Visa to Acquire Brazilian Fintech Platform Pismo for $1 Billion in Cash

Payments giant Visa Inc on Wednesday agreed to acquire Brazilian fintech platform Pismo for $1 billion in cash to expand its footprint in Latin America, a vote of renewed confidence in the region amid a funding slowdown.

The Pismo deal is the largest fintech exit in Latin America since Nubank went public in late 2021 and the largest disclosed startup exit so far this year.

For Visa, the world’s largest payments processor, it is its first major takeover since 2021 when it bought European open banking platform Tink for $2.2 billion as well as British cross-border payments provider Currencycloud.

Read the source article at finance.yahoo.com