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Mastercard and Visa are among the suitors in talks to buy Brazilian cloud-native core banking and payments platform Pismo for around $1 billion, according to Bloomberg.
Sao Paulo-based Pismo has called in Goldman Sachs to work on a possible sale, with the US card giants, an unnamed bank and private equity funds all showing interest in a deal, says Bloomberg citing sources.
No agreement has been reached with any party and talks could yet fall through.
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.
In 2021 it raised $108 million in a Series B fundraising round led by SoftBank, Amazon and Accel.
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