Cloud-native core banking and payments platform Pismo has chosen Bristol as the location for its European headquarters.
Pismo is the newest addition to the West of England’s established thriving FinTech ecosystem.
The region hosts the UK’s largest digital cluster and highest density of FinTech start-ups and scale-ups outside of London.
Dan Norris, West of England Metro Mayor, said: “This is another vote of confidence in the West of England. Businesses are moving jobs out of London to the region, and now Pismo is going to have their European HQ here.
“We’ve got a thriving digital sector and a growing FinTech cluster – it’s going to bring investment and most importantly well-paid jobs to the region.
“The West of England Combined Authority, which I lead, is investing in people and digital skills to ensure our region is well equipped for the future.”
Vishal Dalal, international CEO, Pismo, said: “We considered many cities across Europe and the UK to be our European HQ.
“In the end, the decision to choose Bristol was an easy one thanks to its rich pool of FinTech talent, excellent transport links and culture.
“Together, this will help us to continue our international expansion and help banks, FinTechs and financial institutions with our best-in-class platform.”
Jonathan Knott, Her Majesty’s Trade Commissioner for Latin America, said: “It is a pleasure for us to support Pismo and many other talented and ambitious companies seeking UK as a strategic location for its international operations.
“The UK is pioneer in Financial Services technological advancement and has a strong consumer appetite for innovative products and services, taking 23.8 per cent of the total paytech industry revenue.
“The presence of a brilliant and emerging cloud banking solution such as Pismo in Bristol only reinforces the UK potential to be home of innovative Latin American solutions.”
Pismo is one of the biggest cloud-based core banking platforms in the world. The company recently announced a $108 million Series B funding round which will bring even greater expansion and further employment opportunities to the region.