EBANX becomes Latin America’s next unicorn

EBANX, a payments processing platform, has become the Latin America’s latest unicorn thanks to a new investment round.

The amount of capital deployed in the round was not disclosed. It came as a follow-on investment from US-based growth equity firm FTV Capital.

Moving forward, the company will continue to expand its operations across Latin America and is looking to hire more staff for its sales, marketing, and IT teams to support growth.

The company is also looking to expand its EBANX Pay solution, a service for local payment processing. It originally launched in Brazil earlier this year and is expected to be released into Colombia next year.

Headquartered in Brazil, EBANX is a offers payment processing services across Latin America, offerings 100 local payment options and connecting 1,000 merchants to over 50 million consumers.

EBANX and co-founder CEO Alphonse Voigt said, “Becoming a unicorn reflects the unique solutions we have created to meet the demands of some of the world’s most recognized brands since we founded EBANX in 2012. From the start, our focus has been on connecting people in Latin America to global companies providing access and a seamless ability to transact.

“This investment from our partner FTV Capital highlights the continued success we have had in delivering best-in-class platform to our customers, and shines the light on Latin America as a massively attractive region for commerce.”

Last year, the FinTech closed a $30m investment from FTV Capital, which was raised to support its move into the Ecuador, Uruguay, Paraguay and Bolivia markets. Since the investment, the FinTech has grown by 80% in all verticals, the company claims.

EBANX has formed a number of partnerships in the past year. In September, the FinTech became a payment partner for the new Uber Pay ecosystem to process cash vouchers and bank transfer payments for Uber in Latin American countries.

Other recent agreements have been with Shopify, Coursera, Spotify, and Visa.

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