There is no question that fintech has exploded in recent years. But along with that, we have also seen a related surge in funding into companies that provide the infrastructure that financial institutions — incumbents and fintechs alike — need in order to operate faster and more competitively.
São Paulo-based Pismo is one of those infrastructure providers. And today, the startup announced it has raised $108 million in a Series B funding round co-led by SoftBank, e-commerce giant Amazon and Silicon Valley-based venture firm Accel. Falabella Ventures, PruVen and existing backers Redpoint eventures and Headline also participated in the financing, which brings Pismo’s total funding raised to $118 million.
The fact that Amazon has invested in a LatAm infrastructure provider for the financial services industry is notable. It appears that the company is investing time and energy in Latin America, and with that, is thinking about the payment methods and the infrastructure that consumers of Amazon services will have.