Fintech Unicorn Startup Pismo Has Many Suitors - Mastercard, Visa And More

  • Mastercard Inc MA and Visa Inc V, and other rivals negotiated to acquire cloud-based payment and banking platform provider Pismo.
  • Pismo is working with Goldman Sachs Group, Inc GS on a sale at a valuation of $1 billion, Bloomberg reports.
  • The interested parties include a bank and private equity funds.
  • Also Read: Visa, Mastercard Halt Crypto Initiatives Pending Industry And Regulatory Recovery
  • Pismo's investors include Softbank Group Corp SFTBF SFTBY Latin America Fund, Inc AMZNFalabella Ventures, and Redpoint eventures
  • Itau Unibanco Banco Holding SA ITUB and Banco BTG Pactual are among Pismo's clients. 
  • Reportedly, Visa submitted a second offer to acquire Pismo last week, valuing the company at $1.4 billion.
  • Pismo's platforms let banks and financial technology companies rapidly launch products for cards and payments, digital banking, digital wallets, and marketplaces.
  • Price Action: MA shares closed higher by 0.85% at $354.62 on Monday.

Posted In: FintechM&ANewsPenny StocksTechMediaBriefsData Processing & Outsourced ServicesInformation Technology
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