EBANX secures US$430 mn investment from Advent International

By Pavithra R

EBANX, a technological payment solution provider connecting Latin American consumers to global companies, has announced securing an investment of US$400 mn from Advent International and an additional commitment of US$30 mn to the company’s planned IPO in the U.S.

Advent is one of the largest private equity firms and a successful investor in the Payments industry, having 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.

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, demonstrating the firm’s strong global support of EBANX.

“EBANX is one of the most impressive companies I’ve seen in the last 20 years. The company is 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 with simplicity, confidence and higher-levels of transaction approval,” said Mario Malta, Managing Director and Head of Latin America Financial Services at Advent.

EBANX is planning to use the funding to continue its aggressive expansion across Latin America and reinforce its leadership in Latin America as it prepares for a U.S. IPO. The firm will also continue to recruit talent. The Company recently hired Alexandre Dinkelmann as CFO, who brings his public company experience as CFO of TOTVS, the largest software company in Brazil. EBANX has grown at an exponential rate in recent years, and processed over US$3.5 bn in volume and 150 mn transactions in 2020.

“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.

Founded in 2012, EBANX is a leading cross-border commerce platform in Latin America connecting global merchants with local consumers. It has operations in Brazil, Mexico, Argentina, Colombia, Chile, Peru, Ecuador, Bolivia, and Uruguay. The firm has helped companies such as Amazon, Alibaba, Shopee, Spotify and Uber reach and conduct commerce with over 70 mn Latin American consumers across 15 countries, through its proprietary platform and solutions.