The drastic boom of financial technology services in recent years is an abundantly clear reality.
However, there is an additional interesting trend that has accompanied that growth is a surge in financing facilities available to firms that provide the necessary infrastructures to these fintech firms.
São Paulo-headquartered Pismo is one of such firms that offers infrastructure solutions to fintech firms and the startup has now closed a new SoftBank-led Series B funding round in which it raised US$108 million.
The financing effort drew commitments from e-commerce giant Amazon and Silicon Valley-based venture firm Accel along with Falabella Ventures, and PruVen.
The firm also enjoyed the participation of returning investors, including Redpoint ventures and Headline.
This most recent raise brings the total volume of funding raised by Pismo so far to US$118 million.
Founded in 2016, Pismo’s clientele already includes a number of big names such as Banco Itaú, BTG, Cora, N26, and Falabella. Pismo’s platform processes over 4 billion API calls every month and plays host to over 30 million accounts. This in turn leads to over US$3.5 billion in transaction volume a month.
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