Brazilian Cross-Border Commerce Platform EBANX Bags US$430 Million Ahead of IPO
by Fintechnews Switzerland June 16, 2021EBANX, a Brazilian cross-border commerce platform, announced an investment of US$400 million from Advent International and an additional commitment of US$30 million to the company’s planned IPO in the U.S.
Advent has made investments in Vantiv, Worldpay, Nets, Nexi, Planet, Xplor Technologies, Prisma, Concardis, Monext, and Stone. The firm joins FTV Capital as a minority investor in EBANX.
For the first time, all four of Advent’s funds, including Latin American Private Equity Fund (LAPEF), Global Private Equity (GPE), Advent Tech and Sunley House Capital, are participating in the same investment.
The investment will be used to continue funding EBANX’s aggressive expansion across Latin America.
EBANX said that it will also continue to recruit talent aggressively. The company recently hired Alexandre Dinkelmann as Chief Financial Officer, who brings his public company experience as CFO of TOTVS, a software company in Brazil.
EBANX has helped companies such as Amazon, Alibaba, Shopee, Spotify and Uber reach and conduct commerce with over 70 million Latin American consumers across 15 countries, through its proprietary platform and solutions.
The company has reportedly processed over US$3.5 billion in volume and 150 million transactions in 2020.
João Del Valle
“Our goal has always been to develop the highest-performing digital payments solutions, recruit the best technology talent and business minds, and deliver a superior value proposition that makes it easier and more cost effective for global companies to access and grow their businesses across Latin America.
We are excited to have Advent join us on our journey and help us accelerate our growth”,
said João Del Valle, CEO and Co-Founder of EBANX.
Featured image: EBANX
