Prospering amid economic weakness: Visa acquires Brazil's Pismo in one of the largest FinTech M&A deals in LatAm 🤝💰; Bitpanda does a crypto spin out 🐼
FinTech is Eating the World, 29 June
Hey Everyone,
TGIF! Today’s issue is a very special one as we’re going to look at Visa buying Brazil's Pismo in one of the largest FinTech M&A deals in LatAm (& how Visa is prospering amid economic weakness + why it’s a solid long-term investment), and Bitpanda that does a crypto spin out (how it’s following the money & why it makes sense). Let’s jump straight into the fascinating stuff 🌶
Prospering amid economic weakness: Visa acquires Brazil's Pismo in one of the largest FinTech M&A deals in LatAm 🤝💰
It’s official💰 The rumors are finally official - card network giant Visa V 0.00%↑ has splashed out $1 billion to acquire Brazil-based core banking platform Pismo.
The transaction is subject to regulatory approvals and is expected to close by the end of this year, with Pismo retaining its current management team.
The USP 🥊 Founded in 2016 and based in São Paulo, Pismo offers a cloud-native platform for payment and banking services, including digital banking, core banking, cloud computing, card-issuing, and digital wallets. Pismo has operations across Latin America as well as Asia and Europe with a customer base mostly in Asia Pacific.
In October 2021, the firm raised $108 million in a Series B funding round from Amazon, SoftBank, and Accel in a bid to expand its operations across Asia.
São Paulo–based Pismo counts Citi, Itaú (one of Brazil’s largest banks), Revolut, N26, Nubank, and Cora as its customers and processes almost 50 billion API calls and $40 billion in transaction volumes annually, & powers almost 80 million accounts and over 40 million issued cards.
This M&A is a massive win for Visa that further strengthens its long-term growth potential and market dominance. Let’s take a closer look at this, see how it perfectly fits into the credit card giant’s long-term strategy, and uncover why Visa is a strong long-term investment (based on DCF analysis, P/E ratios, and macro factors)👇🏼
+ you will also unlock 4 Essential M&A Templates to Master the Art of Dealmaking.