Mastercard Inc. and Visa Inc. are among the firms negotiating to acquire Pismo, which provides cloud-based payment and banking platforms, according to Bloomberg. Pismo’s platforms allow banks and financial technology companies to rapidly launch products for cards and payments, digital banking, digital wallets and marketplaces.
The Sao Paulo-based company, which is working with Goldman Sachs Group Inc. on a sale, is being valued in the talks at around $1 billion.
An agreement hasn’t been reached and the talks could still end without one, they added.
Last week, Valor Economico’s website Pipeline, reported Visa had submitted a second offer to acquire Pismo, valuing the company at $1.4 billion.
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In 2021 Pismo raised $108 million in a Series B fundraising round led by SoftBank, Amazon and Accel. At the time, the company handled more than 4 billion API calls per month, making it one of the largest cloud-based financial platforms in the world, and hosted more than 25 million accounts that collectively trade more than $3 billion per month.
Founded in 2016 by four experienced tech entrepreneurs in Brazil, Pismo has already attracted some of the biggest banks, fintechs, and retailers in Latin America as customers, including Banco Itaú, BTG, Cora, N26 and Falabella.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
