Advent invests $430 million in Brazil payments firm Ebanx before IPO

Funding Rounds

▤ Summary

SAO PAULO (Reuters) - Funds managed by Advent International are investing $430 million in the Brazilian payments company Ebanx, financing its growth in Latin America ahead of an initial public offering planned for the coming months, Ebanx Chief Executive said on Tuesday. CEO and co-founder Joao Del Valle said the company plans to use the proceeds from acquisitions to further expand operations in countries such as Mexico, Colombia and Argentina. This year Ebanx is likely to process more than $7 billion in total payments, doubling from 2020, Del Valle added. The deal is the latest example of how busy dealmaking activity is for Brazilian financial startups, which are luring investors beyond traditional venture capital funds. Last week, Nubank announced a $750 million funding round led by Warren Buffett’s Berkshire Hathaway.

$ Funding

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Amount $430.0M Total raised
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Date June 15, 2021 Announcement date
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Investors Reuters Venture Capital Lead investors
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Company http://www.ebanx.com Funded company

▥ Classifications

industries
Fintech & Banking
applications
Accounting and Taxes

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Labels
Legal Tech Tax Software Compliance Software

▦ Linked Companies

EBANX
$50M to $100M