Mastercard and Visa are reportedly amongst a group of companies in talks to buy Brazilian FinTech Pismo.
Sources familiar with the matter told Bloomberg that the Sao-Paulo-based FinTech, which provides cloud-based payment and banking platforms, is being valued in the talks at $1 billion.
Using Pismo’s platforms, banks and other financial companies have the ability to quickly launch new products for services such as digital banking and digital wallets.
The FinTech is said to be working with Goldman Sachs on a potential sale, with the sources stating that a private equity firm is another of the interested parties.
The sources added that an agreement has not yet been reached and that talks could still end without one.
Pismo counts Amazon, Itau Unibanco, and Falabella Ventures among its investors.
Citing people familiar with the matter, Brazil’s financial newspaper Valor Econômico recently reported that Visa had submitted a second offer for Pismo and valued the company at $1.4 billion.
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