Pismo becomes the first Unicorn of the Falabella fund after Visa’s acquisition

In June, Visa announced the acquisition of the Brazilian payment platform Pismo for US$1 billion in a move to expand its presence in Latin America. With this operation, the Brazilian startup becomes the first success story of the Falabella Ecosystem, turning into a unicorn. Pismo, founded in 2016, is a payment processor and central banking platform operating in Latin America, Asia Pacific, and Europe. In 2019, Falabella started collaborating with Pismo to develop the digital wallet Fpay in Chilean market.

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Total funding into SEA tech startups falls 71% year on year to US$2.3B in first half

July 20, 2023

Total funding into Southeast Asia (SEA) tech startups fell 71% to US$2.3 billion in the first half of 2023, from US$8 billion a year ago, said Tracxn Technologies Ltd in its SEA Tech Semi-Annual Funding report. The total funding in the first half is 45% lower than US$4.3 billion raised in the second half of 2022. The decline was largely driven by a plunge in late-stage investments in the first half, which fell 54% and 72% when compared with the second half of 2022 and first half of 2022 respectively.

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LATAM startups raise only US$406M in the first quarter of 2023

July 20, 2023

This is one of the lowest capital raising periods for Latin American startups in the last five years, according to a study by Endeavor. Latin American companies only raised US$406 million in the first quarter of 2023, according to the Venture Capital and Growth Equity Ecosystem 2023 study. The study also revealed that the number of investments is 40% above the first quarter of 2021.

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