, United Kingdom; and in Singapore. We’re thrilled about building our footprint and customer base in these new regions.”
“We are very excited to invest in Pismo. We believe they have a very talented team uniquely positioned to reinvent the technology behind banking, payments, fintech, and commercial transactions. The founders are outstanding and have great ambitions to make Pismo a truly global company,” added Alex Szapiro, Head of Brazil and Operating Partner at SoftBank Group International.
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