Mastercard, Visa among firms in talks to buy fintech Pismo
MASTERCARD and Visa are among the firms negotiating to acquire Pismo, which provides cloud-based payment and banking platforms, said people familiar with the matter.
The Sao Paulo-based company, which is working with Goldman Sachs on a sale, is being valued in the talks at around US$1 billion, the people said, asking not to be identified because the negotiations are private. Those interested include a bank and private equity funds, the people said.
An agreement has not been reached and the talks could still end without one, they added.
Representatives for Pismo, Mastercard, Visa and Goldman Sachs declined to comment.
Pismo’s investors include SoftBank Latin America Fund, Amazon.com, Falabella Ventures and Redpoint eventures. Itau Unibanco Holding and Banco BTG Pactual are among its clients.
Last week, Valor Economico’s website Pipeline reported that Visa had submitted a second offer to acquire Pismo, valuing the company at US$1.4 billion, citing people with knowledge of the matter.
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Pismo’s platforms allow banks and financial technology companies to rapidly launch products for cards and payments, digital banking, digital wallets and marketplaces. BLOOMBERG
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