Falabella buys Brazilian payment start-up

What: Falabella continues to bet on the development of the business in Latin America, as the Chilean company declared that it will finance the expansion of Pismo, the Brazilian payment processing startup, "through participation in a round of capital raising."

Why it is important: This new investment is part of the fund that Falabella set to invest in different ventures in 2021. The Chilean company plans to continue deepening and creating alliances with technological start-ups to improve its value proposition.

Pismo is a company that has a presence in Brazil, the United Kingdom and the United States and with the collection of USD 108 million from Falabella the company estimates to expand its operations in the other parts of Latin America.