Home > activity > [ebanx track]Advent Backs FinTech Ebanx In $430 Million Deal | PYMNTS.com

[ebanx track]Advent Backs FinTech Ebanx In $430 Million Deal | PYMNTS.com

Time:2021-09-17 17:51:16

  Brazilian FinTech EBANX has captured a $430 million investment from Advent International. The Curitiba-based Ebanx said in a press release that $30 million would go toward its planned initial public offering (IPO) of stock.

  The release said the cash will be used to fund “continued aggressive expansion across Latin America.” Boston-based Advent, one of the largest private-equity firms, will join FTV Capital as “key minority shareholders.”

  “Our goal has always been to … 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,” said Joao Del Valle, EBANX’s co-founder and CEO.

  EBANX said it has helped companies such as Amazon, Alibaba, Shopee, Spotify and Uber to conduct business with more than 70 million Latin American consumers across 15 countries through its platform. Mario Malta, managing director and head of Latin America financial services at Advent, said EBANX “the clear leader in a rapidly expanding market, serving clients that are among the fastest-growing companies in the world and helping them to sell throughout Latin America.”

  In May, EBANX said it was looking at acquisitions in Latin America amid preparations for an IPO. As part of its expansion efforts, the company said it would create a new platform called EBANX One that would incorporate cross-border payments and local transactions. “We haven’t set a date yet, but we are taking this IPO readiness project very seriously, and EBANX One is at the core of our business value,” said Del Valle.

  EBANX plans to have a presence in 15 countries in Latin America by the end of June. Its largest operations are in Brazil, Mexico and Colombia. “Our goal is to be seen as a gateway to LatAm markets for huge companies,” Del Valle said. At the time, he told Bloomberg that the company would likely look at a new funding round this year.




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