A Brazilian FinTech is to launch in Bristol following a £78 million round of funding.
Pismo, a cloud-native core banking and payments platform, has been backed by SoftBank, Amazon and Accel.
The funding, which also includes participation from B3, Falabella Ventures and PruVen, as well as existing investors and Headline and Redpoint eventures, will fuel the company’s global expansion.
Pismo aims to give banks, FinTechs and other financial institutions flexibility and agility. Its all-in-one platform allows customers to rapidly launch products for cards and payments, digital banking, digital wallets and marketplaces.
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.
The platform handles more than four billion API calls monthly, making it one of the biggest financial cloud-based platforms in the world. The Pismo platform hosts more than 25 million accounts which together transact more than $3 billion a month.
The company is to hire more than 200 engineers and 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,” says 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.”