Brazil-headquartered payments processor EBANX has netted a $30m investment from FTV Capital.
Endeavor Catalyst Fund also participated in the investment. FTV is the first institutional investors to back the company.
Founded in 2012, EBANX offers an end-to-end payment solution across the cross-border e-commerce market. The company provides global e-commerce platforms with access to more than 100 Latin American local payment options.
Through the integration of the technology, a business can grow its digital sales across the Latin America region.
Last year, the company helped to process $1.2bn in cross-border transactions and helped over 30 million users from the region access e-commerce merchants. EBANX has seen an average annual growth rate of 80 per cent across the past three years, according to the company.
The company is looking to expand its operations to Ecuador, Uruguay, Paraguay and Bolivia later in the year. The company currently used in Brazil, Mexico, Argentina, Chile, Colombia and Peru. EBANX is also looking to open a new sales and IT office in San Francisco.
EBANX co-founder and CEO Alphonse Voigt said, ?By 2019, there will be more than 150 million online consumers throughout Latin America, and we will be central to helping facilitate this expansion seamlessly.p>
As part of the transaction, FTV Capital principal Robert Anderson will join the company board of directors. FTV Capital partner Chris Winship will also join the board, but as an observer.
Last year, users and employee identification platform ID.me closed a $19m Series B funding round from FTV Capital.
Brazil received most of the equity invested in to Latin American FinTechs, with the country seeing 88 per cent of the funding. Of the funding in Brazil, two thirds went to WealthTech companies.
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