EBANX bags $430 million Investment from Advent International

EBANX, a cross-border commerce platform in Latin America, has announced an investment of $400 million from Advent International and an additional commitment of $30 million to its planned IPO in the US.

This builds on the firm receiving $30 million from FTV Capital in 2018 and an undisclosed follow on investment a year later, which saw EBANX achieve unicorn status.

It will use the latest capital to fund further expansion across Latin America.

"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,” says João Del Valle, CEO and Co-founder, EBANX.

“We are excited to have Advent join us on our journey and help us accelerate our growth.”

EBANX says that it has helped the likes of 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.

It processed over $3.5 billion in volume and 150 million transactions in 2020.

“EBANX is one of the most impressive companies I’ve seen in the last 20 years,” comments Mario Malta, Managing Director and Head of Latin America Financial Services at Advent.

“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.”